SHANGHAI, Feb 27 (SMM) – The price of lithium carbonate is set to drop to $7,700/mt by 2021 from a peak of over $14,000/mt this year due to excess supply, according to Morgan Stanley on Monday February 26.
The investment bank also downgraded the stock rating for Sociedad Química y Minera de Chile (SQM), which saw its shares drop over 10% at one point on Monday, marking the biggest intraday slump since June 2015.
In China, SMM expects lithium carbonate prices to average 140,000 yuan/mt ex-works this year due to increasing inventories.
For editorial queries, please contact Daisy Tseng at email@example.com
For more information on how to access our research reports, please email firstname.lastname@example.org