Financial PerformanceSQM reported another weaker than expected result in the 3Q24, with EBITDA of US$339mn, 16% below our estimate and 12% below Visible Alpha consensus, and down 57%YoY.
Market SentimentGlobal lithium remains mixed, with prices expected to decline and order backlogs stalling, affecting the overall sentiment in the lithium market.
Pricing ChallengesLithium prices of US$9.7k/ton were below the expected US$11k/ton, and SQM is guiding for lower prices in Q4.