Pilbara Minerals shares hit one other excessive on first lithium gross sales

Platts experiences the public sale ‘spot’ value for the primary 10,000-tonne cargo is nicely greater than the $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 keeping with a Platts analysis word, the upper value for brand new materials signifies sturdy demand for spot spodumene concentrates.

Pilbara Minerals experiences a complete of 62 on-line bids with costs starting from $700 to $1,250 per tonne.

Pilbara is the most important ASX-listed pure-play lithium firm, proudly owning 100% of the world’s largest, unbiased hard-rock lithium operation at Pilgangoora, Western Australia.

The share value has rallied to a brand new document excessive each week for the previous 5 weeks, primarily reflecting lithium costs steadily climbing larger amid tremendous cycle-like fundamentals for the battery-making ingredient. On Tuesday, shares rallied 8.57% to a document excessive of A$2.28 in Sydney.

At A$2.45 a share, the inventory final traded up 19% up to now week and 583% over the previous 12 months. The corporate has a market capitalization of A$7.11 billion ($5.25 billion).