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Albemarle risks losing lithium market to China on weak prices

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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.

 

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