What is SQM's forecast for global lithium demand in 2026, and what key factor is driving this growth?

SQM forecasts that global lithium demand will exceed 1.9 million metric tons of lithium carbonate equivalent (LCE) in 2026, driven primarily by the expansion of battery energy storage systems. CEO Ricardo Ramos stated this during SQM's first-quarter earnings call on May 27, emphasizing that growing energy storage applications — alongside supply curtailments in China — have tightened global lithium supplies and contributed to rising prices.

How has SQM revised its lithium sales volume guidance for 2024, and what does it expect for realized lithium prices in Q2?

SQM revised its full-year lithium sales volume guidance upward to a 15% year-over-year increase, up from an initial estimate of 10%. Additionally, CEO Ricardo Ramos indicated during the May 27 earnings call that, given current market conditions, the company expects average realized lithium prices in the second quarter to be higher than those reported in the first quarter.

Global Lithium Demand to Exceed 1.9 Million MT in 2026 – SQM

May 29, 2026

SQM forecasts global lithium demand to surpass 1.9 million metric tons by 2026 amid tight supply and rising prices. The company reported a 165% surge in Q1 net income as lithium carbonate equivalent sales volumes increased 15% year-over-year.

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Global Lithium Demand to Exceed 1.9 Million MT in 2026 – SQM

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