Lithium Miners Warn on Plunging Profits After Price Freefall

Two of China’s biggest lithium companies became the latest miners to issue stark warnings over the health of the battery metal industry, telling investors to prepare for tumbling profits and asset writedowns.

A slump across battery materials has upended projects worldwide as gluts emerge, even as optimism about the outlook for electric vehicles persists. With prices in free fall, miners are imposing production cuts and seeking to rein in costs.