04
May
14:32
Albemarle reports fourfold increase in Q1 net profit
US-based lithium producer Albemarle saw its net profit increase fourfold in the first quarter of the year, thanks to higher lithium prices and increased sales, Kallanish reports.
The company posted a net income of $1.24 billion or $10.51 per share, up from $263.4 million or $2.15 a share in Q1 2022. Net sales surged 129% to $2.6 billion, compared to $1.1 billion a year earlier. Ceo Kent Masters described the results as “a robust start to the year.”
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Very good overview of the weekly steel market.
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