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Fitch's research institutions have revised their gold price forecast to $2,250, singing short on lithium prices.
On Thursday, BMI, a research institution under Fitch Ratings, raised its 2024 gold price forecast and predicted that lithium prices would remain low.
Investors in Sociedad Química Y Minera De Chile (NYSE:SQM) Have Seen Notable Returns of 70% Over the Past Five Years
Gold Prices Revised up at BMI, Lithium Expected to Remain Subdued Due to Oversupply
US Stock | Amazon joins the "Trillion-Dollar Market Cap Club"; Rivian soars more than 23% overnight.
Microsoft hit a new all-time high overnight, with a cumulative increase of over 20% since the beginning of the year; Fedex rose more than 15% overnight, exceeding expectations for the 2025 fiscal year guidance and receiving a bullish rating from Goldman Sachs.
Chilean lithium mining company SQM plans to select direct lithium extraction technology next year.
On June 27th, Guolonghui reported that a senior executive of SQM, the world's second largest lithium producer, said that the company plans to choose one or more Direct Lithium Extraction (DLE) technologies to quickly expand production at the Atacama salt flat before next year. Fastmarket data shows that in 2023, the lithium production of Atacama salt flat will rank first in the world, accounting for 44% of the world's total lithium supply. Chile is the world's second largest lithium producing country after Australia, thanks to the production of SQM and its competitor Albemarle, which is planning to use DLE technology in Chile.
Shares of Lithium Stocks Are Trading Higher Amid Possible Sympathy With Albemarle After the Company Announced It Plans More Lithium Auctions to Boost Market Transparency.
Shares of Lithium Stocks Are Trading Higher Amid Possible Sympathy With Albemarle After the Company Announced It Plans More Lithium Auctions to Boost Market Transparency.