The Latin Resources Ltd (ASX: LRS) share price was under pressure again on Thursday.
The lithium explorer's shares have just ended the day 7% lower at 26.5 cents.
This means the ASX lithium share has lost 30% of its value in September.
What's going on with the Latin Resources share price?
Investors have been selling down the company's shares this month despite there being no news out of it.
However, it is worth highlighting that the Latin Resources share price isn't alone in its sizeable decline.
A number of other ASX lithium shares have been hit very hard in September. This includes Argosy Minerals Limited (ASX: AGY), Lake Resources N.L. (ASX: LKE), Sayona Mining Ltd (ASX: SYA), and even Pilbara Minerals Ltd (ASX: PLS).
Investors appear concerned by falling lithium prices and rising battery materials inventories. It was because of the latter that analysts at Morgan Stanley downgraded IGO Ltd (ASX: IGO) shares to the equivalent of a sell rating this morning.
But if you were hoping the pain was over for lithium prices, then you won't want to hear what Goldman Sachs is saying. It is forecasting the following compared to current spot and January prices:
- Lithium carbonate (per tonne)
- January 2023: US$66,750
- Current spot: US$25,032
- 2023: US$38,794
- 2024: US$15,331
- 2025: US$11,000
- 2026: US$16,883
- Lithium spodumene 6% (per tonne)
- January 2023: US$5,990
- Current spot: US$3,010
- 2023: US$4,341
- 2024: US$1,763
- 2025: US$800
- 2026: US$1,126
