Albemarle CEO Says The Physical Lithium Market Remains Tight
ALB•Operational updates and direct lithium extraction plans
- CEO: All three processing trains at Wodgina mine in Australia are now operating.
- CEO: Best opportunity to deploy direct lithium extraction (DLE) is at existing Chile operations.
- CEO: In March applied for environmental permit to use DLE in Chile.
- CEO: Long-term plan is to deploy six DLE trains in Chile.
CEO says lithium market remains tight amid low inventories
Aug. 6 (Reuters) - Albemarle Corp ALB.N:
- CEO Kent Masters: Global lithium inventories are low as weak supply fails to match rising EV and battery storage demand.
- CEO says the physical lithium market remains tight.
- CEO: Seeing resilient demand trends for lithium across all customer end markets.
Forecasts raised for battery storage and long-term lithium demand
- CEO: Raising estimate for 2026 battery storage production by 11%.
- CEO: Raising low end of 2030 forecast for global lithium demand by 100,000 metric tons.
- CEO: Battery storage should make up 30% of global lithium demand this year, nearly in line with demand from the light-duty EV market.
