From Barron's February 20:
Ford Motor is cutting prices for its all-electric 2023 Mustang Mach-E, which is a negative sign about lithium demand.
Shares of the lithium miner Albemarle are having another very bad day, but unlike many times when stocks make large moves, there was no clear primary factor behind the loss.
In midday trading on Tuesday, the stock was the second-worst performer in the S&P 500. Only shares of Expeditors International of Washington , which slid 6.6% in response to the logistics company’s quarterly earnings, had fallen more.
As of midday, Albemarle stock was off 6.3% at $114.83 a share, while the S&P 500 and Nasdaq Composite were off 0.7% and 1.3%, respectively.
The loss in the overall market deserves some of the blame, but it doesn’t explain the entire drop. News about electric vehicles, which use lithium-ion batteries, are another part of the story.
Ford Motor said Tuesday that it was cutting prices for its all-electric 2023 Mustang Mach-Es. While prices for the 2024 cars are unaffected, the 2023 cuts show that there is still some excess inventory to clear out. Shares of Tesla , the biggest EV company, were down 3.7%....
....MUCH MORE
Recently:
Two of China’s Biggest Lithium Companies Warn Of Plunging Profits Due To Battery Metal Price Collapse
These are major, major players. Ganfang is the world's second largest lithium processor and Tianqi via its stakes in SQM and Talison mines around half the world's lithium.
"Battery Metal Price Plunge Is Closing Mines and Stalling Deals"
