Chilean lithium producer SQM announced that its Q4 net profit increased due to favorable market conditions which raised the average price of lithium and thus boosted performance. The world's second-largest lithium miner stated that its Q4 net profit was $183.8 million up 53% YoY. Revenue for the quarter grew by 23.3% reaching $1.32 billion compared to $1.07 billion in the same period last year. Gross profit for the quarter rose 52.7% to $448.5 million. SQM CEO Ramos said, "Our Q4 2025 results reflect record sales from our two major lithium businesses (Nova Andino Litio and the International Lithium Division)." "In November 2025, we began to see early signs of an improving supply-demand balance primarily driven by stronger-than-expected ESS demand."

According to a report by Mining Weekly, citing Reuters, Zimbabwe's Minister of Mines Winston Chitando announced on Tuesday that, to expand domestic processing, the country will ban the export of lithium concentrates starting from 2027. In 2022, Zimbabwe, Africa's largest lithium producer, ordered a ban on the export of lithium ore and has since been urging miners to process ore domestically. Lithium mining companies in Zimbabwe have been exporting lithium concentrates. Currently, two lithium mines in Zimbabwe are constructing lithium sulfate plants, namely Bikita Minerals and Prospect Lithium. Lithium sulfate is an intermediate product that can be further smelted into high-grade materials, such as lithium hydroxide or lithium carbonate, which are used in battery manufacturing. During a media briefing, Chitando stated, "The country now has the capacity to process, so all exports of lithium concentrates will be banned from January 2027." In 2023, Zimbabwe granted lithium miners a grace period to submit plans for local smelter construction by March 2024, but its stance softened due to the decline in lithium prices.

The relentless lithium price bubble, the star of the electric vehicle (EV) and energy storage revolution, has come hand in hand with price volatility on a record scale. Nicknamed "white gold," lithium prices have recorded breathtaking highs and lows, and industry players everywhere are at their wit's end trying to keep up with uncertainty.

[Nickel and Lithium Prices Slump Continues to Worsen Australian Miners' Financial Reports, Signs of Industry Consolidation Emerge] ① Three Australian lithium miners reported their largest H1 losses in over six years and did not declare dividends; ② Lithium prices have plunged more than 80% since 2022, while nickel prices have halved since early 2023. Miners are entering an era of capital discipline, potentially triggering a wave of industry consolidation through acquisitions. (Cailian Press)

2024 is a highly volatile year for lithium carbonate prices, with prices experiencing a "roller coaster" ride and an average price of 90,000 yuan/mt. Annual domestic lithium carbonate output reached 680,000 mt, up 47% YoY; annual lithium carbonate imports totaled 230,000 mt, up 46% YoY; and annual lithium carbonate demand reached 850,000 mt LCE, up 44% YoY. The domestic surplus pattern persisted. Looking ahead, with both lithium carbonate supply and demand increasing, supply growth is expected to outpace demand, leading to a continued expansion of the surplus. Additionally, under the deepening of low-cost integration and the impact of low-cost lithium carbonate imports from overseas, the cost center of lithium carbonate still has room to decline.

2024 was a highly volatile year for lithium carbonate prices.