Lithium Wrap: Albemarle Up 1.4%, Chile’s SQM Slips as LIT Edges Higher
Key Facts
- LIT ETF closed up 0.29% at US$69.02 on Friday, September 25, 2026, as the fund tracking lithium miners and battery makers edged higher.
- Albemarle led producers with a 1.37% gain to US$109.73, partly recovering a 4.6% drop on Thursday; its second-quarter average realised price was US$19.53 per kilogram of lithium carbonate equivalent.
- Chile’s SQM slipped 0.34% to US$66.89, lagging Albemarle; its Atacama joint venture with state-owned Codelco passes to Codelco majority control in 2031.
- The Lithium Triangle holds more than 40% of measured and indicated global lithium resources, according to the US Geological Survey, with Chile and Argentina as established producers and Bolivia still in early commercial development.
- EV batteries drove more than 70% of lithium-ion deployment in 2025, down from almost 80% in 2024 as stationary storage grew, according to the International Energy Agency.
- Albemarle’s realised lithium price rose 60.5% year-on-year in the second quarter, a concrete sign that producer pricing is recovering.
Today’s Focus
This Lithium market wrap covers a mixed session: lithium equities were split on Friday, September 25, 2026, with Albemarle rising 1.37% to US$109.73 while Chile’s SQM slipped 0.34% to US$66.89. The Global X Lithium & Battery Tech ETF, known by its ticker LIT, closed at US$69.02, up 0.29% for the session.
Albemarle’s move partly reversed a 4.6% drop on Thursday. The backdrop is its reported average realised lithium price of US$19.53 per kilogram of lithium carbonate equivalent in the second quarter, 60.5% higher than a year earlier, a concrete sign that producer pricing is recovering even as spot market sentiment remains cautious.
SQM’s weaker showing comes against structural questions around Chile’s lithium governance. Its Atacama joint venture with state-owned Codelco passes to Codelco majority control in 2031, a timeline many foreign investors treat as a governance discount on the shares.
The Lithium Triangle of Chile, Argentina and Bolivia holds about 64 million tonnes of measured and indicated lithium resources, more than 40% of the world total, according to the US Geological Survey, keeping Latin America central to battery supply. EV batteries accounted for more than 70% of global lithium-ion deployment in 2025, according to the International Energy Agency, with stationary storage gaining share, supporting demand even as supply growth from Australia and China remains a watch item.
What matters today. Producer pricing is recovering for Albemarle, but Chile’s governance shift keeps SQM under pressure and makes company selection matter more than the commodity direction.
01 The session in one read
Lithium equities ended Friday, September 25, 2026, with a modestly positive tilt. The LIT ETF, which tracks lithium miners, refiners and battery companies rather than the physical metal itself, closed at US$69.02, a gain of 0.29% for the session.
The real story was a split among the big producers. Albemarle rose 1.37% to US$109.73, while Chile’s SQM slipped 0.34% to US$66.89, a divergence that tells investors more than the headline index move.
Friday’s session showed a split between lithium companies with improving realised prices and those carrying governance risk. Albemarle’s 1.37% gain reflects real pricing power, while SQM’s 0.34% decline shows investors still discount Chilean state involvement. The variable to watch is whether Albemarle’s realised price strength spreads to other producers or remains company-specific.
02 The board
The price board showed one clear leader and one clear laggard. Albemarle’s move to US$109.73 was the strongest among the lithium names, while SQM’s decline to US$66.89 left it trailing.
The LIT ETF’s 0.29% advance to US$69.02 suggests the broader lithium equity complex was slightly firm, but the mixed signals from the two largest Latin America-exposed producers kept the session from being a full risk-on day.
| Asset | Level | Change |
|---|---|---|
| Lithium (LIT ETF) | US$69.02 | +0.29% |
| Albemarle | US$109.73 | +1.37% |
| SQM | US$66.89 | -0.34% |
Source: NYSE and NYSE Arca closing prices, 2026-09-25. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 183,476.86 | -0.27% | +21.85% | 183,965.91 | 168,310 | 167,142 | — |
| IPSA | 11,256.80 | -0.38% | — | 11,299.82 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 64,992.23 | +1.13% | +12.17% | 64,264.16 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,893,751 | -1.57% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,584.72 | -0.95% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 59,934.37 | +1.27% | — | — | — | — | — |
| 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
Albemarle’s gain followed a 4.6% fall on Thursday, and the company’s reported average realised lithium price of US$19.53 per kilogram of lithium carbonate equivalent in the second quarter remains the fundamental support. That was 60.5% higher than a year earlier.
SQM’s decline came against the ongoing Chilean governance shift. The company’s Atacama joint venture with state-owned Codelco passes to Codelco majority control in 2031, a structure that many international investors price as a discount on the stock.
04 The Latin American read
The Lithium Triangle of Chile, Argentina and Bolivia holds more than 40% of the world’s measured and indicated lithium resources, according to the US Geological Survey, making the region structurally central to battery supply. Chile and Argentina are established producers, while Bolivia has vast resources but only early commercial development.
For foreign investors, the picture is one of opportunity alongside governance complexity. Chile’s state-control path is now a known variable, while Argentina’s producer status and Bolivia’s potential remain the longer-term regional story.
05 The names to watch
Albemarle is the name showing pricing recovery, with its realised lithium price up 60.5% year-on-year in the second quarter. Its US$109.73 close on Friday, up 1.37%, makes it the short-term leader among the listed producers.
SQM at US$66.89, down 0.34%, is now the governance-sensitive play. The Codelco joint venture and the 2031 majority state control timeline are the key factors investors need to model when comparing it with Albemarle.
06 The outlook
Lithium equities are being driven less by spot sentiment and more by company-specific pricing and governance factors. EV batteries accounted for more than 70% of global lithium-ion deployment in 2025, according to the International Energy Agency, with stationary storage taking a growing share, so demand is not the problem.
Supply growth from Australia and China remains the main risk to producer pricing. If Albemarle’s realised price strength extends to other producers, the LIT ETF could build on its US$69.02 close; if not, the divergence between Albemarle and SQM may widen further.
07 What to watch
- Albemarle realised pricing: Whether Albemarle’s US$19.53/kg average realised price in Q2 holds or improves in the third quarter will set the tone for producer equities.
- SQM-Codelco governance: Any update on the 2031 Codelco majority control timeline or joint venture terms will move SQM shares, which closed at US$66.89.
- Lithium supply from Australia and China: New supply announcements could pressure producer pricing and weigh on the LIT ETF, which closed at US$69.02.
- EV and grid storage demand data: Monthly deployment figures for EV batteries and stationary storage will show whether demand keeps growing as storage takes a larger share.
Frequently Asked Questions
What is the LIT ETF?
The Global X Lithium & Battery Tech ETF is an equity fund that tracks lithium miners, refiners, battery companies and related firms. It is not a direct proxy for the spot price of lithium.
Why did Albemarle rise on Friday?
Albemarle gained 1.37% to US$109.73, partly recovering a 4.6% drop on Thursday; its second-quarter average realised lithium price was US$19.53 per kilogram of lithium carbonate equivalent, up 60.5% year-on-year.
Why did SQM fall?
SQM slipped 0.34% to US$66.89 as investors weighed its Atacama joint venture with state-owned Codelco, which passes to Codelco majority control in 2031.
How important is Latin America for lithium?
The Lithium Triangle of Chile, Argentina and Bolivia holds more than 40% of the world’s measured and indicated lithium resources, according to the US Geological Survey, making the region central to long-term battery supply.
Market data: NYSE and NYSE Arca closing prices.
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