Albemarle cuts 2019 forecast on lithium price pressure

Demand for lithium, a key component of batteries used in cell phones, electric vehicles and other consumer goods, is widely expected to spike by 2025. Albemarle also trimmed its 2019 net sales forecast range to $3.6 billion to $3.7 billion, from $3.65 billion to $3.85 billion. The company also reported preliminary third quarter adjusted profit of $1.53 per share hit by weakness in its lithium unit, which offset results from its bromine and catalysts units. …read more

Source:: Yahoo Finance


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