New York, Jan 28, 2026, 07:12 (EST) — Premarket
- Albemarle climbed 2.4% in U.S. premarket action. Lithium Americas jumped 4.9%, and SQM ticked up 0.4%. The Global X Lithium & Battery Tech ETF edged higher by 0.9%.
- China’s battery-grade lithium carbonate closed Wednesday at an average of 172,000 yuan per metric ton, slipping 500 yuan from the previous day. The most-active futures contract fluctuated widely, ranging from 164,000 to 182,900 yuan, according to Shanghai Metals Market. 1
- Chile’s SQM confirmed its merger with Codelco’s lithium unit is officially done, following the Supreme Court’s dismissal of a shareholder appeal. 2
Before the opening bell on Wednesday, U.S.-listed lithium stocks climbed, despite lithium carbonate prices in China slipping once more following a volatile futures session.
This shift is significant as lithium has jumped from a quiet niche in materials to a hot daily trading topic. Chinese prices are now driving battery input costs, with producers scrambling to secure customers and protect margins after two volatile years.
Spot prices dipped, yet trading remained active. According to SMM, selling picked up early but eased as prices dropped. Buyers then moved in at cheaper levels, focusing on “just-in-time” purchases and building inventories for February.
In Chile, SQM confirmed its merger with Codelco’s lithium unit is officially done after the Supreme Court upheld a lower court’s ruling, dismissing Tianqi’s appeal. The agreement aligns with Santiago’s efforts to boost state control over the sector and ramp up production from the Atacama salt flat.
Supply news extends beyond Chile. Sigma Lithium reported selling another 100,000 metric tons of high-purity lithium ore fines, fetching a price above their previous deal. The company also confirmed that work to restart its mine is underway and on track for completion in January. 3
Demand tells half the story. The surge in battery storage — those massive units that stabilize power grids and serve as backups for data centres — has helped shift sentiment, Reuters reported earlier this month. “Energy storage is likely to become a game changer for lithium, but too high a price could undermine storage economics,” warned Jinyi Su, an analyst at consultancy Fubao. 4
The rally feels fragile. As prices rise, more marginal supply could return, while battery makers might ramp up efforts on chemistry tweaks and recycling if lithium costs remain high.
Traders are closely watching to see if China’s spot market stabilizes after this week’s volatility and if downstream demand continues through February. On the corporate front, Albemarle is set to release its fourth-quarter earnings after the New York close on Feb. 11. 5
