Oversupply caused from SQM & ALB is a myth. SQM 2016 17 & 18 production is roughly the same for each year (flat). ALB nowhere near their nameplate production, 25% of nameplate in 2017 and 50% in 2018 fin years. Chile clamping down on water use, imposing restrictions on pumping in the salar, yet SQM say they can increase production 4 fold and, not use any further water than current production. Got to put a big question mark over that one, and the fact that they are willing to go on record and advise the market of same. If that BS was published by an ASX miner, the regulator would be all over them.
MS in their (paper) supply forecasts had SQM & ALB combined production of 416ktpa by 2021, but I have stated many times, no hope, a load of BS, and ironically, probably needed by 2025.
If I was Tianqi, I would be holding off on buying a 24% stake in SQM, funds better invested elsewhere IMO.
Lithium Demand surge, page-2348
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