Lithium Fund Falls 2.79% as Albemarle Drops 3.81% | Lithium, Oct 29
Key Facts
- The LIT fund, a US-listed basket of lithium and battery companies, fell 2.79% to US$60.94 on Thursday, October 29.
- Albemarle, a leading US lithium producer, dropped 3.81% to US$93.27; SQM, Chile’s lithium and fertiliser group, lost 4.36% to US$56.37 in New York.
- In Santiago, SQM’s local shares fell about 3.3% as Chile’s main stock index, the IPSA, declined 1.25%.
- Lithium is the key metal in electric-vehicle batteries, and Chile and Argentina, two of the world’s main producers, sit in the Latin American ‘lithium triangle’ with Bolivia.
Today’s Focus
Lithium shares had a rough Thursday. The LIT fund fell 2.79% to US$60.94, and the two best-known producers dropped by more than that.
Albemarle lost 3.81% and SQM 4.36% in New York, and SQM’s Chilean shares fell about 3.3%. Lithium is the metal that powers electric-vehicle batteries.
Wall Street was weak, with the Nasdaq down 1.38%, and lithium shares fell with them.
What matters today. Lithium prices drive the profits of Chile’s and Argentina’s biggest export industries, so a weak sector day affects both their stock markets and their trade outlook.
01 The session in one read
The LIT fund closed at US$60.94 on Thursday, down 2.79% from US$62.69. It had edged up on Wednesday.
Albemarle fell to US$93.27 and SQM to US$56.37. Both are among the largest producers of battery-grade lithium.
We did not have a verified lithium price for Thursday, so this wrap tracks the shares and the fund, which are labelled proxies.
The sector’s fall of 2.79% was larger than the S&P 500’s 0.30% loss but smaller than the Nasdaq’s 1.38%, so lithium shares behaved like other growth shares.
We could not confirm a lithium-specific trigger. The variable to watch is the metal’s own price, which we could not verify for the day.
02 The board
The LIT fund holds lithium miners and battery makers, so it reflects the whole supply chain rather than the metal itself.
Albemarle lost 3.81% and SQM 4.36%. SQM’s shares in Santiago fell about 3.3%.
| Asset | Level | Change |
|---|---|---|
| Lithium and battery fund (LIT) | US$60.94 | −2.79% |
| Albemarle | US$93.27 | −3.81% |
| SQM (New York) | US$56.37 | −4.36% |
| SQM-B (Santiago) | CLP 56,000 | −3.29% |
Source: RT close, 2026-10-29. 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 | 169,186.42 | -1.06% | +19.56% | 171,006.10 | 178,526 | 175,157 | — |
| IPSA | 10,545.23 | -1.24% | — | 10,677.94 | 10,722 | 10,633 | — |
| IPC MEX | 69,441.29 | +0.37% | +12.74% | 69,182.39 | 70,008 | 69,383 | 49,372,306 |
| MERVAL | 2,848,945 | — | +12.65% | 2,859,051 | — | — | — |
| COLCAP | 2,489.93 | -0.63% | — | — | — | — | — |
| USD/BRL | 5.34 | -1.32% | -0.84% | 5.42 | 5.42 | 5.30 | — |
| EUR/BRL | 5.95 | +7.53% | -4.87% | 5.54 | 6.04 | 5.92 | — |
| USD/MXN | 18.69 | +0.62% | +1.45% | 18.57 | 18.69 | 18.54 | — |
| USD/CLP | 983.47 | -0.57% | +5.64% | 989.13 | 991.87 | 979.07 | — |
| USD/COP | 3,149 | +3.06% | -18.02% | 3,056 | 3,173 | 3,111 | — |
| USD/PEN | 3.45 | +0.17% | +3.85% | 3.44 | 3.45 | 3.44 | — |
| USD/ARS | 1,537 | -0.28% | +3.77% | 1,541 | 1,541 | 1,537 | — |
| USD/UYU | 40.21 | +3.57% | +2.29% | 38.83 | 40.21 | 40.08 | — |
| USD/PYG | 5,803 | +3.78% | -16.54% | 5,592 | 5,803 | 5,735 | — |
| USD/BOB | 11.97 | +4.93% | +77.92% | 11.41 | 11.97 | 11.82 | — |
| USD/DOP | 60.54 | +1.83% | -4.34% | 59.45 | 61.14 | 59.85 | — |
| USD/CRC | 451.24 | +2.13% | -7.80% | 441.83 | 451.40 | 450.04 | — |
| USD/GTQ | 7.64 | +3.23% | +2.18% | 7.40 | 7.64 | 7.64 | — |
03 What moved it
There was no company-specific news we could confirm for either producer. The fall tracked a weak day for risk assets, with the Nasdaq down 1.38%.
The Bureau of Economic Analysis (BEA), the US statistics agency, said US growth was 3.4% at an annual rate in the third quarter, above the 3.2% forecast, which kept US rates in focus.
04 The Latin American read
Chile is home to SQM and to the Atacama salt flat, one of the world’s richest lithium sources. SQM’s fall helped push the IPSA down 1.25%.
Argentina’s lithium industry is newer, and its output is growing.
05 The names to watch
Albemarle and SQM are the two most followed producers. For US readers, LIT is the simplest way to own the theme, but it also holds battery makers.
Lithium shares are volatile, and a single day’s fall does not set a trend.
06 The outlook
Lithium names usually follow growth stocks and electric-vehicle sentiment. A steadier Nasdaq would help, while another weak day could extend the fall.
Investors will also watch Chile’s mining policy and electric-vehicle sales data.
07 What to watch
- Nasdaq direction: Lithium shares have tracked growth stocks this week.
- Electric-vehicle demand: Sales data and battery makers’ orders drive the lithium outlook.
- SQM’s Chilean shares: A close below CLP 56,000 would extend the week’s decline.
- Albemarle’s next update: Producer news can move the whole sector.
Frequently Asked Questions
Why did lithium shares fall on Thursday?
The LIT fund lost 2.79% as the Nasdaq fell 1.38%. We could not confirm a lithium-specific trigger.
What is the LIT fund?
LIT is a US-listed fund that holds lithium miners and battery makers.
How did Chile’s SQM do?
SQM lost 4.36% in New York and about 3.3% in Santiago.
Why does lithium matter for Latin America?
Chile and Argentina are major producers, and lithium is a large export for both.
Market data: RT
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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