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BATON ROUGE, La. (AP) – Specialty chemicals maker Albemarle Corp. said Monday that it will increase prices for elemental bromine and all grades of hydrobromic acid effective April 1, or as contracts allow.
The company said markets that use these products have shown renewed strength. Also, there are new applications that are beginning to consume large quantities of bromine and bromine derivatives.
The price increases will help justify investments to meet increasing demand, the company said.
Bromine prices will go up $500 per metric ton; hydrobromic acid prices will climb by $250 per metric ton. It is used in fire retardants and agricultural compounds.
Albemarle shares rose $1.95, or 5.2 percent, to $39.44 in trading Monday. The shares hit a 52-week high of $39.46. Albemarle shares have been as low as $15.54 over the past year.
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