
Albemarle Swings to Profit, Lowers Spending Amid Prolonged Lithium Slump
Albemarle (NYSE:ALB), one of the world’s largest lithium producers, is cutting costs and narrowing its capital investment plans as it adjusts to ongoing weakness in lithium prices, even as demand from electric vehicle and energy storage sectors holds up better than expected. The Charlotte-based company reported a second-quarter profit of US$22.9 million, a significant turnaround…