04
Nov
13:14
Legal dispute sinks Albemarle's profits in Q3
Charlotte, North Carolina-based Albemarle sunk into the red during the third quarter as it continues to build up its global lithium hydroxide capabilities, Kallanish reports.
The company as a whole lost $392.8 million on sales of $830.6m, down from a profit of $98.3m on sales of $746.9m in Q3 2020.
The bulk of that loss was due to an arbitration decision against the company as a result of an acquisition made in 2015.
Albemarle acquired Rockwood…
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Very good overview of the weekly steel market.
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