No Data
No Data
US stock market turmoil: lithium mining stocks fall as BMI, a research institution under Fitch, predicts that lithium prices will continue to be under pressure.
On June 27, Guolonghui: Albemarle (ALB.US) fell over 4% and Sociedad Quimica y Minera de Chile (SQM.US) fell over 3.3%. In terms of news, Fitch Solutions' research institution BMI under the Moodys Solutions predicts that lithium prices will continue to be under pressure in 2024-2025, lower than the high point of 2022-2023, due to the rapid expansion of global lithium supply, leading to oversupply in the lithium market. BMI stated that although the increase in demand for lithium chemicals used in electric vehicle batteries and energy storage systems is expected to support prices near current levels in the short term, large-scale and emerging
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.