Livent CEO sees ‘difficult environment’ for lithium industry

The lithium industry is working through “difficult” times due to low prices for the battery metal and global oversupply concerns, Livent Corp Paul Graves said on Wednesday.

“It’s a difficult environment to do business,” Graves said in an interview. “We’re focused on long-term relationships with our customers, understanding what they need this year and next year.”

The company late Tuesday cut its full-year revenue and earnings forecast as it decided to delay shipping lithium hydroxide to customers until they need it in 2020.

(By Ernest Scheyder; Editing by Chizu Nomiyama)