What were SQM's second-quarter net income and revenue, and what was the primary driver of this growth?

SQM reported second-quarter net income of $660.0 million, up 646.4% year over year, on revenue of $2.47 billion, up 136.7% year over year. The primary driver of this growth was strong demand for lithium, which led to a 300% year-over-year increase in lithium and derivatives segment sales to $1.78 billion, supported by robust demand from the energy-storage systems (BESS) market and solid performance in iodine, specialty plant nutrition, and other segments.

How does SQM explain the lithium sales volume and pricing dynamics in Q2, and what is its outlook for global lithium demand?

SQM stated that lithium sales volumes in Q2 rose 59% year over year to 84,100 metric tons, driven by strong demand from the fast-growing energy-storage systems (BESS) market, which offset slower-than-expected growth in the battery electric vehicle (BEV) market; it also noted that lithium prices increased during the quarter due to stronger-than-expected market demand, and it now expects global lithium demand to exceed 2.1 million metric tons in 2026.

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