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Albemarle powers up production as lithium export price hits five year low

Chile 86 Cons. Discr. - Autos 1008 Earnings 555 Materials - Chemicals 186 Materials - Metals/Mining 660 Quote Watch 321 U.S. 4832

Albemarle reported an 11.4% decline in Q4’20 revenues as the specialty chemical firm suffered a slide in catalyst sales due to reduced driving during the pandemic as well as weaker lithium sales resulting from reduced prices. Lithium is the future for the firm with CEO Jerry Masters stating “demand will reach more than 1.1 million tons by 2025, up from around 300,000 tons today.” The firm’s production capacity in Chile will increase with two new facilities from mid-2021, which follows a 19.5% year over year expansion in its exports of lithium from Chile in Q4’20. Reduced pricing continue...

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