Lithium stocks, after suffering a few months of uncertainty about the potential for over-supply of the battery metal, got a double boost this week when two of the world’s leading investment banks, Goldman Sachs and Credit Suisse, said it was time to buy, not sell.
The first cobalt and nickel results from Hylea Metals’ maiden drilling program in NSW are as good or better than those from similar leading projects in the region and confirm its significant growth potential, a new research report says (reports Stockhead).
A new study has forecast soaring demand for lithium from companies that produce batteries to power electric cars, laptops and other high-tech devices, predicting that it will increase 650% by 2027 with overall lithium demand forecast to rise more than threefold (reports Cecilia Jamasmie on Mining.com).
Global investment bank UBS has painted an optimistic outlook for lithium demand in the North Asian region, saying demand is accelerating faster than expected following a supply chain tour to the region to meet with 19 industry participants.
In a note released earlier this week, UBS says battery demand is being driven by combination of factors including by better electric vehicle (EV) sales, increasing battery size and dramatic growth in stationary storage demand.