Citi Expects Lithium To Surge 20-25% In The Next 2-3 Months On supply curtailment

CITI:

• EXPECTS LITHIUM TO BOUNCE 20-25% OVER THE NEXT 2-3 MONTHS ON SUPPLY CURTAILMENT LED PHYSICAL REBALANCING AND SHORT COVERING

• SAYS LIKELY TO SEE INVESTORS COVER THEIR SHORT POSITIONS AND PRICES RALLY TO $13-14K/T ON COMEX, UP FROM AROUND $11K/T AT PRESENT (+20-25%)

• SAYS "OUR NEW 6-12MTH PT PRICE FORECAST IS $13K/T/$13.2K/T FOR CARBONATE AND HYDROXIDE AND $950/T FOR SC6"

• EXPECTS SUBDUED EX-CHINA EV SALES OVER THE NEXT 6-12 MONTHS REMAINS A MAJOR HEADWIND FOR LITHIUM CONSUMPTION