Albemarle loses more than $1 billion in Q3 on falling lithium prices
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Albemarle, the largest lithium producer, reported a loss of over $1 billion in Q3 due to a 71% drop in lithium prices. The company plans to reduce its capital budget.
November 06, 2024 | 9:45 pm
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Albemarle reported a significant loss of over $1 billion in Q3 due to a sharp decline in lithium prices. The company is also planning to reduce its capital budget.
The substantial loss and the decision to cut the capital budget indicate financial strain due to falling lithium prices. This is likely to negatively impact Albemarle's stock price in the short term.
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