‘Huge fall’: Price of Lithium drops due to ‘massive oversupply’

Описание к видео ‘Huge fall’: Price of Lithium drops due to ‘massive oversupply’

The lithium market is facing a serious problem, and Australia’s largest lithium producer, Pilbara Minerals, is set to report its quarterly results on Wednesday.

Sky News Business Reporter Edward Boyd says the problem is due to a “massive oversupply”.

“The price of lithium is down by about 80 per cent in just a little bit over 12 months,” Mr Boyd said.

“It’s a huge fall for the price of lithium.

“Some of the smaller producers have already announced they’re going to stop mining lithium, and just mine the stockpiles of their mines at the moment."

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