Lithium prices are rising, lithium industry giant SQM boosts supply plan.

As the world's largest lithium producer by market value, Chilean chemicals and mining company SQM has raised its sales forecast for this year and remains optimistic about price trends after announcing a 28% plunge in core earnings for the second quarter. The company stated in a release that core earnings attributable before special items fell to $307.9 million in the last quarter. However, it is accelerating its expansion and expects lithium sales at its domestic factories to grow by 10% this year. The company also raised its sales forecast for its Australian operations. SQM maintains its forecast for global demand growth of about 17% this year.