Citigroup cuts lithium forecasts amid declining battery demand

Citigroup lowered its short-term and long-term price targets for lithium, citing slowing battery demand growth and macroeconomic headwinds.

The bank reduced its three-month price targets for lithium carbonate and hydroxide to $12,000 per ton from previous estimates of $20,000 and $17,000.

Trade uncertainties and plans by Beijing to phase out certain tax benefits have contributed to a downturn in the lithium market.