Lithium Is on the Rise Again. Does That Make Albemarle a Buy?
Yahoo Finance ·
Shares of Albemarle ( ALB 3.22% ) are flat so far this year, thanks to an oversupply of lithium and a flattened demand for electric vehicles (EVs) in the United States. However, the long-term need for this critical metal is projected to increase 353% by the end of the decade, according to a report by the United Nations Conference on Trade and Development. Albemarle, the largest lithium miner in the world in terms of production, is in a good position to benefit from that trend. After lithium prices collapsed from their 2022 peaks, the market finally found its floor in late 2024 and has staged a resilient year-to-date rebound. Chinese spot prices have climbed back into the $23 per kilogram (kg) range, up from their $10 kg low in the fall of 2024, thanks to a restocking cycle by battery manufacturers.
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