Energy & Science
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
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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.”