Goldman Sachs published a research report, raising the 2026 average forecast for China's spot lithium carbonate benchmark price by 1% to 18,900 US dollars or 140,000 yuan per ton; next year's forecast is raised 33% to 13,700 US dollars or 100,000 yuan per ton; and the 2028 forecast is lowered by 31% to 11,000 US dollars or 84,000 yuan per ton. According to the bank, China and the world experienced a shortage of about 16% of lithium supply during most of this year. 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 is believed that the benchmark price of lithium carbonate will peak this year and fall from next year. Goldman Sachs raised Ganfeng Lithium's 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.

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