Albemarle expects weak Q1 in China due to coronavirus

Albemarle, the world’s largest producer of lithium for electric vehicle batteries, said on Tuesday it is experiencing a “weak” first quarter in China, where most of the company’s processing facilities and customers are located.

None of the company’s employees have contracted the virus and so far there have only been minimal order reductions from customers. Logistic delays, though, “remain an area of concern,” chief financial officer Scott Tozier told the J.P. Morgan Industrials Conference, which was held entirely via webcast this year due to the virus.

(By Ernest Scheyder; Editing by Franklin Paul)