LTHM - Albemarle warns of EV slowdown if weak lithium prices persist

Global lithium supplies will fall short of projections for demand to more than triple by 2025 if prices do not rebound to fund expansions, says Eric Norris, who runs the lithium business for leading producer Albemarle (ALB).Prices for lithium fell last year due in part to the pandemic, forcing Albemarle and other producers to pause expansion plans, a step they will reverse only if the price is right, Norris tells the Reuters Next conference.Global lithium supply and demand at the end of 2020 was nearly even, according to data from Benchmark Mineral Intelligence, but by 2025, demand is forecast to outstrip supply by nearly 228K metric tons.Lithium prices have started to edge higher, especially in China, the world's largest electric vehicle market, but must rise at least 10% more to make any expansions worthwhile, Norris says.Other potentially relevant tickers include [[SQM]], [[LTHM]], [[LAC]].Albemarle said last week it would expand capacity

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Albemarle warns of EV slowdown if weak lithium prices persist