SQM reported record quarterly lithium sales volume in the second quarter of 2026 as sharply higher realized pricing and strong energy-storage demand drove a major acceleration in its lithium business.
Total lithium sales exceeded 84,100 metric tons of lithium carbonate equivalent, up 59% from 53,100 metric tons in the prior-year period.
Approximately 75,800 metric tons came from SQM’s operations in Chile through Novandino, while another 8,300 metric tons came from its Australian operations.
The volume increase coincided with a dramatic rebound in pricing.
Novandino’s average realized lithium sales price reached approximately $21.80 per kilogram during the quarter, nearly 23% higher than the first quarter and close to 160% above the prior-year period.
SQM said strong demand from battery energy-storage systems helped support volumes and offset slower-than-expected growth in the battery-electric-vehicle market.
The combination of higher volumes and pricing drove second-quarter Lithium and Derivatives revenue to $1.78 billion, nearly four times the $445.2 million generated a year earlier.
Novandino alone generated $1.65 billion of quarterly lithium revenue, up 278%.
Australian operations are also becoming increasingly important. Mt. Holland operated at full capacity during the quarter, while the average realized spodumene price reached approximately $2,048 per metric ton, up more than 40% sequentially and more than 160% year-over-year.
SQM and partner Wesfarmers recently announced an expansion that is expected to double SQM’s attributable spodumene concentrate production capacity to approximately 350,000 metric tons annually. SQM’s share of investment is expected to total approximately $450 million to $500 million between 2026 and 2029.
Companywide second-quarter net income reached $660 million, up 646% from $88.4 million a year earlier, while gross profit increased nearly fivefold to $1.26 billion.
KEY QUOTES:
“In lithium, we achieved record quarterly sales volumes of over 84 thousand metric tons of Lithium Carbonate Equivalent from our lithium operations in Chile through Nova Andino Litio and in Australia through Covalent Lithium.”
Ricardo Ramos, CEO of SQM
