Commodities
Albemarle Plans to Auction Lithium With Aim of ‘Fair’ Price
- Move could help open up the market to commodity traders
- Market is showing tentative signs of life following rout
Sacks of lithium carbonate at the Albemarle Corp.'s lithium processing facility in Antofagasta, Chile.
Photographer: Cristobal Olivares/BloombergThis article is for subscribers only.
The world’s biggest lithium producer, Albemarle Corp., plans to sell some of its metal in auctions, which it says will help make an opaque market more transparent.
Albemarle has for the first time outlined a bidding model where buyers can “state what they consider the appropriate price to be through private bids,” according to an emailed company statement. It said the pricing mechanism will promote price transparency.