Higher EV adoption should drive strong lithium growth for narrow-moat Albemarle.
Shares of lithium producers Albemarle and SQM are down 9%-10% as we write, in the wake of a sell-side note that highlighted the risk of a supply overhang developing in the lithium market. The authors seem particularly concerned about rising supply in Chile and expect the lithium price to drop 45% by 2021 on its way to a long-term price of $7,030 per metric ton. We articulated similar concerns in our Jan. 18 note, "Low-Cost Chilean Expansions Lead to Lower Long-Term Lithium Price Forecast," which...
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