Demand for lithium from China’s automotive industry has fallen by less than half in recent months, according to Goldman Sachs Group Inc (GS).
That implies a dramatic shift that will cause prices for the battery metal to fall, the bank says.
Goldman has been one of the most pessimistic voices in the later stages of the huge lithium rally in 2022.
Its projections of rising supply generated criticism from some of the industry’s experts.
However, now that prices have fallen more than 30% from their peak last year, the bank reiterated that the downturn has quite a bit . . .