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- China's woes are weighing on critical metals, said Matt Watson, founder of Precious Metals Commodity Management.Battery metals have been in a slump in 2023 after a blistering 2022. Lithium, lithium carbonate and lithium hydroxide are all down over 50% year-to-date according to Benchmark Mineral Intelligence index. Since late last year, Tesla has slashed the prices of its vehicles several times in various markets."We've seen all these metals relax," said Watson.
Watson noted that China's economic problems, which include property sector wobbles and high youth unemployment levels, are weighing on critical metals. "China is at the heart of that discussion right now. There's a sentiment...that China really is in trouble," said Watson."I'm developing a gloomier outlook by the week, and I think that's a concern shared by a number of analysts."
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