{"id":1091097,"date":"2018-12-20T11:10:27","date_gmt":"2018-12-20T11:10:27","guid":{"rendered":"http:\/\/www.mining.com\/?p=960316"},"modified":"2018-12-20T11:10:27","modified_gmt":"2018-12-20T11:10:27","slug":"orocobre-shares-crushed-on-weak-lithium-prices-outlook","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1091097","title":{"rendered":"Orocobre shares crushed on weak lithium prices, outlook"},"content":{"rendered":"

Shares in Australian lithium miner Orocobre\u00a0(ASX: ORE,TSX:\u00a0ORL)\u00a0collapsed Thursday after it said that prices received for its output<\/a> dropped in the half of its fiscal year ending in December, and noted it didn\u2019t expect a significant improvement in the short term.<\/p>\n

The Brisbane-based producer of lithium carbonate, used in the making of batteries that power electric vehicles, expects to obtain an average of $10,800 per tonne on about 2,850 tonnes of the product in the fourth quarter. That would be an 8% decline on the previous half and over 26% lower than the $14,699 per tonne the company received in the prior quarter.<\/p>\n

Orocobre\u2019s gloomy outlook worried investors and triggered the company shares to slump, closing 13.6% lower at A$3.37. It also dragged other lithium miners down \u2014 Galaxy Resources (ASX:GYX) fell 10.20% to A$2.23, Pilbara Minerals\u2019\u00a0(ASX: PLS)\u00a0stock price dropped 7.3% to 64 Australian cents, and\u00a0Kidman\u00a0Resources\u00a0(ASX: KDR)\u00a0closed has plunged 9.5% lower to $1.05.<\/p>\n

\"Orocobre<\/p>\n

\u201cThe pricing achieved recently has been affected by soft market conditions in\u00a0China, which\u00a0had a direct impact on shorter term contracts,\u201d Chief Executive Richard Seville said in an online update<\/a>.<\/p>\n

\u201cI\u2019m reluctant to provide guidance on pricing at this point [but] I\u2019d have to say it\u2019s not feeling strong. We are not expecting a rebound in pricing at this point in time.\u201d<\/p>\n

Orocobre\u2019s forecast are in line with Chile\u2019s lithium miner SQM, which flagged in August a downward trend in prices<\/a> caused partly by new supply ramping in Australia and an ever-rising number of projects expected to come online by 2020.<\/p>\n

Expected strong lithium demand<\/a> will not be able to offset a decline in prices experts say, even though they predict the need for the commodity from battery makers alone\u00a0will jump 650% by\u00a02027<\/a>, while overall demand is forecast to rise more than threefold in the next nine years.<\/p>\n

The post Orocobre shares crushed on weak lithium prices, outlook<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Brisbane-based lithium miner<\/p>\n

The post Orocobre shares crushed on weak lithium prices, outlook<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[405,524,404,369,764,426],"tags":[15,288],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1091097"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1091097"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1091097\/revisions"}],"predecessor-version":[{"id":1091304,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1091097\/revisions\/1091304"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1091097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1091097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1091097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}