UPDATE 1-Australia's Orocobre says coronavirus outbreak to hit lithium demand into 2021 [Reuters]
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Source: Reuters
UPDATE 1-Australia's Orocobre says coronavirus outbreak to hit lithium demand into 2021 (Recasts with comments on lithium demand, withdrawal of guidance) April 22 (Reuters) - Australia’s Orocobre Ltd warned on Wednesday that a downturn in U.S. and European car markets due to the coronavirus pandemic and ensuing factory shutdowns could hit lithium demand until early to mid-2021. The warning comes as demand for commodities across the globe has suffered amid lockdowns to halt the spread of the novel coronavirus, with economic activity virtually grinding to a halt. U.S. oil prices on Monday temporarily turned negative for the first time in history and remain at near two-decade lows. In China, the miner expects government stimulus and a strong performance from U.S.-based electric car maker Tesla to counter weak consumer demand, as factories in the country slowly restart operations following the lifting of restrictions. Outside China, though, Orocobre expects the battery supply chain to be
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