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Albemarle, the world's largest lithium producer, reported a quarterly profit of $319.1 millionβmore than double Wall Street's expectationsβlargely driven by rising lithium prices and sales, as demand from the electric vehicle and energy storage sectors increases amid tightened supply due to various factors, leading to a more than 9% surge in the company's shares. #Lithium #ElectricVehicles #EnergyStorage #CN #ZW #AU #US
www.reuters.com
Albemarle's profit far exceed expectations as lithium prices rebound
May 6 (Reuters) - Albemarle (ALB. N), opens new tab, the world's largest lithium producer, posted a quarterly profit on Wednesday more than double Wall Street's expectations due to rising prices and sales of the battery metal, and its shares rose more than 9%.