The Orocobre Ltd (ASX: ORE) share price sunk 6.3% to $3.60 today despite the lithium miner releasing no specific news to the market. For the six-month period ending December 31 2018 the lithium miner posted profit of US$24.1 million, including a tax profit of US$15.2 million and foreign exchange charge of US$7.9 million.
Over the period it produced 6,075 tonnes of its lithium carbonate principally from its Argentinian Olaroz Lithium Facility that produced revenue of US$63.5 million on 5,163 tonnes of lithium produced.
The average price received over the period was US$12,295 per tonne, compared to US$11,415 per tonne in the prior corresponding period.
The Galaxy Resources Ltd (ASX: GXY) share price also fell 4.2% to $2.04 today which suggests general weakness across the lithium sector on the back of an expectation that lithium prices could soften on a changing supply and demand dynamic.
Lithium is not exchange traded on a spot or cash settled futures basis such as gold or crude oil and its price opacity then can lead to large share price swings.
Lithium investors then should buckle in for what may be a wild ride ahead.
