Surging Lithium Demand Outstrips Forecast of Major Producer 

Global demand for lithium is accelerating at a faster clip than previously thought, according to the world’s second-largest producer of the rechargeable battery ingredient.

With electric-vehicle demand surging more than 150% in the first half from a year ago, price growth is exceeding SQM’s expectations, the Santiago-based firm said Thursday. 

The improving outlook -- as the transition to clean energy and transport gains momentum -- has SQM forecasting that global demand for lithium could increase more than 40% this year, translating into sales volume of more than 95,000 metric tons. That’s up from its 85,000-ton-plus prediction three months ago. A tightening global market should help SQM’s average prices increase further in the second half. 

Surging Lithium Demand Outstrips Forecast of Major Producer 

“We now believe that total global demand could surpass 1 million tons in 2025,” said the company formally known as Soc. Quimica & Minera de Chile SA.

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