Key Facts
SQM fell 2.00% to US$67.06 as investors recalculated future profit-sharing after the Chilean producer outlined a new partnership framework with state-owned Codelco in the Atacama salar.
Chile’s National Lithium Strategy is forcing a shift from concessions to public-private partnerships where the state holds a controlling stake, directly threatening the legacy cash-flow models of Albemarle and SQM.
The lithium-miners ETF LIT declined 0.85% to US$69.22 as hedge funds increased short positions, betting that new spodumene and brine projects will keep the market in oversupply longer than originally expected.
Albemarle edged down to US$117.64 as the company deferred capital expenditure on hard-rock expansion projects to protect its balance sheet until lithium chemical prices stabilise.
