Shares of lithium miners head lower on falling carbonate prices

American Lithium

14/08/2023 19:02

** Shares of lithium producers and miners fall as spot
prices of lithium carbonate drop in China 
    ** Sigma Lithium  SGML.O  down ~4%, Albemarle  ALB.N  falls
1.9%, Piedmont Lithium  PLL.O  inches 0.5% lower
    ** The prices of Chinese spot lithium carbonate decline to
the range of $34-36 per kg from $34-37.5 per kg in the previous
session, per a Fastmarkets report
    ** MBI Lithium carbonate 99.5% Li2CO3 min battery grade spot
prices cif China Japan & Korea  MB-LI-0029  was at its lowest in
2-1/2 weeks
    ** The spot price retreated in this session amid weak demand
and pressure from the softening Chinese market, while sentiment
remained bearish - Fastmarkets
    ** Earlier on Monday, far-right libertarian economist Javier
Milei posts shock-win in Argentina's primary election, where
miners Livent  LTHM.N  and American Lithium  AMLI.O  operate
    ** Livent  LTHM.N  and U.S.-listed shares of American
Lithium  AMLI.O  fall 1.9% and 0.8%, respectively
    ** In June, analysts said growing supply of the metal would
outpace demand


 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))