Reported about 2 months ago
Chile's SQM, the second-largest lithium producer globally, saw a significant 63.2% decline in its quarterly profits, attributing this to ongoing weakness in lithium prices. With a second-quarter net profit of $213.6 million, the company's results have been negatively impacted despite record sales volumes of lithium, as prices have plummeted about 70% over the past year due to lower-than-expected global demand for electric vehicles. The CEO anticipates this pricing trend will persist into the latter half of the year.
Source: YAHOO