Lithium sector faces significant ‘pressure' amid weak electric vehicle demand
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.'
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