Lithium giant Albemarle halts Australia plant expansion, reviews costs on weak lithium prices

The decision comes as the company reported a second-quarter net loss of $188 million, or $1.96 per share. Excluding items, it earned 4 cents a share.

Albemarle will halt the expansion of the Kemerton manufacturing plant in Australia as lithium prices remain weak and it reviews its cost structure.

Excluding a $215 million after-tax charge related to capital project asset write-offs related to a planned fourth processing line at Kemerton that Albemarle previously canceled, the company earned 4 cents per share.'Down for a little bit longer' Lithium prices have declined since May and are currently under $12,000 per metric ton, according to a Tuesday note from Berenberg. Demand in Europe has been largely flat and remains poor in the U.S. with a 10% gain this year, according to the bank. Prices likely will not recover until 2026, the firm said.

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