Lithium stocks tumbled today, making up 8 of the worst 10 performers in the ASX200 for the session. The move came after rumours a Chinese battery manufacturer was set to significantly cut output expectations resulting in softening demand for the battery mineral by as early as the middle of next year. The news caused one Chinese lithium futures price to drop by more than 7% in the session, though the rumours are yet to be confirmed, or the company expected to downgrade been named. Pilbara (PLS) was caught up in the selling, and adding to the pain was AusSuper whose holding fell below the significant shareholder threshold after being net sellers for much of the last week.
MM are cautious on the crowded ESG trade short-term
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