November 21, 2019 / 10:12 AM / 15 days ago

Chile's SQM profits plunge in Q3 as lithium prices, demand growth fall short

SANTIAGO, Nov 21 (Reuters) - Chile’s SQM, the world’s No. 2 producer of lithium, said its profits had plunged again in the third quarter on sagging prices for the key battery metal and softer-than-expected demand this year from China.

Profits sank 27.5% to $60.5 million in the third quarter quarter, from $83.5 million a year earlier, the company reported late on Wednesday. (Reporting by Dave Sherwood; Editing by Edmund Blair)

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