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To: Johnny Canuck who wrote (57545)	11/20/2023 3:32:05 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69207

Yahoo Bloomberg SQM Sees Lithium Glut Pushing Down Prices Through Year End James Attwood Thu, November 16, 2023 at 8:30 AM PST·2 min read (Bloomberg) -- The world’s second-largest lithium producer is warning investors of further price declines as a glut of the metal continues to work its way through the battery supply chain. Most Read from Bloomberg Aston Martin Owner Lawrence Stroll Sells F1 Team Stake at £1 Billion Valuation Hamas Mastermind Who Tricked Israel Is Top Target in Gaza Tunnels Apple Plans to Make It Easier to Text Between iPhones and Androids ‘Fed-Friendly’ Data Lift Bonds as S&P 500 Wavers: Markets Wrap Apple’s Effort to Replace Qualcomm Chip in iPhone Falls Further Behind ADVERTISEMENT Reporting a bigger-than-expected drop in third-quarter earnings, Chilean miner SQM blamed this year’s price pullback on an excess of inventory, particularly in Asia, as well as new supply coming on stream. Those pressures “could continue to have a negative impact on lithium prices in the short term,” said Chief Executive Officer Ricardo Ramos. Shares fell as much as 8.7% in New York. To be sure, SQM maintained its forecast for global demand to grow by around 20% this year and also stuck with its upbeat projection for electric-vehicle sales in the energy transition. Still, the firm — which is closely watched because it’s more exposed to spot prices than peers — warned the downward price trend could continue for the rest of the year, with fourth quarter volumes set to be similar or lower than the previous period. SQM has “seen some softening of demand outside China,” Felipe Smith, senior commercial vice president, said on a call Thursday. ADVERTISEMENT Lithium prices have tumbled in the past year after new supply came on stream in Australia and buyers ran down inventories as some EV makers rethink their growth plans. Albemarle Corp., the biggest lithium producer, said earlier this month that it was “a bit perplexed” as to why prices had fallen so far given EV demand remains healthy. Recommended Stories Bloomberg Musk Defends Himself on X After Antisemitic Furor Deepens 58m ago CNN Ad [Exclusive] Witness Describes Assault of Women on Oct. 7 Yahoo Finance Nvidia results, more retail earnings: What to know this week 15h ago Yahoo Finance Why Warren Buffett's portfolio moves signal 'caution' for investors 16h ago Bloomberg OpenAI’s Murati Aims to Re-Hire Altman, Brockman After Exits 4h ago Seeking.com Ad The Unexpected Reason That Age-Gap Relationships Are So... Bloomberg Bill Ackman Defends Elon Musk After Backlash Over Antisemitism 2d ago Fortune Sam Altman returned to OpenAI HQ and could be reinstated as CEO soon. Elon Musk says ‘the public should be informed’ why he was fired in the first place 11h ago Fortune In the battle to bring ousted founder Sam Altman back to OpenAI, Microsoft and Satya Nadella hold the trump cards 18h ago Pacific Blue Cross Ad Personal Health Insurance Investor's Business Daily Dow Jones Futures: Nvidia Earnings, OpenAI Key For These 6 AI Stocks 5h ago TipRanks These 2 ETFs are Good Enough for Warren Buffett 1d ago TechCrunch Sam Altman won't return as OpenAI's CEO after all 2h ago 5D Wallpaper Ad Michael Douglas' Expensive Divorce Makes History Bloomberg Sam Altman’s Friends and Foes: Who’s Who in OpenAI Drama 15h ago Investor's Business Daily These Are The 5 Best Stocks To Buy And Watch Now 6h ago SmartAsset Can I Avoid Probate on My Bank Accounts? 16h ago LeafFilter Partner Ad Here's What Gutter Guards Should Cost You In 2023 Reuters Altman will not return as CEO of OpenAI - The Information 12h ago Barrons.com Short-Seller Jim Chanos to Shut Hedge Funds, Report Says 2d ago SmartAsset $4 Million Bucks Will Buy You This Type of Retirement If You Stop Working at 55 2d ago Sponsored by Fidelity Ad Common mistakes Canadians can make with their TFSA SmartAsset Ask an Advisor: We're 65, Have $1 Million Saved and $42K in Social Security Benefits. Can We Live on $90K Per Year? 16h ago The Wall Street Journal How Starbucks Lost the Top Spot in China’s Coffee Race 1d ago Investor's Business Daily The Magnificent Seven Are Looking Magnificent In November 20h ago House Coast Ad These Cars Will Last 250,000 Miles - Is Yours On This List? Reuters Japanese stocks party like it's 1990 3h ago