RE: Lithium $28,000 a Tonne23 Sep 2021 09:53
Last week, Pilbara Minerals announced the results of its second lithium spodumene digital auction. The highest bid came in at US$2,240/dry metric tonne (dmt) for 5.5% spodumene concentrate.
It was just two months ago that its inaugural auction received bids from US$700/dry metric tonne (dmt) to US$1,250/dmt.
S&P pointed out that tight supply conditions have led to higher prices, with some market participants buying “available September delivery cargoes to stockpile ahead of production”.
“Some suppliers were asking for Yuan 180,000/mt for October-delivery battery-grade lithium in their term negotiations, which — if accepted by buyers — will likely drive spot prices to Yuan 190,000/mt or above.”
And suggest nudging $30,00 a tonne