Lithium posted a strong week, with carbonate gaining almost 5% although Ganfeng Lithium, one of China’s largest producers, warned at a Shanghai conference that price swings have become more extreme and cycles shorter, noting the market had experienced “an entire price cycle just from the beginning of this year” – our stocks have certainly reflected this with PLS -32% and IGO -37% notably underperforming the materials sector YTD.
- We believe lithium stocks are now “looking for a low” although the trend is clearly down so far in 2026.
We are turning cautiously bullish towards lithium and the related miners
