Pilbara Minerals (ASX: PLS) has reported the outcomes of its first lithium spodumene focus public sale held by way of its Battery Materials Change, demonstrating robust demand for spot spodumene concentrates.
The product transport by way of Port Headland, Western Australia, fetched as much as US$1,250 per tonne FOB for first concentrates on leaving port.
Platts studies the public sale ‘spot’ worth for the primary 10,000-tonne cargo is effectively greater than the US$850 per tonne for five% minimal content material of lithium dioxide CIF being quoted in China, which means the product attracted a forty five% premium.
In line with a Platts analysis notice, the upper worth for brand spanking new materials signifies robust demand for spot spodumene concentrates.
Pilbara Minerals studies a complete of 62 on-line bids with costs starting from US$700 to US$1,250 per tonne.
Pilbara is the biggest ASX-listed pure-play lithium firm, proudly owning 100% of the world’s largest, impartial hard-rock lithium operation at Pilgangoora, Western Australia.
The share worth has rallied to a brand new report excessive each week for the previous 5 weeks, primarily reflecting lithium costs steadily climbing increased amid tremendous cycle-like fundamentals for the battery-making ingredient. On Tuesday, shares rallied 8.57% to a report excessive of A$2.28 in Sydney.
At A$2.45 a share, the inventory final traded up 19% previously week and 583% over the previous 12 months. The corporate has a market capitalization of A$7.11 billion (US$5.25 billion).