LAC - Lithium shares sink as Goldman says battery metal bull market has peaked

Lithium stocks show weakness in Wednesday's trading after Goldman Sachs predicted that prices of the commodity will decline sharply over the next two years: (NYSE:LTHM) -14.3%, (NASDAQ:PLL) -14.2%, (ALB) -10.2%, (LAC) -8.8%, (SQM) -5.6%; ETF: (NYSEARCA:LIT) Battery metal prices have been rising consistently in recent years, and prices have been supported by the battery sector's strong demand prospects and clear ESG benefits, but Goldman strategists say the bull market has peaked. Goldman forecasts a sharp correction in prices, with lithium falling from $53,982/metric ton in 2022 to $16,372/ton in 2023, cobalt from $78.5K/ton in 2022 to $59.5K/ton in 2023, and nickel from $31K/ton in 2022 to $30,250/ton in 2023. Through 2025, the bank expects a 33% Y/Y increase in lithium supply, a 14% rise in cobalt and 8% in nickel, compared with annual demand growth rates of 27%, 11% and 7%, respectively. Goldman believes demand will remain strong from the

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Lithium shares sink as Goldman says battery metal bull market has peaked