I wonder what drove that decision…
Lithium producer Albemarle to cut workforce, lower spending in 2024
Jan 17th, 06:25:16
(PiQSuite.Com) - Lithium producer Albemarle said on Wednesday it will reduce its workforce and cut spending on certain projects this year, as it looks to curb costs.
Shares of the world's largest lithium producer rose 1.4% premarket to $127.67 after the company said it would reduce its expenditure on contracted services as well as defer spending on two lithium projects.
Spot prices of lithium, used in electric vehicles batteries, declined over 80% in 2023 as growing supply from all major producers outpaced rise in demand from battery users.
https://PiQSuite.com/reuters/lithium-pr … ng-in-2024