SQM Squeezes Lithium Market, Chinese Buyers Lose Out — Panjiva


SQM Squeezes Lithium Market, Chinese Buyers Lose Out

Chile 51 China 1758 Materials - Metals/Mining 482 U.S. 3297

SQM plans to withhold 17% of its annual Chilean lithium carbonate production this year in response to expanding global supply and to “have more strategic inventory” according to CEO Ricardo Ramos. Chilean exports of the electric vehicle battery material have already been in decline as shown by a 2.4% year over year drop in 4Q 2018. The reduction came at the same time as a 15.7% increase in average export prices per ton, resulting in a record high of $13,087 per ton in November. SQM’s exports to China slumped 97.2% in 4Q, which is notable given Chinese buyer Tianqi Lithium acq...

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