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Goldman Says Bull Market in Battery Metals Is Finished for Now

  • Cobalt, lithium, nickel to fall in the next two years: Goldman
  • A new bull market may start in the second half of this decade
Bloomberg business news
WATCH: Prices for cobalt, lithium and nickel, metals used in batteries, will drop over the next two years, according to Goldman Sachs.Source: Bloomberg

Goldman Sachs Group Inc. said the price of three key battery metals -- cobalt, lithium and nickel -- will drop over the next two years after investors wanting exposure to the green-energy transition piled in too quickly.

“Investors are fully aware that battery metals will play a crucial role in the 21st century global economy,” Goldman analysts including Nicholas Snowdon and Aditi Rai said in a note on Sunday. “Yet despite this exponential demand profile, we see the battery metals bull market as over for now.”