Reported 8 months ago
Albemarle Corp. executive Eric Norris stated at an industry conference in Las Vegas that the low price of lithium does not justify investments in new plants for the battery metal. Despite a temporary rebound, lithium prices have weakened, leading to inventory build-up amid a lackluster demand for electric vehicles. Albemarle, the world's leading lithium producer, is working towards transparent global pricing by hosting multiple auctions. Norris believes that while current market levels are concerning, the long-term demand for lithium remains strong due to the expected growth in electric vehicle demand.
Source: YAHOO