Albemarle CEO: Expects Global Lithium Demand To Grow 15-40% This Year

May 1 (Reuters) - Albemarle Corp ALB.N:

• CEO KENT MASTERS: EXPECTS GLOBAL LITHIUM DEMAND TO GROW 15-40% IN 2025

• CEO: EXPECTS GLOBAL LITHIUM DEMAND TO DOUBLE FROM 2024 TO 2030

• CEO: 'INCENTIVIZING SUPPLY GROWTH REQUIRES LONG-TERM LITHIUM PRICING WELL ABOVE CURRENT SPOT PRICES'

• : NO SIGNIFICANT LONG-TERM LITHIUM SUPPLY AGREEMENTS UP FOR RENEWAL IN 2025

• CEO: 'OUR LONG-TERM BUSINESS DRIVERS ARE ROBUST'

• CEO: CHINA'S EV MARKET NOW 60% OF GLOBAL LITHIUM DEMAND

• CEO: COMPANY'S 2025 FORECAST DOES NOT FACTOR IN GLOBAL RECESSION

• CEO: EXPECTS GLOBAL EV PRODUCTION TO OVERTAKE GLOBAL INTERNAL COMBUSTION ENGINE PRODUCTION BY END OF DECADE

• CEO: 40% GLOBAL LITHIUM CAPACITY IS AT OR BELOW BREAK-EVEN

• CEO: 'OUR (LITHIUM) CONTRACTS ARE HOLDING, BUT THAT DOESN'T MEAN WE DON'T RENEGOTIATE THEM OVER TIME'

• : 'MOST-LIKELY' GLOBAL LITHIUM DEMAND GROWTH SCENARIO FOR YEAR IS 20%

• CEO: GRID STORAGE NOW 20% OF LITHIUM DEMAND

• CEO: LITHIUM DEMAND FOR GRID STORAGE GREW FASTER IN 2024 THAN DEMAND FROM EV MARKET

• CEO: NEW DERIVATIVE CONTRACTS FOR LITHIUM 'WON'T HAVE A MUCH OF AN IMPACT INITIALLY,' BUT 'ANTICIPATE THEY WILL, OVER TIME'

Source text: [ID:]

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