Sociedad Quimica Y Minera SA (SQM) has released an update.
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Sociedad Química y Minera de Chile S.A. (SQM) reported a significant decline in revenues and earnings for the first nine months of 2024 compared to the previous year, with revenues dropping to $3.455 billion and a net loss of $524.5 million, down from a net income of $1.809 billion. Despite strong demand in lithium, iodine, and fertilizers, falling lithium prices and market oversupply have impacted financial performance. The company remains optimistic about long-term growth in the lithium market, driven by the clean energy transition.
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