Albemarle Wrestles with Weakening Lithium Trends as Mines Ramp Up
Attachment: Albemarle 3Q23
November 10, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Executives at Albemarle Corporation (NYSE:ALB) (Charlotte, North Carolina) are optimistic about the long-term potential for lithium and its byproducts, but voiced concern about a recent weakness in prices and softening demand for electric vehicles (EVs), a crucial part of the rationale for developing high-value projects to extract and process lithium.
Industrial Info is tracking nearly $6 billion worth of active and planned projects from Albemarle worldwide, including more than $2.2 billion worth in North America. Assuming recent trends in lithium market pricing will continue through the end of the year, Albemarle now anticipates net sales will total between $9.5 billion and $9.8 billion for 2023, down from the previous range.
Other companies featured: Caterpillar Incorporated (NYSE:CAT)
