Albemarle reported that its Q4 2022 lithium net sales increased $1.7 billion (+410%) to $2.1 billion due to higher pricing net of FX (+328%) related to renegotiated contracts and increased market pricing. Volume was also higher (+82%) related primarily to the La Negra III/IV expansion in Chile and higher tolling.
Lithium chemical and spodumene prices were slightly lower the past month as cathode makers held of purchases due to a feared Q1, 2023 China EV sales slowdown as subsidies expire.