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Benzinga
Benzinga
Business
Henry Khederian

While Albemarle's Stock Jump Captures The Spotlight, A Critical Chinese Supply Disruption Could Test The EV Battery Market

ALB Albemarle lithium electric vehicle CATL
Albemarle Stuttgart,,Germany,-,06-12-2022:,Person,Holding,Smartphone,With,Logo,Of

Albemarle Corp (NYSE:ALB), a leading global producer of lithium for electric vehicle batteries, shares are surging Monday afternoon following news that could significantly tighten the global lithium supply. Here’s what investors need to know.

What To Know: The rally was triggered after Chinese battery giant CATL announced a halt in operations at its lithium mine in Yichun, China. This specific mine is a major project, expected to contribute approximately 3% of the world’s total lithium output by 2025.

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