[ferro-alloys.com]Lithium producer Orocobre has cut its production guidance for fiscal 2019 as rainfall at its flagship Olaroz lithium facility in Argentina reduced the project’s output, sending its shares to a near two-month low.

The miner said in a statement on Tuesday that it expects annual production to be about the same as in fiscal 2018, down from an earlier forecast of higher than in 2018.

The rains have not caused any material production stoppages or other disruptions, but output has been affected by dilution of the brine feedstock, Orocobre said.

Orocobre produced 12,470 tonnes of lithium carbonate in fiscal 2018, five per cent higher than a year earlier.

The Brisbane-based company’s shares were trading down 4.23 per cent at 1114 AEDT, at $293.50.

An oversupply of lithium in 2018 nearly halved prices in China, halting an unprecedented run for the key component for batteries used in electric vehicles.

（The West Australian）

• [Editor:王可]