The Core Lithium Ltd (ASX: CXO) share price has continued to head south in June.
Shares in the Australian lithium producer are trading at 97.5 cents this morning, down 1%.
This means that the Core Lithium share price has lost 30.5% since this time last month.
Let's take a look at what could be driving the fall.
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What's happening with Core Lithium?
Investors are continuing to offload Core Lithium shares after heavy losses across the lithium sector in the past month.
The prominent investment firm, Goldman Sachs sent shockwaves across the lithium industry with its bearish report in late May.
The broker forecasted that lithium prices would drop to US$16,400 per tonne in 2023, before rebounding in the following year.
At the time of writing, the price for lithium carbonate is around US$71,200 per tonne.
Notably, when the report came to light, the Core Lithium share price plummeted 20.43% to $1.11 along with other ASX lithium shares on 1 June.
And while its shares moved in circles in the following weeks, the company's Finniss Lithium Project update drew more wrath from investors.
When released on 21 June, Core Lithium shares sank 6.51% with another 15.42% decline the next day.
Evidently, this caused its shares to register a three-month low of 82 cents on 23 June.
On the upside, Core Lithium is targeting first production of spodumene concentrate by the end of the 2022 calendar year.
If they keep to this schedule, it could bode well for the lithium developer should prices remain stable.
Core Lithium share price summary
Despite its recent falls, the Core Lithium share price has stormed 67% higher in 2022.
When looking at the longer term, the company's shares are up an astonishing 320% over the past 12 months.
For context, the S&P/ASX 200 Materials (ASX: XMJ) index has tumbled 4% in 2022, and 5% since this time last year.
Based on today's price, Core Lithium commands a market capitalisation of roughly $1.7 billion.
