Lithium ETF Falls 1.95% as Albemarle Drops 2.73% | Lithium, Oct 12
The LIT lithium ETF fell 1.95% to US$68.37 on Monday 12 October as Albemarle dropped 2.73% and Chile’s SQM lost 2.25% in New York trading. The post Lithium ETF Falls 1.95% as Albemarle Drops 2.73% | Lithium, Oct 12 appeared first on The Rio Times .
On Monday, October 12, lithium shares experienced a broad sell-off, with the LIT ETF falling 1.95% to US$68.37, Albemarle dropping 2.73% to US$98.51, and SQM declining 2.25% to US$62.47. Despite the similar percentage changes, the three assets' moves pointed to a sector-wide sell-off rather than a company-specific issue. The dollar index rose by 0.35%, potentially influencing the market sentiment towards commodity-linked shares.
The lack of a clear catalyst for the decline made it challenging to pinpoint a specific reason for the sell-off. Both Albemarle and SQM are significant players in the lithium market, with Albemarle being the largest US-listed lithium producer and SQM headquartered in Chile, one of the world's leading lithium producers. The Lithium Triangle, comprising Chile, Argentina, and Bolivia, together holds roughly half of the world's identified lithium resources.
The broader market sentiment was also negative, with investors closely watching supply growth in relation to electric-vehicle demand.
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