Battery Raw Materials
Albemarle Enters a Contract with Metalshub for Digital Sales Solution
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Düsseldorf/Charlotte, 10 May 2024 – Leading lithium producer Albemarle has teamed up with Metalshub to sell some of its metal in auctions to improve market transparency.
Together with London Metal Exchange partner Metalshub, Albemarle plans to hold multiple auctions for lithium supplies, allowing potential customers to state what they consider the appropriate price through private bids.
The first bidding event for 10K tons of chemical-grade spodumene was held on March 26, 2024 and for 100 tons of battery-grade carbonate on April 2, 2024.
Lithium has been sold on long-term contracts by Albemarle (ALB) and other producers, making it difficult for automakers and customers to determine a benchmark price. Still, the company’s move could eventually prove significant in opening the market to commodity traders. The company said the auction approach “can lead to fair product valuation—for both buyers and sellers—and drive towards a more robust, sustainable market.”
“We are proud to support Albemarle in pioneering a more transparent and efficient lithium market. By digitising the sales process and enabling price discovery through secure, private auctions, we are helping establish a new standard for commercial transactions in critical raw materials.”
The contract between Metalshub and Albemarle marks a significant milestone in the lithium industry’s journey toward digital transformation and compliant practices. Both companies are excited about the potential for innovation and the positive impact this partnership will have on their operations and the industry.
About Albemarle
Albemarle Corporation is an American speciality chemicals manufacturing company based in Charlotte, North Carolina. It operates three divisions: lithium (68.4% of 2022 revenues), bromine specialities (19.3% of 2022 revenues) and catalysts (12.3% of 2022 revenues).
Albemarle is a large developer of flame-retardant chemical technologies, with production plants in the United States, China, the Netherlands, Belgium, Germany, France, Austria, and the United Kingdom. It also has a line of antioxidants and blends which concentrate on improving the storage life and stability of fuel and other lubricant products. It produces products used in rigid and flexible polyurethane foam applications and ammonium polyphosphate products, pigments for paper applications, aluminium oxides used for flame-retardant, polishing, catalyst, and niche ceramic applications, as well as magnesium hydroxide, mainly used as a flame-retardant.
It is one of the largest producers of hydroprocessing catalysts (HPC) and fluid catalytic cracking (FCC) catalysts used in the petroleum refining industry. Production locations (excluding joint ventures in Brazil and Japan) are Bayport, Texas and Amsterdam, Netherlands.
Albemarle also produces fine chemicals and chemical services for the pharmaceutical and life sciences industries. The Alternative Fuel Technologies division participates in the market for biofuels, gas-to-liquids, and coal liquefaction.
About Metlashub
Metalshub is a leading software provider for the metals & mining industry, unlocking supply chain value. By leveraging advanced technology and market expertise, Metalshub provides software solutions for buyers and sellers to connect, negotiate, and close transactions. With its innovative solutions, Metalshub empowers businesses to optimise supply chains, make informed decisions, and drive growth in the digital era.
Contact
Dr Frank Jackel, Co-Founder and Managing Director, frank.jackel@metals-hub.com
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