SQM is moving up with the lithium complex as investor focus swings back to the 2026 recovery setup—stronger realized pricing vs. 2025 lows and expectations for healthier demand and margins. In recent market commentary, SQM has flagged a pricing inflection and guided to 2026 lithium sales volume growth of over 10%, helping reinforce the idea that sector fundamentals are stabilizing and improving.

The renewed bid in SQM is being supported by a narrative that lithium prices have likely established a higher floor for 2026 compared with the prior trough, improving earnings power for low-cost producers. Separately, the company has communicated expectations for higher 2026 volumes at its lithium business, which strengthens operating leverage if pricing remains firm.

Two near-term events are keeping SQM on the radar: (1) SQM’s next earnings report, scheduled for after the close on May 27, 2026, and (2) the approach of the stock’s next dividend window (market calendars show an early-May ex-dividend date). With the stock already reacting to shifting lithium price expectations, any update to realized pricing, volume guidance, or partnership execution can amplify day-to-day moves.

If lithium pricing continues to firm, SQM’s upside sensitivity is high because the market typically reprices the group on margin expectations and forward cash flows, not just spot quotes. Key watch items into earnings include lithium realized-price commentary, 2026 volume trajectory, capex/expansion pacing, and any operational or governance updates tied to the Codelco partnership.