Battery Metals Stocks Drain, But the Industry Outlook Remains Charged

It’s been a tale of two metals with the battery metals stocks as lithium shares have sagged while cobalt stocks have been surging

Despite the growing attention the battery market is getting (with its implications within electric vehicles and energy storage), the metals market seems to diverge on price. The lithium companies in our index have declined 5.4% on average since the start of the year, whereas cobalt stocks have risen 39.3%. This compares to YTD ~1.0% decline in the TSX. It appears that lithium companies have performed poorly due to fears of oversupply in the global market. In this edition of the Battery Metals report, we provide some industry highlights, dive into demand determinants and how they are currently working in the industry’s favour, and shine a spotlight on three companies that have had an interesting three months.

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