The Zhitong Finance App learned that Goldman Sachs released a research report stating that it will raise the 2026 average price forecast for China's spot lithium carbonate by 1% to 18,900 US dollars or 140,000 yuan per ton; next year's forecast will be raised 33% to 13,700 US dollars or 100,000 yuan per ton; and the 2028 forecast will be lowered by 31% to 11,000 US dollars or 84,000 yuan per ton.

The bank pointed out that for most of this year, there was a shortage of about 16% of lithium supply in China and the world. By the fourth quarter, supply and demand levels were close to balance. It is expected that there will be an 8% to 18% oversupply next year and 2028. Therefore, it believes that the benchmark price of lithium carbonate will peak this year and fall from next year.

Goldman Sachs adjusted the profit forecasts of each lithium company accordingly, raising Ganfeng Lithium's (01772) 2026-2028 profit forecast by 33%, 120% and 76% respectively, to maintain a “neutral” rating. The target price was lowered from HK$46 to HK$31.

For Tianqi Lithium (09696), Goldman Sachs raised its 2026-2028 profit forecast by 14%, 45% and 62%, respectively, to maintain the “sell” rating. The target price was lowered from HK$33 to HK$22. Due to the relatively small contribution of the lithium business of Zijin Mining (02899) to profits and limited sensitivity to the latest changes in lithium price predictions, Goldman Sachs did not make any forecast adjustments.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.