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 acquired a mino...