Chile lithium rebound offers relief to miners hit by China angst

12th September 2023 By: Bloomberg

A rebound in lithium exports from the No. 2 supplier Chile offers some relief for the nation’s two producers, SQM and Albemarle, which have been hit by slumping prices.

Revenue from Chilean lithium shipments jumped 18% in August versus July, according to data released Thursday by the central bank.

That’s despite an acceleration in global price declines as economic weakness in China undermines sentiment for electric-vehicle demand.

While Chile’s exports in August are still a far cry from levels seen last year when the market tightened, they may help alleviate some investor concern and explain why SQM and Albermarle remain upbeat on demand projections.