FMC to Increase Lithium Prices 15 Percent

FMC (NYSE:FMC) announced it would increase prices for most of its lithium products by 15 percent starting October 1. This includes lithium carbonate, lithium chloride and lithium hydroxide.
The only exception is specialty organic products, including all grades of butyllithium, will increase by $3.50 per kilogram on a contracted basis.
As quoted in the press release:

All products including lithium carbonate, lithium chloride, lithium hydroxide and all other products except Specialty Organics will increase by 15 percent.  Specialty Organics products, which include all grades of butyllithium, will increase by $3.50 per kilogram on a contained basis.  The increases apply to all standard and non-standard pricing.

Chris Senyk, director of marketing for FMC, said:

Continued market growth is outpacing current industry supply capabilities for most of our product lines.  For butyllithium, growing demand in all regions has improved market conditions. Price increases are necessary to re-invest in our global manufacturing facilities and continue reliable supply of high-quality lithium products.

Click here for the full press release.