Chile’s SQM warns of coronavirus effect on lithium prices, sales
Published: Wednesday, 04 March 2020
Chilean lithium producer Sociedad Quimica y Minera de Chile (SQM) warned of the likely negative consequences of the coronavirus outbreak on lithium pricing and sales in China in the first quarter of 2020, while reporting falls in both revenue and profits in 2019 due to weak demand.
SQM generated total revenue of $1.94 billion for
January-December 2019, down by 14% from $2.26 billion in 2018,
it said in its full-year 2019 earnings conference call on
Tuesday March 3. Net profit was $278.1 million in 2019, down by
37% from $439.8 million in 2018.