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Stock impact report

Pilbara Minerals May Double Lithium Output From Australian Mine [Yahoo! Finance Canada]

Albemarle Corporation (ALB) 
Last albemarle corporation earnings: 2/19 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.albemarle.com
confidence that prices in the key battery metal have stabilized after 2023's slump. Most Read from Bloomberg The company is looking to expand concentrate production to about 2 million tons per annum over the coming years, pending a final investment decision on its A$1.2 billion ($800 million) plan, it said in a statement Friday. A smaller expansion to lift output to 1 million tons is already under construction. ADVERTISEMENT Approving another ramp-up would be a big bet by Pilbara Minerals that prices of lithium spodumene are over the worst, after China's benchmark index slumped 81% last year amid a supply glut. While prices have stabilized in 2024 and long-term forecasts are bullish, the metal is still languishing near two-year lows as demand fails to keep pace with increased global production. Pilbara Minerals shares fell as much as 3.9% on Friday after the announcement to the lowest since August 2022. Lithium carbonate prices may recover over the longer term to about $1, Show less Read more
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