May 3, 2018 / 2:46 PM / a year ago

FMC sees strong outlook for lithium demand, prices

TORONTO, May 3 (Reuters) - FMC Corporation “on track” for lithium IPO in October 2018 - CEO Pierre Brondeau FMC Corp says lithium customers increasingly seeking long-term supply commitments - CEO FMC Corp says nearly 60% of agriculture business EBITDA expected in first-half 2018, reversing pattern in previous years - CEO FMC Corp expects by end-2018 80% of its 2020 lithium hydroxide capacity will be committed under long-term contracts - CEO FMC Corp says this last quarter of extensive commentary on its lithium business due to SEC IPO filing this summer - CFO Paul Graves FMC Corp says lithium hydroxide customers “far more focused” on security of supply than price as demand poised to grow - CFO FMC Corp “pretty sure” of lithium price increases in 2018 and 2019, reflects annual price escalation in its contracts, industry supply-demand outlook - CEO FMC Corp sees $550-$700 mln capex for Argentina lithium expansion up to 2025, lithium hydroxide expansion capex seen at $100-$200 mln in next 3-4 years - CFO (Reporting by Susan Taylor)

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