I would suspect SQM to be talking up demand (thus prices) now their expansion plans are lagging by 25kt this year (i.e. 45kt and not 70kt). They were pretty bullish back in March following Morgan Stanley's (MS) infamous research note in Feb, talking expansion plans and growing/retaining market share.
I have said it many times, supply is easy to estimate (just add up the stated nameplate supply announced by each company), but those who follow the sector know too well that nameplate (paper supply) rarely equals actual supply, particularly with the brine mob. According to MS, LCE production out of South America is supposed to be 185kt for 2019. - No hope, maybe 90kt, which sees MS forecasts off by only 106%, thats a big number to be wrong on each year. Does that mean MS took than own advice and held off buying Li stocks, if yes, not too smart, but infact I suspect the opposite.
But hey, you dont want to get me started on MSdirty pr...s
re:Lithium demand surge, page-787
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