SQM Falls 5.68% as China Lithium Prices Slide Again
Key Facts
- SQM closed at US$67.72, down 5.68%, its New York listing the only live price while Santiago was shut.
- Albemarle fell 3.60% to US$110.91, leaving it down 5.62% for the week.
- The lithium fund slipped 0.56% to US$70.50, a fraction of the producers’ losses on the day.
- China’s lithium carbonate spot price was 130,000 yuan a tonne, about US$19,410, with the GFEX dominant contract at 127,160 yuan, about US$18,986.
- Sigma Lithium rose 12.27% to US$9.97, moving against the rest of the group on Friday.
- The Santiago exchange was shut on Friday for Fiestas Patrias, so SQM’s fall was visible only through its New York listing.
Today’s Focus
Lithium producers fell on Friday as Chinese carbonate prices slid again. SQM lost 5.68% and Albemarle 3.60%.
The trigger was in China, where spot lithium carbonate traded at 130,000 yuan a tonne, about US$19,410. The GFEX dominant contract settled at 127,160 yuan, about US$18,986.
Trading Economics described the September level of 143,000 yuan a tonne as the lowest in nearly one month. Stockpile revisions have suggested a more comfortable supply backdrop, according to Trading Economics.
The equity reaction was orderly rather than panicked. The sector fund slipped 0.56% to US$70.50, a fraction of the producers’ losses.
Santiago was shut for Fiestas Patrias, so SQM’s fall was visible only through its New York listing. The Chilean reaction is therefore deferred to Monday.
Sigma Lithium was the exception, rising 12.27% to US$9.97. It moved against the rest of the group on Friday.
What matters today. Chinese carbonate prices are the level producer equities track. Until they stop falling, the miners have little to anchor on.
| Instrument | Level | Session |
|---|---|---|
| Ibovespa (Brazil) | 185,229.17 | -0.41% |
| S&P 500 (US) | 7,650.50 | +0.17% |
| Nasdaq Composite (US) | 26,523 | +0.39% |
| VIX (US volatility) | 14.81 | -4.08% |
| USD/BRL | 5.1445 | +0.30% |
| Gold (per ounce) | US$4,380.01 | +0.77% |
| Silver (per ounce) | US$66.35 | +1.41% |
| Oil fund (USO) | US$153.82 | -0.96% |
Friday, 18 September 2026 close. Gold, silver and the oil fund in US dollars.
01 The session in one read
Lithium producers fell on Friday as Chinese carbonate prices slid again. SQM lost 5.68% and Albemarle 3.60%.
SQM closed at US$67.72 in New York. Albemarle ended at US$110.91, leaving it down 5.62% for the week.
The sector fund held up far better, slipping 0.56% to US$70.50. It fell a fraction as far as the two producers.
Santiago was shut for Fiestas Patrias, so SQM’s fall was visible only through its New York listing. The Chilean reaction is deferred to Monday.
02 The board
| Instrument | Level | Session | Week | Read |
|---|---|---|---|---|
| SQM (SQM) | US$67.72 | -5.68% | -3.09% | Fell hardest of the producers |
| Albemarle (ALB) | US$110.91 | -3.60% | -5.62% | Down 5.62% over the week |
| Lithium fund (LIT) | US$70.50 | -0.56% | -1.38% | Fell a fraction as far |
| Sigma Lithium (SGML) | US$9.97 | +12.27% | +4.95% | Moved against the group |
| Lithium Americas (LAC) | US$2.86 | -1.04% | -1.72% | Development-stage name drifted lower |
| S&P 500 | 7,650.50 | +0.17% | -0.08% | Firm, but not the driver |
The producers fell far harder than both the fund and the wider market. The S&P 500 rose 0.17% to 7,650.50 on the same day.
Sigma Lithium moved against the group. It closed at US$9.97, up 12.27% on the session and 4.95% on the week.
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03 What moved it
Chinese lithium carbonate prices fell again on Friday. Spot traded at 130,000 yuan a tonne, about US$19,410, according to Sunsirs.
The GFEX dominant contract settled at 127,160 yuan, about US$18,986. Listed contracts for the date spanned 126,000 to 130,800 yuan, about US$18,813 to US$19,530.
