Lithium Miners Fund Falls 2.2% to Near 12-Month Low | Lithium Wrap, Nov 10
Key Facts
- Lithium shares fell again: the LIT fund, a basket of lithium miners and battery makers, lost 2.23% to US$59.98 on Tuesday, November 10, 2026, just 0.3% above its 12-month low.
- Producers fell harder: US producer Albemarle dropped -4.23% to US$94.93, while Chile’s SQM lost -4.00% to US$54.43.
- The hole is deep: Albemarle sits 56.0% below its 16 April peak, and SQM is 42.9% below the same-day high.
- The cause is mixed: a stronger dollar and a sell-off across metals met a sector with falling profit forecasts, even though Wall Street’s fear gauge eased.
- History is mildly kind: after 37 earlier falls this size, the LIT fund was higher 20 sessions later in 24 cases, or 65%.
- Latin America is exposed: Chile’s SQM and the lithium ambitions of Argentina and Bolivia all depend on prices staying high enough to justify new projects.
Today’s Focus
Lithium shares had another bad day on Tuesday, November 10, 2026, and are now close to the lowest levels of the past year. The LIT fund, which holds miners and battery makers rather than the metal itself, has fallen 21.3% over 60 sessions.
The two best-known producers did worse than the fund. Albemarle, the US giant, and SQM, the Chilean company that pumps lithium from the Atacama salt flat, each lost about 4%.
The trigger was a firmer dollar and a wider sell-off in metals, but the deeper cause is older: investors keep cutting what they expect lithium companies to earn.
What matters today. Lithium stocks are testing the floor they set on 30 October, and a close below it would confirm the slide has further to run.
01 The session in one read
Lithium is the white metal inside nearly every electric-car battery, and its shares are in a long, grinding retreat. On Tuesday, November 10, 2026, the LIT fund fell 2.23%.
The wider market was calm by comparison: the S&P 500 slipped only 0.38%. Lithium was therefore sold for its own reasons, with a stronger dollar adding a nudge.
The best-supported reading is that a stronger dollar and a metals sell-off pushed an already weak sector lower, with the real weight coming from months of lowered profit expectations. We hold this at medium confidence because the dollar explains only part of a fall this size, and the day’s news offered no lithium-specific shock. The variable to watch is whether the LIT fund closes below its 12-month low of 59.81.
02 The board
Albemarle and SQM fell about twice as fast as the fund, which also holds steadier battery makers. Producers suffer most when lithium weakens, because their costs are largely fixed while their revenue falls.
Both stocks have now slid two sessions in a row. Yet over five sessions Albemarle is still up 5.26%, so Tuesday looks like a setback inside a bounce, not a fresh collapse.
| Asset | Level | Change |
|---|---|---|
| Lithium (LIT ETF) | US$59.98 | -2.23% |
| Albemarle | US$94.93 | -4.23% |
| SQM | US$54.43 | -4.00% |
Source: RT close, 2026-11-10. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
Live Market IntelligenceThe live market board
Rio Times · Live Market Intelligence
Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 171,336.99 | -0.52% | +10.36% | 172,236.05 | 173,272 | 170,569 | — |
| IPSA | 10,597.06 | +0.07% | — | 10,589.65 | 10,635 | 10,554 | — |
| IPC MEX | 71,564.96 | -0.42% | +13.95% | 71,866.30 | 72,057 | 71,295 | 202,220,399 |
| MERVAL | 2,848,945 | — | -10.97% | 2,859,051 | — | — | — |
| COLCAP | 2,528.01 | -1.88% | — | — | — | — | — |
| USD/BRL | 5.58 | +1.35% | +5.54% | 5.51 | 5.58 | 5.58 | — |
| EUR/BRL | 6.23 | +1.65% | +2.03% | 6.13 | 6.24 | 6.23 | — |
| USD/MXN | 18.60 | +0.36% | +1.21% | 18.53 | 18.62 | 18.60 | — |
| USD/CLP | 983.69 | +1.70% | +4.93% | 967.23 | 985.56 | 963.98 | — |
| USD/COP | 3,297 | +5.67% | -12.13% | 3,120 | 3,297 | 3,296 | — |
| USD/PEN | 3.41 | -0.06% | +2.98% | 3.41 | 3.41 | 3.41 | — |
| USD/ARS | 1,545 | -0.03% | +8.82% | 1,546 | 1,545 | 1,545 | — |
| USD/UYU | 40.43 | +3.52% | +2.92% | 39.06 | 40.43 | 40.43 | — |
| USD/PYG | 6,196 | +1.99% | -11.16% | 6,075 | 6,196 | 6,196 | — |
| USD/BOB | 11.68 | +0.19% | +72.65% | 11.66 | 11.68 | 11.68 | — |
| USD/DOP | 60.44 | +2.38% | -5.56% | 59.04 | 60.46 | 60.44 | — |
| USD/CRC | 445.62 | +1.24% | -9.10% | 440.16 | 445.62 | 445.62 | — |
| USD/GTQ | 7.64 | +2.97% | +1.90% | 7.42 | 7.64 | 7.64 | — |
03 Why it moved
First, and with most weight, the dollar. The US dollar index rose 0.55% to 102.22, and a dearer dollar makes dollar-priced raw materials costlier for buyers elsewhere, which hurts demand.
