Albemarle risks losing lithium market to China on weak prices

Albemarle , the world’s top lithium producer, faces the risk of losing market share to China after the company had to pump the breaks on expansion plans amid falling prices for the battery metal.Chief executive Kent Master acknowledged in a conference call last week that the company will likely cede market share to Chinese rivals.

“The firm has ~80% of volumes on contracts, with lags and floors, which helps limit downside, but it isn’t clear 1) where those floors kick in and 2) if they will hold in a prolonged downturn,” UBS experts wrote on Monday. The investment firm kept its underweight rating on the company and cut its price target to $90 from $155.

Miners also have to add to the equation the fact that Chinese companies continue to push with their development projects, despite the weak market.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Stocks making big moves premarket: Dish Network, Bluegreen, Albemarle and moreThese are some of the stocks posting the largest moves in premarket trading.
Fuente: CNBC - 🏆 12. / 72 Leer más »

Stocks making the biggest moves midday: Hilton Grand Vacations, Paramount, Albemarle and moreThese are the stocks posting the largest moves in midday trading.
Fuente: CNBC - 🏆 12. / 72 Leer más »