Lithium Fund Falls 2.32% as Albemarle Drops 2.75% | Lithium, Oct 16
Key Facts
- The LIT lithium fund fell 2.32% to US$64.05 on Friday 16 October, the largest fall among the lithium names on our board.
- Albemarle, the largest US lithium producer, fell 2.75% to US$95.48, while Chile’s SQM fell 0.45% to US$60.20.
- Chile’s ECH fund fell 0.59% to US$37.08, while Chile’s IPSA closed flat at −0.01%.
- The Nasdaq fell 2.14%, so battery-linked shares fell with technology.
Today’s Focus
Lithium shares fell on Friday 16 October, with the LIT fund down 2.32% to US$64.05. The fund holds lithium miners and battery makers.
Albemarle lost 2.75% to US$95.48, while SQM, Chile’s lithium producer, fell only 0.45% to US$60.20. We found no lithium-specific news that explains the fall.
Wall Street’s technology selloff, with the Nasdaq down 2.14%, is the likeliest backdrop. We could not confirm lithium carbonate prices for the day.
What matters today. For US investors lithium shares trade as growth stocks, so they fall with technology even when the metal’s price is steady.
01 The session in one read
The LIT fund closed at US$64.05, down 2.32% from US$65.57. Albemarle closed at US$95.48, down 2.75%.
SQM closed at US$60.20, down 0.45%. Chile’s IPSA, where SQM is a major stock, was flat.
The Nasdaq fell 2.14% and the S&P 500 1.09%. Lithium shares often follow the technology sector in weak sessions.
The fall in lithium shares matched the technology selloff. No lithium price or policy news explained it.
We could not confirm lithium carbonate prices, so this reading is a market-based inference.
02 The board
| Instrument | Level | Change |
|---|---|---|
| LIT lithium fund (US$) | 64.05 | -2.32% |
| Albemarle (US$) | 95.48 | -2.75% |
| SQM ADR (US$) | 60.20 | -0.45% |
| ECH Chile fund (US$) | 37.08 | -0.59% |
The table shows the fund and shares in US dollars. SQM fell least of the group.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 205,430.33 | +0.54% | +21.85% | 204,324.26 | 168,310 | 167,142 | — |
| IPSA | 10,969.16 | -0.02% | — | 10,971.88 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 68,420.16 | +1.12% | +12.17% | 67,663.29 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,848,945 | -0.35% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,566.28 | -0.55% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 60,210.69 | -0.91% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
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03 What moved it
TheStreet reported that worries about the costs of artificial intelligence pushed the Nasdaq down 2.14%. Lithium producers trade with growth stocks because their prices depend on electric-vehicle demand.
We found no lithium carbonate price report for Friday. Without one, we do not claim that the metal moved.
04 The Latin American read
Chile, Argentina and Bolivia hold much of the world’s lithium, but only Chile and Argentina produce at scale. SQM is the main listed Chilean producer.
SQM’s smaller fall of 0.45% shows how local producers can hold up better than US peers in a weak session. The Chilean peso weakened 0.28% to 983.97 per dollar.
05 The names to watch
Albemarle is the largest US producer and the stock most exposed to the fund’s moves. SQM is the cleanest Chilean option.
The LIT fund gives broad exposure to miners and battery makers. Its 2.32% fall was the largest on our board.
06 The outlook
Lithium shares are likely to follow technology stocks in the next session. A rebound on Wall Street would help the fund recover.
A lithium carbonate price report would tell whether the metal itself moved. We will report it once sources confirm.
07 What to watch
- Wall Street: The Nasdaq’s direction sets the tone for lithium shares.
- Lithium prices: A confirmed carbonate price would show whether producers are in trouble.
- SQM: Watch whether it keeps outperforming Albemarle.
- Chile: The central bank’s October decision affects the peso and local sentiment.
Background: Lithium Fund Falls 1.22% as Chile’s SQM Slides 1.9%.
Background: Chile Stocks End Flat as Falabella Adds 3.2%.
More: Chile news in English, every day from The Rio Times.
Frequently Asked Questions
How did lithium shares do on 16 October?
The LIT fund fell 2.32% to US$64.05, Albemarle fell 2.75% to US$95.48 and SQM fell 0.45% to US$60.20. These are RT closing prices.
Why did lithium stocks fall?
They fell with the Nasdaq, which lost 2.14% on worries about spending on artificial intelligence, according to TheStreet. We found no lithium-specific news.
Did the lithium price fall?
We could not confirm a lithium carbonate price for Friday. We therefore make no claim about the metal.
Which countries hold the most lithium?
Chile, Argentina and Bolivia hold much of the world’s lithium, but only Chile and Argentina produce at scale. SQM is Chile’s main listed producer.
Market data: RT; drivers: TheStreet.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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