8th World Antimony Forum

TBD
Guiyang, Guizhou, China

12th Rare Earth Summit

TBD
Hangzhou, Zhejiang, China

11th Aluminum Raw Materials Summit

TBD
Hangzhou, Zhejiang, China

9th Magnesium Summit

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Hangzhou, Zhejiang, China

13th World InBiGeGa Forum

TBD
Hangzhou, Zhejiang, China

7th World Antimony Forum

June 13-14, 2019
Changsha, Hunan, China

7th Refractory & Abrasive Materials Summit 2019

May 23-24, 2019
Qingdao, Shandong, China

10th Aluminum Raw Materials Summit

May 16-17, 2019
Zhengzhou, Henan, China

11th Rare Earth Summit

May 9-10, 2019
Qingdao, Shandong, China

8th Magnesium Summit

April 11-12, 2019
Zhuhai, Guangdong, China

12th World InBiGeGa Forum

March 14-15, 2019
Zhuhai, Guangdong, China

SQM warns of further slide in prices in 2020

2020-03-05 08:49:27   【Print】
Chilean miner SQM, the world's No.Asian Metal Copyright" .Asian Metal Copyright 2 lithium producer, saw profits tumble in the last quarter of 2019 and warned that early 2020 sales in China, a key market for the battery metals used in electric vehicles, could be hit by impact of the coronavirus.

The lithium giant is the latest miner to report grim 2019 results as overproduction of the metal drives down prices and dents revenues.

SQM posted fourth-quarter net income of $66.9 million, a 38% drop compared to $108.Asian Metal Copyright 2 lithium producer, saw profits tumble in the last quarter of 2019 and warned that early 2020 sales in China, a key market for the battery metals used in electric vehicles, could be hit by impact of the coronavirus.Asian Metal Copyright6 million in the same period in 2018, according to its quarterly earnings statement.Asian Metal Copyright8 million.Asian Metal Copyright Gross profits slid more than 30% to $137.Asian Metal Copyright9 million, a 38% drop compared to $108.Asian Metal Copyright8 million.Asian Metal Copyright The lithium giant is the latest miner to report grim 2019 results as overproduction of the metal drives down prices and dents revenues.Asian Metal Copyright Quarterly lithium revenues plunged 57.Asian Metal Copyright It added that the oversupply driving the fall in prices could linger into 2020 and "further impact average prices this year when compared to 2019.Asian Metal Copyright4%, battered by continued low prices, the company said.

It added that the oversupply driving the fall in prices could linger into 2020 and "further impact average prices this year when compared to 2019."

SQM CEO Ricardo Ramos said overall lithium demand nonetheless grew 14% in 2019, in line with the company's expectations. He called the uptick "significant" but "lower than expected."

"We believe that the fundamentals behind demand growth in the lithium industry are stronger than ever," Ramos said. "During 2020, we believe the European electric vehicle market will gain momentum and contribute significantly to lithium demand growth," the company said in the statement.

In China, Ramos noted logistics had been dogged by the coronavirus but said there were signs things were getting back to normal. "Depending on the evolution of the coronavirus outbreak, we may be able to recover some of those sales volumes and reach 55-60k metric tonnes in 2020."

.Asian Metal Copyright It added that the oversupply driving the fall in prices could linger into 2020 and "further impact average prices this year when compared to 2019.Asian Metal Copyright