Citi Lowers Three-Month Lithium Forecasts to $12,000 a Ton

Citi lowered its three-month forecasts for lithium carbonate and lithium hydroxide to $12,000 a ton each, reflecting slower battery-demand growth and mounting trade and economic pressure.

The carbonate forecast fell from $20,000 a ton, while the hydroxide forecast dropped from $17,000 a ton. The revisions leave both three-month estimates at the same level.

Citi also reduced its lithium price outlook for the next two years. It linked the lower outlook to slower battery-demand growth, uncertainty around trade and broader macroeconomic headwinds.

A separate Mizuho forecast for lithium carbonate put the price at $22,500 per metric ton by the end of 2027, up from $18,375. That longer-range forecast has a different horizon from Citi’s three-month estimates.