Albemarle pulls 2020 forecast, cuts budget due to coronavirus
Albemarle, the world's largest producer of lithium for electric vehicle batteries, cut its 2020 budget and pulled its annual forecast on Wednesday as sales drop amid the global spread of the coronavirus.
The steps reflect the first concrete signs that the lithium industry is beginning to feel the pain of sliding automobile sales and the economic malaise caused by the coronavirus, which causes the Covid-19 respiratory disease.