Albemarle isn't letting go in the second quarter after a flying start to the year for the mining stock. ALB stock topped a buy point on Thursday and lithium stocks rallied broadly.

China's Ganfeng Lithium, one of the world's largest lithium producers, on Thursday reported a strong profit jump for the first quarter on demand for electric vehicles and energy storage systems.

Albermarle, the U.S. heavyweight, gave positive outlook in February, citing improving market conditions.

Lithium Prices, Lithium Market Turn Bullish

The lithium cycle took a bullish turn in 2025 and continues to gain momentum in 2026. That follows a steep multiyear decline for lithium prices.

As of mid April, Chinese lithium carbonate prices have jumped roughly 40% since the start of the year, according to Trading Economics.

Demand for electric vehicle (EV) batteries uses approximately 75% of the global lithium supply. And while EV sales in many places are lagging, demand from China's EV makers is growing, with BYD guiding exports higher. Data centers are rapidly adopting lithium batteries for higher efficiency as well.

Albemarle supplies both Tesla and BYD.

Geopolitics also favor the white metal. The oil price shock from the Iran war could revive the global shift to electric cars. And a Zimbabwe lithium export ban in early 2026 could affect 2.7% of global supply, according to S&P Global Market Intelligence.

Analysts have sharply raised earnings estimates and price targets for Albemarle stock since late 2025, FactSet shows.

Lithium Mining Stocks Soar, Albemarle Breaks Out

Shares shot up 16.4% to 215.69 on the stock market today. Albemarle stock topped a 206 buy point from a cup base intraday, according to MarketSurge charts.

The relative strength line made a new high as ALB stock broke out, marked by a blue dot on the chart.

Lithium mining stocks rallied broadly on Thursday. Sociedad Quimica y Minera de Chile popped 8.9%, climbing out of range from a breakout on Monday. Sigma Lithium soared 13.6% to 20.70, hitting the profit-taking zone after also breaking out on Monday.

In January, Deutsche Bank analysts shared a "more optimistic and bullish stance" on the lithium sector while noting an "influx of investor interest" returning to the space.

For 2026, Wall Street now expects Albemarle earnings of $8.44 a share vs. a 79-cent loss in 2025. They see revenue surging 14% for the full year after two years of declines.

Albemarle is set to report first-quarter earnings on May 7.

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