Related: Lithium ETF Powers Down on Morgan Stanley’s Dismal Forecast

“A report released this week by Canaccord Genuity is much more sanguine about the outlook for the battery raw material,” according to Mining.com. “The Canadian financial services firm also predicts a rush of new tonnes hitting the market, but expects most of the new supply to come from higher-cost hard rock mines producing lithium concentrate or ore. The firm now sees surpluses only arising in 2020 and only if converter capacity can catch up with mine supply.”

LIT is up more than 2% over the past week. Year-to-date, investors have added $81.41 million to the fund.

For more information on the materials space, visit our basic materials category.

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