SQM reports a decline in lithium revenues while maintaining production guidance

Published: Nov 23, 2024 00:18

Source: SMM

Save

Sociedad Química y Minera de Chile (SQM) reported a significant drop in lithium revenues for Q3 2024, reflecting persistent pricing pressures in the global market.

Lithium revenues for the quarter declined 61% year-on-year to US$497.2 million, despite an 18% rise in sales volumes to 51,200 metric tons. Average realized lithium prices dropped by 67%, following an oversupplied market and price-index-linked contracts.

SQM reaffirmed its annual sales guidance of 190,000–195,000 tonnes, with 2024 production expected at 210,000 tonnes, supported by operations in Chile and China, but anticipates further price reductions in Q4 2024. SQM's Mt. Holland project in Australia is ramping up, targeting up to 130,000 tonnes of spodumene concentrate this year and 190,000 tonnes in 2025, while its Kwinana refinery expects its first lithium hydroxide production by mid-2025. While no further cost-related information was given during the call, SQM said the company remains confident in long-term lithium fundamentals and its competitive position.

Energy Storage EV New Energy new energy prices Lithium Prices Energy Storage Price Battery Industry Lithium Resources

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

14 hours ago

Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth

On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State

14 hours ago

Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run

On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.

14 hours ago

750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational

On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.

14 hours ago