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BRIEF-Orocobre Posts Qtrly Olaroz Lithium Facility Production Of 3,586, Down 5%

Published 30/01/2020, 10:12 am
© Reuters.  BRIEF-Orocobre Posts Qtrly Olaroz Lithium Facility Production Of 3,586, Down 5%
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Jan 30 (Reuters) - Orocobre Ltd ORE.AX :

* QTRLY OLAROZ LITHIUM FACILITY PRODUCTION OROCOBRE EXPECTS THAT FULL-YEAR PRODUCTION FOR FY20 WILL BE AT LEAST 5% HIGHER THAN FY19

* QTRLY OLAROZ LITHIUM FACILITY SALES REVENUE $17.8 MILLION VERSUS $32 MILLION

* EXPECTS TO SEE WEAK LITHIUM MARKET FOR FIRST HALF OF CY20 WITH POTENTIAL MARKET BALANCE IMPROVEMENT BECOMING EVIDENT IN SECOND HALF OF CY20

* EXPECTS FULL-YEAR PRODUCTION FOR FY20 WILL BE AT LEAST 5% HIGHER THAN FY19

* RECOGNISING CURRENT MARKET CONDITIONS, FOCUS HAS BEEN ON PROCESS STABILITY & PRODUCT QUALITY RATHER THAN MAXIMISING PRODUCTION TONNAGE

* LITHIUM MARKET CONDITIONS REMAINED DIFFICULT FOR MOST OF DECEMBER QUARTER

* ENCOURAGING DEMAND INDICATORS, FURTHER SUPPLY CURTAILMENTS IN LATE CY19/EARLY CY20 EXPECTED TO PROGRESSIVELY IMPROVE MARKET BALANCE IN CY20

* ANTICIPATED THAT SUPPLY CURTAILMENTS WILL CONTINUE IN CY20 FOR THOSE OPERATIONS MOST SENSITIVE TO PRICE PRESSURE

* SEVERAL POSITIVE DEMAND SIGNALS EMERGED LATE IN DEC QUARTER/EARLY CY20 RELATING TO BOTH CHINA & EX- CHINA EV MARKET

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