Gold made the same point: the gold fund lost 2.68% after US inflation data came in hotter than forecast. Metals sold off together.
Second, the signals disagree. The US 10-year Treasury yield slipped 1 basis point to 4.88% (a basis point is one hundredth of a percentage point), and the VIX fear gauge eased 2.31% to 19.46. Neither points to panic, so the dollar alone cannot explain the drop.
Third, and with the longest reach, profit forecasts. Albemarle, the US lithium producer, reported third-quarter results on 4 November that beat expectations on profit and sales, but its sales volumes were lower and it warned of weaker energy-storage sales in the fourth quarter because lithium prices have fallen. Investors have been cutting estimates ever since, and I rate this cause as medium confidence.
RT economic calendar: China’s Balance of Trade, its trade surplus, for October was US$105.28 billion (Balance of Trade in yuan: 712.78 billion), below the forecast of US$125.8 billion and the US$133.53 billion of September. A smaller surplus means China bought relatively more from abroad than it sold, which is a modest sign of firm demand for imported goods.
04 The trend behind it
The LIT fund is down 34.5% from its 12-month high of 91.62 on 11 May, and 11.34% over 20 sessions. Albemarle is 29.2% lower over 60 sessions, and SQM 27.5%.
This is a continuation, not a new phase. The one change is that the fund now hovers 0.3% above its 30 October low, so any further slip would write a new low for the year.
History offers mild comfort. In our own records since 2010, the LIT fund has fallen 11.3% in 20 sessions on 37 earlier occasions. It was higher 20 sessions later in 24 of them, or 65%, with a median gain of 1.3% and a worst case of 14.9% lower; history is not a forecast.
05 What it means for Latin America
Chile is the most exposed. SQM is its flagship lithium producer, and lower prices cut the royalties and taxes that flow to the state, though copper still matters far more to Chile’s budget.
Argentina and Bolivia face a different problem. Both need high prices to justify the new salt-flat projects that foreign investors are weighing, and a lower price makes those investments harder to defend.
For an ordinary investor, the point is that a lithium fund is a bet on mining companies, not on the metal. Falling prices can hit the shares twice, through weaker revenue and through lower valuations.
06 The names to watch
Albemarle is the bellwether, 56.0% below its April peak. Its 12-month low of 90.19 was set on 3 November, and the stock now sits 5.3% above it.
SQM touched its 12-month low of 51.70 on 11 November 2025, exactly a year ago today, so a further fall would test a year-long floor. Both stocks carry the same story: strong growth in electric-car demand, but too much supply chasing it.
07 What would end it
The line to watch is 59.81 on the LIT fund, the low of 30 October. Holding above it would suggest a base; a close beneath it would open the way to fresh lows. Round-number support sits at US$60, and the closest resistance is the 12-month high of 91.62, a long way up.
The dollar and the next US inflation figures set the short-term mood. The lasting fix is a rise in lithium prices themselves, which needs battery demand to outpace new supply. Until a price recovery appears in company results, the honest answer is that the slide stops only when forecasts stop falling.
08 What to watch
- The dollar: The index at 102.22 matters because a stronger dollar weighs on metals; watch whether it keeps climbing.
- LIT fund floor: A close below 59.81 would set a new 12-month low and confirm the slide.
- Albemarle at 90.19: Its 3 November low is the nearest line for the world’s best-known lithium producer.
- Profit forecasts: Further cuts after Albemarle’s results would show whether the sell-off has run its course.
Frequently Asked Questions
What is the LIT fund?
It is an exchange-traded fund holding shares of lithium miners and battery makers, so it tracks those companies, not the price of lithium itself.
Why did lithium shares fall on Tuesday, November 10, 2026?
A firmer dollar and a wider metals sell-off hit a sector already losing ground as investors cut profit forecasts.
Does this hurt Chile?
Yes, through SQM and state royalties, though copper matters more to Chile’s budget than lithium does.
Is this the bottom?
Not confirmed: the LIT fund is 0.3% above its 12-month low, and a close below 59.81 would extend the slide.
Market data: The Rio Times
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.