Citi expects lithium prices to continue to weaken in the short term due to supply chain inventory removal. Citi said that since the beginning of September, lithium prices have dropped as much as 40%. The key question facing the market is whether this round of price adjustments has come to an end. Citi said, “The results of the team's recent channel research are not optimistic.” The bank said consumers may delay purchases and maintain lower inventory levels, which means lithium prices face greater downside risks until supply is cut or downstream inventory is exhausted. Citi lowered the price target for lithium carbonate from 20,000 US dollars per ton to 12,000 US dollars for the next 0 to 3 months; the price target for lithium hydroxide was also lowered from 17,000 US dollars to 12,000 US dollars per ton; and the price target for spodumene concentrate was lowered from 2,000 US dollars per ton to 1,200 US dollars per ton.

Citi expects lithium prices to continue to weaken in the short term due to supply chain inventory removal. Citi said that since the beginning of September, lithium prices have dropped as much as 40%. The key question facing the market is whether this round of price adjustments has come to an end. Citi said, “The results of the team's recent channel research are not optimistic.” The bank said consumers may delay purchases and maintain lower inventory levels, which means lithium prices face greater downside risks until supply is cut or downstream inventory is exhausted. Citi lowered the price target for lithium carbonate from 20,000 US dollars per ton to 12,000 US dollars for the next 0 to 3 months; the price target for lithium hydroxide was also lowered from 17,000 US dollars to 12,000 US dollars per ton; and the price target for spodumene concentrate was lowered from 2,000 US dollars per ton to 1,200 US dollars per ton.