Bromine Prices To Rise Along With Albermarle Earnings

Jefferies & Co. has published a research report for Albermarle Corporation ALB in anticipation of the raising Bromine prices. In the report, Jefferies writes "Reflecting a tight global market, Albemarle has announced a price increase for elemental bromine by $500/t, or roughly 15%, and for hydrobromic acid by $250/t. Elemental bromine represents roughly 10% of Albemarle's total bromine volumes, and is reported in Fine Chemicals. Hydrobromic acid is a small product line, mostly used in the manufacture of plastic drinking bottles. Elemental bromine prices are now set at part with Chinese prices, where historically Albemarle's prices have been above price posted in China." Jefferies maintains its Buy rating and $55 price target. Albemarle closed Friday at $47.26.