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Oversupply dulls lithium prices and SQM profits

Oversupply has cut prices and profits for lithium producers with Chile’s Sociedad Química y Minera (SQM) reporting a 39.1% fall in profits for the six months to June 30 of US$150.7 million compared with $247.7 million for the prior year period as revenues fell to $998.4 million from $1,157.4 million. SQM sold 22,800 tonnes of lithium in the first half of 2019.

Oversupply dulls lithium prices and SQM profits Oversupply dulls lithium prices and SQM profits Oversupply dulls lithium prices and SQM profits Oversupply dulls lithium prices and SQM profits Oversupply dulls lithium prices and SQM profits

SQM's operations in the Atacama Salar in Chile

Its second quarter results saw net income fall to $70.2 million compared with $133.9 million for the second quarter 2018 as revenues fell to $494.1 million from $638.7 million.

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