Lithium King's Counterattack: Market Cap Increases by 3 Trillion Won in One Day

On the New York Stock Exchange, shares of Albemarle Corporation (ALB) soared 8.39% to close at $186.10, valuing the company at about $21.9 billion (approximately KRW 31 trillion). In a single session, its market capitalization jumped by around $2 billion (roughly KRW 3 trillion), with trading volume concentrated at about 1.48 million shares.

In February, the company announced it would idle the final production line at its Kemerton lithium-hydroxide plant in Western Australia—resulting in approximately 250 layoffs—and, in its fourth-quarter earnings report, highlighted $1.4 billion in revenue (around KRW 2 trillion) while emphasizing plans to improve cash flow through cost reductions and asset downsizing.

In March, Albemarle strengthened its energy-transition and financial-governance expertise by appointing First Solar CEO Mark Widmar and accounting and audit specialist Michelle Collins to its board.

Headquartered in Charlotte, North Carolina, Albemarle is a specialty-chemicals firm that produces lithium for electric-vehicle batteries, bromine-based products and catalysts. The company participates in major lithium mines worldwide, including Chile’s Salar de Atacama, Australia’s Greenbushes and Nevada’s Silver Peak.

As a core player in the global lithium supply chain, Albemarle’s performance and share price exhibit significant volatility, driven by lithium price cycles and shifts in electric-vehicle demand.