As lithium miners gear up for first-quarter earnings, investors focus on tumbling prices

U.S. lithium miners Albemarle and Livent are expected to report a rise in quarterly profit this week, but investor focus will likely be on how they plan to navigate the slide in prices for the metal used in electric-vehicle batteries.

But a slump in demand for electric vehicles in China, the world's biggest market, left a stockpile of the metal and drove prices down. Earnings of Albemarle and Livent in the first quarter, however, are expected to reflect"peak spot price conditions" as the producers settled their lithium contracts before the steep fall in prices, according to Seth Goldstein, an analyst at Morningstar.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall St stocks, dollar gain with data; Fed, earnings in the wingsThe S&P 500 and the Dow were up slightly while the Nasdaq fell and the dollar gained as investors waited for clues on the Federal Reserve's interest rate path as well as a raft of economic data and quarterly earnings reports.Crude oil prices were lower as investors waited anxiously for the Fed's interest
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »