eToro Market Analyst Josh Gilbert says the Australian lithium sector is under pressure amid weak electric vehicle demand and high Chinese inventories.
“It comes after what’s been a really tough year for lithium miners,” Mr Gilbert told Sky News host Ed Boyd.
“Pilbara, which is one of the biggest names here in Australia, has been one of the worst performers on the ASX200 so far this year.
“Lithium prices have fallen … for context, prices are down about 40 per cent.
“That’s coming from a few things, right, weak electric vehicle demand … high inventories … really putting pressure on the lithium sector.”
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.