Friday , August 19 2022

SQM is leading the market thanks to Albemarle and lithium forecasts



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SQM is a star of the day and its shares are strong at the Santiago Stock Exchange thanks to the Albemarle America results and lithium prospects.

So far in operations, the SQM series closed a series B 2.40% and reached $ 28,335, while the series. In turn, the non-metallic mineral company was on top of the largest inventory list traded in the session with $ 21,649,745, which accounts for 24% of total operations in the local park.

The developments are recorded while IPSA, the main indicator of the local stock exchange, operates with a 0.15% reduction and 5,402 points stand.

Increases in the SQM share after Albemarle, the world's biggest lithium producer, surprised the market with fourth quarter earnings of US $ 129.6 million, compared to a $ 218.4 million loss in the same period 2017.

"Our growth will be driven by more volume in our raw lithium business," said the company.

In addition, the report states that the lithium market is adapted in the long term, as demand increases by 21% per annum. With this, Albemarle predicts a demand for lithium carbonate equivalent to 475,000 tonnes in 2021, while forecasts for 2025 have been located at 1 million tonnes.

In terms of production in Chile, the company is estimated to reach 40,000 tonnes this year.

In this favorable scenario the report of the Australian Orocobre, which said last Monday, that the heavy rainfall of high plateau will not allow production in Salar de Olaroz, in Argentina until June, probably not more than 12,470 tonnes of lithium carbonate produced the previous year.

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