Lithium miners soar as UBS lifts forecast prices
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The news: Lithium miners were leading gains on the ASX 200 after UBS analysts “materially increased” their short to mid term lithium price forecasts amid an 11% increase in demand driven by battery energy storage systems.
The numbers: At 3:47pm AEDT, shares in IGO were leading the ASX 200 having lifted 7.9% to $6.98.
Liontown (+4.4%), Mineral Resources (+4.7%) and Pilbara Minerals (+2%) were also higher.
The context: UBS’ global battery team upgraded expected global battery demand for between 2025 and 2030 by up to 11%. This is driven by a 4-37% incease in the demand for battery energy storage systems.
UBS analysts also increased its short to medium term price forecasts for calendar year 2026, 2027 and 2028 by 64%, 148% and 94% respectively.
The source: UBS research
