SQM Sees Lithium Demand Growing 10 Percent in 2014

Sociedad Quimica y Minera de Chile (ADR) (SQM) (NYSE:SQM) released its financial results for the three months and nine months ended September 30 2014. The company reported increased revenues from its lithium operations – up by 4.1 percent and 10.2 percent year-on-year for the first nine months and 3 months of the year respectively. However, the company also commented on what it sees as continued strong demand for lithium.

As quoted in the press release:

Lithium demand continues to be strong, and we estimate that demand growth for 2014 will be approximately 10% with respect to 2013. The biggest demand driver continues to be uses related to lithium batteries, and we are also seeing growth in applications for glass and lubricating greases. Prices for the third quarter were similar to prices for the first half of this year. We expect to see some new supply entering the market next year from other producers, but we believe the increased supply will be lower than we previously anticipated.

Click here to read the SQM (NYSE:SQM) press release