Albemarle Plans More Lithium Auctions in Bid to Demystify Prices

(Bloomberg) — Albemarle Corp. is planning to stage more lithium auctions — including some outside China — as the world’s largest producer of the battery metal aims to shed more light on pricing in an opaque market.

Albemarle held four auctions of spodumene concentrate, a high-purity lithium ore, and lithium carbonate in China in March and April because of a build-up in inventories, Chief Executive Officer Kent Masters said Thursday in an earnings call. The U.S. producer intends to hold more auctions in China as well as other locations such as Australia while adding lithium hydroxide to its offerings.