Shares of (NYSE: ALB) are flying high this week and were up 17.8% through 10:30 a.m. ET Friday, according to data provided by S&P Global Market Intelligence.

Albemarle already released its fourth-quarter numbers in mid-February. But given that it's a commodity stock, Albemarle's share prices are typically driven more by lithium prices than the company's operational numbers. Right now, nearly every major player in the industry expects the lithium market to recover, and that could hugely favor Albemarle stock going forward.

After plunging 80% in 2023, lithium carbonate prices are bottoming out and headed higher this week. So far this year, they're up 5%, according to data from Trading Economics.

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Source Fool.com