🔋🇺🇸⛏️ Albemarle Halts U.S. Lithium Refinery Plans Amid Price Slump, Seeks Government Backing 🔹 Summary: Albemarle has kept its $1.3 billion South Carolina lithium refinery project on hold, citing a global glut and plummeting lithium prices that undermine its economic viability. CEO Kent Masters warned that without government support, private companies alone may struggle to build a Western minerals supply chain critical for energy security. 🔹 Key Points: • Lithium prices have plunged 74% over two years, derailing Albemarle’s plans to expand U.S. refining capacity. • The South Carolina project, once expected to be the largest U.S. lithium refinery, remains paused with no set timeline for resumption. • Albemarle continues to focus on Chile’s Salar de Atacama but passed on bidding for other local lithium deposits. • The company is exploring direct lithium extraction in the U.S. and Chile but has not announced concrete timelines. • Albemarle may resume lithium auctions soon to boost market transparency and optimize pricing. @CMEActiveTrader Tickers Of Interest: $LTH $ALB $ES $CL Tickers Of Interest: $USD $CNY $RIO $LAC