LiveWire

For 2021, Albemarle on Wednesday said it expects to record an adjusted profit of $3.25 to $3.65 a share, down from $4.12 a share last year. That outlook was below what Seaport Global was looking for, in part because of a higher share count and more interest costs. Albemarle also said it believes prices for lithium will be down a bit this year. Revenue for that unit is expected to be at its lowest point during the first quarter, the company said. This year, meanwhile, Albemarle expects to complete one facility in Chile that converts brines that contain the soft metal into lithium carbonate and another plant in Australia that converts a mineral into lithium hydroxide. The latter property is 60% owned by Albemarle. Other lithium producers are eyeing capacity expansions amid moves by major auto makers to focus on electric vehicles. The company also said it believes its bromine unit, which provides chemicals used in flame retardants, will improve modestly in 2021 as the broader economy recovers.- WSJ

Shareholders were dissatisfied, as Danone underperformed its competitors like Unilever and Nestlé in the past 5 years. As part of the plan, €1 billion of costs to be cut by 2023, restructuring of the production line and the sale of underperforming businesses and brands. A more detailed plan will be be presented on March 25.

Platinum has emerged as this year’s top-performing major precious metal, surging to the highest since 2014. Its use in catalytic converters has propelled demand amid optimism over the automobile industry’s post-pandemic recovery and stricter emissions rules for vehicles. Holdings in platinum-backed exchange traded funds have hit a record. “There remains a convincing fundamental case for higher platinum prices,” wrote Georgette Boele, senior precious metals strategist at ABN Amro Bank NV, who upped the bank’s forecast to $1,400 an ounce by the end of 2022. “We continue to expect strong industrial demand and demand for car converters. Moreover, platinum prices may not be as cheap as they were, but they are still relatively cheap compared to other precious metals.” - Bloomberg

Read our blog from Feb 8 for more details: Should I buy oil stocks now?

Source: www.zerohedge.com, Bloomberg