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Main lithium producer Albemarle (NYSE:ALB) mentioned it plans to promote a few of its metallic in auctions, as a part of an effort to enhance market transparency, Bloomberg reported Thursday.
Along with London Steel Trade accomplice Metalshub, Albemarle (ALB) mentioned it plans to carry a number of auctions for lithium provides to permit potential prospects to “state what they contemplate the suitable worth to be by non-public bids,” in keeping with the report.
The corporate mentioned it’ll host a bidding occasion for 10K tons of chemical-grade spodumene on March 26 and 100 tons of battery-grade carbonate on April 2.
Lithium has been offered on long-term contracts by Albemarle (ALB) and different producers, making it troublesome for automakers and different prospects to find out a benchmark worth, however the firm’s transfer ultimately may show important in opening up the market to commodity merchants.
The public sale strategy “can result in truthful product valuation – for each patrons and sellers – and drive in the direction of a extra strong, sustainable market,” the corporate mentioned.
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