🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Lithium Market `Problematic' on Project Delays, Livent CEO Says

Published 06/11/2018, 18:20
Updated 06/11/2018, 21:53
© Reuters.  Lithium Market `Problematic' on Project Delays, Livent CEO Says
FMC
-

(Bloomberg) -- The lithium industry’s struggle to match booming demand for the rechargeable-battery ingredient is “problematic” and will further tighten the market, according to the only lithium pure-play trading in New York.

“It’s almost impossible for me to see a meaningful decrease” in lithium prices, Livent Corp. Chief Executive Officer Paul Graves said in a telephone interview Tuesday after the company presented quarterly earnings. “Whenever you have less supply than expected, it will create more tightness.”

Santiago-based SQM was the latest lithium producer to report a project delay as suppliers react to global demand that, according to Graves, probably will quadruple by 2025 as electric-vehicle sales accelerate.

Livent, spun off from chemicals giant FMC Corp (NYSE:FMC). and listed on the New York Stock Exchange last month, is also planning to expand operations at the Hombre Muerto salt flat in Argentina. The company has all the approvals it needs to start construction there, Graves said. Livent will ramp up its first 9,500-ton-per-year expansion in the second half of 2020 and will work toward three more expansions of similar size through 2024.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.