China Plans To Sideline Lithium Competition. Albemarle Stock Rises.
1. Albemarle shares rose 3.19% following China's industry curbs announcement. 2. China aims to stabilize EV supply chain by reducing excessive capacity. 3. Albemarle's operating profit is expected to fall drastically to $1 million this year. 4. Reduction in lithium capacity raised benchmark prices to $10,000 per metric ton. 5. Albemarle's stock has increased 20% over the past month amid market fluctuations.