LONDON, June 24 (Reuters) – Albemarle Corp., the world’s largest lithium producer, is not impressed by the London Metal Exchange’s (LME) plans to launch a lithium contract.
“An exchange contract tends to support a commodity market, and that’s not what we believe this (lithium market) is,” David Ryan, the company’s head of corporate strategy and investor relations, told an industry conference in Chile earlier this month.
The conference was hosted by Fastmarkets, which has been chosen by the LME to provide the reference price for the new contract, but Albemarle won’t be contributing, for now at least. It and other established producers believe that lithium is a specialty chemicals market and should be priced on a contract-by-contract basis. Continue Reading →