Sociedad Quimica Y Minera De Chile SA (SQM) stock soared 5.32% in after-hours trading on Friday, reflecting strong positive momentum for the lithium producer.

The surge was driven by multiple catalysts. Firstly, SQM's affiliate Tianqi Lithium released a stellar first-quarter earnings preview, projecting net profit to skyrocket by over 1,500% year-over-year. Tianqi explicitly noted that SQM's performance is expected to grow significantly, with recognized investment income rising substantially. Secondly, the broader lithium sector received a boost from reports that a major lithium-supplying country has halted exports, tightening the global supply outlook. This aligns with prior bullish demand projections from SQM executives, who forecast global lithium demand to grow by 25%.

The positive sentiment was sector-wide, with peer lithium producer Albemarle also gaining nearly 4% during the session.