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Albemarle Delays Additional Lithium Processing Capacity amid Glut

Metal News - Published on Mon, 11 Nov 2019

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Charlotte North Carolina based world's largest lithium producer Albemarle Corp has warned that prices for the battery metal are down nearly a third in the past year and that the industry has two to three times more supply than needed. Albemarle CEO Mr Luke Kissam told "We are and will be dealing with the challenging market conditions for the next 12 to 18 months. There's an oversupply in the market today."

Albemarle has delayed construction plans for about 125,000 tonnes of additional lithium processing capacity, part of a plan to be cash flow-positive within two years.

Despite the aggressive growth of the electric vehicle market, lithium producers are in a nightmare of their own making by having processed too much of the white metal, too fast.

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Posted By : Rabi Wangkhem on Mon, 11 Nov 2019
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