Lithium Giant SQM Sees Prices Staying Higher for Longer
- Chilean firm says third-quarter revenue more than quadrupled
- Top market China is facing some short-term headwinds
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The world’s No. 2 lithium producer, SQM, said it expects prices for the battery material to stay high into 2023, remarks that may allay fears over a possible cooling-off of China’s two-year buying frenzy.
After reporting that sales more than quadrupled in the third quarter from a year ago on the back of surging lithium prices, the Santiago-based company signaled continued optimism. Global lithium demand will expand 40% this year, it said in the results statement.