Trading Economics described the September level of 143,000 yuan a tonne as the lowest in nearly one month. Stockpile revisions have suggested a more comfortable supply backdrop, according to Trading Economics.
The decline has run through September. Mysteel reported spot at 143,000 yuan on 7 September and 135,000 yuan on 11 September, about US$21,351 and US$20,157.
Sunsirs put spot at 134,000 yuan on 14 September, about US$20,010. The GFEX 2701 contract closed at 129,120 yuan on 15 September, about US$19,279.
04 The Latin American read
Chile, Argentina and Bolivia form the lithium triangle. SQM and Albemarle both draw brine from the Salar de Atacama in northern Chile.
Santiago was closed on Friday for Fiestas Patrias, so the Chilean reaction to the price move is deferred. The IPSA last closed at 11,381.18 points on Thursday.
SQM’s B shares rose 3.79% in Santiago on Thursday, the last session before the holiday. Friday’s fall in New York reaches the IPSA only when trading resumes.
The Chile fund slipped 0.38% to US$39.45 on Friday. It is down 0.08% over the week.
The Latin America fund fell 1.16% to US$35.04. The Brazil fund slipped 0.58% to US$37.52 and the Mexico fund 1.28% to US$73.34.
05 The names to watch
SQM is the Chilean producer. Its 5.68% fall was the largest decline among the named lithium names on Friday.
Albemarle fell 3.60% to US$110.91. It closed the week down 5.62%.
The lithium fund moved a fraction as far. It closed at US$70.50, down 0.56% on the session.
Sigma Lithium rose 12.27% against the trend. That made it the outlier of the session rather than the template for the group.
Lithium Americas slipped 1.04% to US$2.86. The development-stage name drifted lower with the producers.
06 The outlook
The week ends with Chinese prices still falling and producer equities following them down. The sector fund is down 1.38% over the same stretch.
SQM is down 3.09% for the week and Albemarle 5.62%. Both closed lower on Friday than they did a week earlier.
Chile’s producer price index is due on Thursday. Consensus stands at 21% year on year, against 20.5% prior.
Mexico’s central bank sets its policy rate on Thursday. The prior level is 6.5%.
Brazil’s IPCA-15 is due on Friday. Consensus is 4.5% year on year, against 4.24% prior.
Santiago reopens on Monday after the Fiestas Patrias closure. The IPSA’s last close was 11,381.18 points.
07 What to watch
- Chinese carbonate prices: The level in China is what producer equities track.
- Santiago’s reopening: Chile’s market was shut on Friday, so SQM’s fall reaches the IPSA when trading resumes.
- Sigma Lithium’s gain: A 12.27% rise against the trend made it the outlier of the session.
- Chile’s PPI print: Producer prices are due on Thursday, with consensus at 21% year on year.
- Mexico’s rate decision: Banxico sets policy on Thursday, with the prior level at 6.5%.
- Brazil’s IPCA-15: Inflation is due on Friday, with consensus at 4.5% year on year.
Frequently Asked Questions
How much did lithium shares fall on 18 September 2026?
SQM fell 5.68% to US$67.72 and Albemarle 3.60% to US$110.91. The LIT sector fund slipped 0.56% to US$70.50, while Sigma Lithium rose 12.27% to US$9.97.
Why did lithium shares fall?
Chinese lithium carbonate prices slid. Spot traded at 130,000 yuan a tonne, about US$19,410, according to Sunsirs.
What was the Chinese lithium carbonate price on 18 September 2026?
Spot was 130,000 yuan a tonne, about US$19,410. The GFEX dominant contract settled at 127,160 yuan, about US$18,986.
Did the Chilean market react to the fall?
Not on Friday. The Santiago exchange was closed for Fiestas Patrias, so SQM’s decline was visible only through its New York listing.
Where is lithium produced in Latin America?
Chile, Argentina and Bolivia form the lithium triangle. SQM and Albemarle both draw brine from the Salar de Atacama in northern Chile.
Is the lithium price recovering?
No. It fell on Friday. Spot in China was 130,000 yuan a tonne, about US$19,410, down from 134,000 yuan on 14 September.
Sources: RT end-of-day series for SQM, ALB, LIT, LAC and SGML; Sunsirs for Chinese lithium carbonate spot and GFEX futures on 18 September; Mysteel for early-September spot levels; Trading Economics for the September China price level.
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