0042 GMT - Lithium isn't out of the woods yet, says UBS analyst Levi Spry, after a plunge in prices for the battery metal. "We had hoped Tianqi's decision to take the extra 200,000 [metric tons] was a sign things might be improving, but with spot trading at US$870/ton, more needs to play out before the market rebalances," Spry says in a note. UBS has a FY 2025 lithium-price forecast of US$1,000/ton, just below consensus of US$1,015/ton, he says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
August 05, 2024 20:42 ET (00:42 GMT)
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