Lithium Stocks Fall on SQM Supply Announcement, but Our Long-Term Outlook Is Unchanged
On May 24, SQM announced an additional 80,000 metric ton capacity expansion, driving shares of Albemarle, SQM, and FMC down 7%, 6%, and 3%, respectively. Although the capacity expansion will occur faster than we had previously expected, we had already forecast that SQM would bring extra supply on line. We've updated our lithium carbonate price forecast (on a Chilean export basis) to reflect SQM's new capacity expansion timeline. Our short-term price forecast increases to $11,500 per metric ton f...
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