Lithium's Ongoing Slump Has Traders Searching for Recovery Signs [BNN Bloomberg (Canada)]
Albemarle Corporation (ALB)
Last albemarle corporation earnings: 2/19 04:15 pm
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Source: BNN Bloomberg
Spot prices of lithium carbonate in China have slid to the lowest since August 2021 and the most-active futures on the Guangzhou exchange have lost 12% so far this month. In top producer Albemarle Corp.'s latest auction on June 19, the winning bid was down 6.9% from the previous sale on June 5. The declines follow a plunge of more than 80% in 2023 due to a glut and slowing demand growth. Although prices stabilized earlier this year, the supply-chain is still working to clear inventories, with customers holding off purchases. The bearish sentiment has also been wreaking havoc on the stock prices of producers, including Albemarle and Piedmont Lithium Inc. Rising lithium production and expectations of a summer lull are weighing on prices, according to Susan Zou, an analyst at researcher Rystad Energy. Despite the brief rebound earlier this year — underpinned by lower supply around China's Lunar New Year holiday period and traders' speculative buying — upward drivers have “mostly dis
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ALB
News
- Albemarle's Annual Sustainability Day Highlights Progress Toward Building a More Resilient World [Yahoo! Finance]Yahoo! Finance
- Albemarle's Annual Sustainability Day Highlights Progress Toward Building a More Resilient WorldPR Newswire
- Plastic Additive Market Thrives with Rising Demand in Packaging, Construction, and Automotive Sectors Says Future Market Insights, Inc. [Yahoo! Finance]Yahoo! Finance
- Lithium Crashes Again As EV Sales Stall, With Worse To Come, Says Citi [Forbes]Forbes
- Albemarle Co. (NYSE: ALB) had its price target lowered by analysts at Piper Sandler from $122.00 to $95.00. They now have an "underweight" rating on the stock.MarketBeat
ALB
Earnings
- 5/1/24 - Miss
ALB
Sec Filings
- 6/20/24 - Form 11-K
- 5/15/24 - Form 4
- 5/15/24 - Form 144
- ALB's page on the SEC website