The lithium industry has been facing a tough market, with the twin forces of oversupply and weakening demand pressuring lithium prices to drop significantly. In China, battery-grade lithium carbonate prices plunged over 78% in the course of one year, reflecting the impact of oversupplied markets in Asia and a slowdown in the global adoption of electric vehicles (EV). This price drop in the underlying commodity has also put pressure on lithium producers like Albemarle Corporation (ALB), pushing them to rethink their strategies and look for new growth opportunities. Amid this challenging fundame…