LAS VEGAS (Reuters) – Albemarle, the world’s largest lithium producer, is concerned about current prices for the metal used to make electric vehicle batteries but believes long-term demand will remain strong, an executive said on Tuesday.
The company, which operates across the Americas, Asia and Australia, cut staff and paused expansion projects in January after prices fell more than 81% in 2023.
“Lithium prices that we’re facing at these levels are concerning,” Eric Norris, head of Albemarle’s energy storage business, told the Fastmarkets Lithium Supply and Battery Raw Materials Conference in Las Vegas. “But I believe the energy transition is inevitable. Our long term demand projections (for lithium) are just as robust that they’ve always been.”
(Reporting by Ernest Scheyder)
