https://www.miningweekly.com

SQM expects strong lithium demand despite price pressures

19th August 2022

By: Reuters

  

Font size: - +

MEXICO CITY - Chilean miner SQM saw demand for lithium soar in the last quarter and expects the trend to continue despite price pressures, its executives said during an earnings call on Thursday.

The company forecasts global lithium demand will grow 35% through 2022, according to a presentation shared during the call to discuss its second-quarter results.

SQM expects its own lithium sales volumes to reach at least 145 000 t by the end of the year, it added.

While the price of the mineral could face pressure from ongoing supply delays, demand should nonetheless remain strong in the upcoming quarters, a top executive for the company said, adding that it makes sense to renegotiate contracts with clients according to market temperament.

The miner posted earlier this week a net profit of $859.3-million in the second quarter, a near 10-fold increase from the $89.8-million it posted a year earlier. 

The miner raked in $1.85-billion in lithium sales in the second quarter, versus $163-million a year before.

Shares in SQM were down more than 6% during the morning, with the results slightly below market forecasts.

Edited by Reuters

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION