Citi sees lithium prices staying weak as buyers hold off
Citi expects weak lithium prices near term after a drop of up to 40% since September, and cut its 0-3 month price targets, Market Talk reports.
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what happened
Market Talk reports that Citi expects lithium prices to stay soft in the coming weeks. Prices have dropped by as much as 40% since early September, and the bank is asking whether the decline has already played out.
Citi's China Battery Materials team says its recent checks of market channels "have not been encouraging." The bank expects buyers to delay purchases and keep inventories lean, so it sees downside risk until supply is cut or stocks further down the chain are used up.
why it matters
Citi lowered its 0-3 month targets to $12,000 per metric ton for lithium carbonate from $20,000, to $12,000 per ton for lithium hydroxide from $17,000, and to $1,200 per ton for spodumene concentrate from $2,000. Such revisions signal a shift in sentiment rather than a confirmed trend. For lithium producers, lower price expectations weigh on revenue forecasts.
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sources
- Lithium Price Outlook Sours as Consumers Put off Purchases — Market Talk, 2 November 2026 at 01:34 UTC
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