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Global Commodities Roundup: Market Talk
Morgan Stanley: Lithium market expected to remain tight
Gelonghui, June 16 | Morgan Stanley expects the lithium market to remain tight in the near term. The bank noted that China's battery electric vehicle (BEV) sales rebounded sharply in May, rising 13% month-over-month. Morgan Stanley also highlighted robust global growth in energy storage system shipments and the accelerating electrification of trucks in China. However, supported by higher prices, lithium supply is also expected to recover. The bank pointed to the resumption of lithium exports from Zimbabwe and the restart of certain mines in Australia, adding that brownfield expansion projects are also beginning to emerge. Morgan Stanley maintains a neutral rating on Australia’s Pilbara Minerals (PLS) and prefers PLS over its peer IGO.
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