Core Viewpoint - SQM is addressing the global lithium supply surplus issue as demand falls short of expectations while new supplies come online, leading to a decline in lithium prices from their peak at the end of 2022 [1] Group 1: Company Strategy - SQM's CEO, Ricardo Ramos, stated that the company will continue efforts to increase total production capacity of lithium carbonate and lithium hydroxide to 240,000 tons and 100,000 tons respectively [1] - The company plans to continue processing lithium sulfate in China [1] Group 2: Market Context - The current market situation reflects a contrast between SQM's approach of increasing production and the strategies of some high-cost producers who are cutting back on output and spending [1]

Core Viewpoint - Despite the ongoing decline in lithium prices, SQM, one of the largest lithium producers globally, has achieved record lithium sales in the first quarter due to low-cost expansion and strong demand from the electric vehicle market, particularly in China, as well as new demand from energy storage systems [1] Group 1 - SQM reported a 27% year-over-year increase in lithium sales for the three months ending in March [1] - The growth in lithium sales is attributed to the robust expansion of the electric vehicle market and emerging needs from energy storage systems [1]