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    Matthew Hettwer • Vertical Research Partners, LLC

    Matthew Hettwer's questions to Albemarle Corp (ALB) leadership

    Matthew Hettwer's questions to Albemarle Corp (ALB) leadership • Q2 2025

    Question

    Matthew Hettwer of Vertical Research Partners inquired about the estimated global lithium operating rates in Q2 and why the company's full-year demand forecast remains so broad at 15% to 40%.

    Answer

    CEO Kent Masters estimated that Hard Rock conversion operating rates in China are low, around 50%, indicating significant overcapacity. He explained the demand forecast remains broad due to persistent uncertainties, including tariffs and regulations, with regional performance varying—weaker U.S. demand is being offset by stronger demand in China, Europe, and for stationary storage.

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    Matthew Hettwer's questions to Albemarle Corp (ALB) leadership • Q3 2024

    Question

    Matthew Hettwer, on for Kevin McCarthy, asked about learnings from peer benchmarking for the cost review and sought commentary on recent supply curtailments and why more production hasn't been shut down.

    Answer

    CEO Kent Masters said benchmarking was more about setting cost aspirations against broad industrial peers than learning new processes. CFO Neal Sheorey added that moving to a functional model and leveraging shared service hubs are key cost levers. Chief Commercial Officer Eric Norris confirmed some lepidolite curtailments but noted the slow overall supply response is due to a fragmented market with many new, single-asset companies that may continue operating as long as they have cash.

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