The report highlights a bearish outlook for lithium prices due to oversupply and notes that energy markets are transitioning from geopolitical risk to structural fragility. Gold remains a structural buy despite short-term rate-hike pressures.
Key Takeaways
- 1.Lithium prices are expected to retrace further to USD16,000/t as supply constraints ease and the market remains oversupplied.
- 2.Geopolitical risk premium in oil prices is expected to remain, with Brent forecast above USD90/bbl through 2026.
- 3.Gold faces short-term headwinds from hawkish rate expectations but remains supported by structural factors like debt and de-dollarisation.
Table of Contents
- Strategy
- Energy
- Carbon
- Base and critical minerals
- Precious metals
- Bulk commodities
- Weather
- Southern oscillation
- Medium-term (1- to 3-month) outlook
- Month in review
- Calendar
- Previous reports
- Commodity performance
- Investor positioning
- Inventory and prices
- ANZ forecasts
- Important Notice
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Authors
Soni KumariDaniel Hynes
Securities
Brent Crude Oil
Themes
El Niño / Climate RiskEnergy TransitionGeopolitical Fragmentation
Regions
GlobalMiddle EastEuropeChinaAustraliaZimbabwe