- Write by:
-
Thursday, August 17, 2023 - 22:29:42
-
94 Visit
-
Print
Mining News Pro - The CEO of Chilean lithium miner SQM expects prices for the key battery metal to hold steady in the third quarter from the previous one, he said on Thursday, while predicting demand would keep growing.
SQM, the world’s second-largest lithium producer, reported a larger than expected drop in second-quarter earnings on Wednesday, dragged down by lower average selling prices for lithium even as it shifted larger volumes.
“Since mid-June we have seen some negative trends in the Chinese index, followed by other indexes later on,” CEO Ricardo Ramos said in an earnings call, adding that its selling prices have various lags to spot prices depending on its contracts.
“All in all, I hope that we can have a relatively similar price in the third quarter compared to the second,” he said.
Lithium prices have sky-rocketed over recent years amid soaring demand from the electronics sector and carmakers, as more stringent environmental regulations drive a shift towards battery-powered vehicles.
Lithium miners, largely operating in Australia, Chile, China, have rushed to ramp up output, but prices have fallen back from their records amid slowing demand from China.
SQM posted a near 37% year-on-year drop in the average price it received for its lithium in the April to June period and a 33% fall from the first quarter, even as its sales volumes soared.
Higher sales volumes are forecast to continue into the second half of the year.
Short Link:
https://www.miningnews.ir/En/News/627246
Marex Group Plc and a group of the London-based firm’s shareholders raised about $292 million in a US initial public ...
China’s Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company ...
India is in talks with several countries seeking partnerships for technical help on lithium processing, said four ...
Chile’s state copper company Codelco defended its proposed lithium production tie-up with SQM in response to criticism ...
Nigeria has revoked 924 dormant mining titles immediately and invites investors to freely apply for the affected ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Chile’s state-run miner Codelco plans to select a partner for a future lithium project in one of the country’s top salt ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
Lithium supplier Vulcan Energy on Wednesday announced the start of production of the first lithium chloride at its ...
No comments have been posted yet ...