On June 25, Albemarle declined 5.28% in regular trading, trading at $140.92/share, with turnover of $109 million. The stock has now fallen sharply from its 52-week high of $221, as the ongoing Chile nationwide port strike directly threatens the company's lithium salt export operations.
The CUPCH national port workers' union launched an indefinite strike on June 18, now entering its 8th day, with all 23 major Chilean ports completely shut down. Antofagasta, the key lithium export terminal where Albemarle ships product from its Atacama salt lake operations, has recorded zero lithium salt loading since the strike began. Over a dozen vessels carrying lithium carbonate remain anchored offshore with no berthing schedule. Major shipping lines including Maersk and MSC have suspended new booking channels for lithium exports.
Critically, Albemarle and SQM's onsite lithium carbonate storage at Atacama has reached 80% utilization, with approximately 580 tons of new product accumulating daily. If the strike persists beyond two weeks, both companies face forced production curtailment. Market consensus assigns a 55% probability to the strike lasting 16-22 days, with full export normalization unlikely before late July.
Additionally, Baird on June 22 lowered its price target on Albemarle from $236 to $224, maintaining a Neutral rating, adding further pressure to sentiment.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)