Did others pick up on the second last paragraph from Nevchev's...

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trombone

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20/09/22

06:19

Post #: 63782621
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Originally posted by nevchev: ↑

Chinese battery-grade lithium hydroxide prices at Yuan 520,000/mt
Market participants await upcoming Pilbara spodumene auction

Chinese battery-grade lithium carbonate values rose on the week Sept. 16 due to easing COVID-19 restrictions and tight supply.

Platts assessed battery-grade lithium carbonate at Yuan 512,000/mt Sept. 16 on a delivered, duty-paid China basis, up Yuan 2,000/mt on the week.
Traded levels found support at Yuan 510,000-520,000/mt. Market participants expect lithium prices to trend higher.
“The market is crazy right now, [we] could expect prices for lithium prices to reach Yuan 530,000/mt before the Golden Week,” a Chinese producer said.
Domestically, logistics and transportation have recovered as the market is not too concern about lockdowns, a Chinese trader said. “The Shanghai port is operating as normal and Chengdu is largely out of lockdown as well,” he said.
Chinese battery-grade lithium hydroxide prices traded as high as Yuan 520,000/mt in the week ended Sept. 16, surging above carbonate counterparts in the wake of tight domestic supply.
Platts assessed battery-grade lithium hydroxide at Yuan 500,000/mt Sept. 16, on a delivered, duty-paid China basis, up Yuan 10,000/mt on the week.
“With lithium carbonate prices moving higher, traders that used to do causticization to obtain lithium hydroxide will not be able to afford to run those lines anymore,” a Chinese producer said.
As prices continue to trend upward, some market sources said alternatives can be considered to obtain sufficient volumes at affordable prices.
“Some traders are offering small volumes far into the futures, three to four months in advance, so that lithium hydroxide can be bought at a certain price and volume,” a Chinese producer said.
Platts assessed spodumene concentrate with 6% lithium oxide content at $6,550/mt FOB Australia Sept. 16, up $50/mt on the week.
Market participants are keeping a close eye on the Pilbara spodumene auction next week and awaiting further cues on spodumene's price direction.
Traders currently pegged tradeable level at $7,000/mt CIF China in the week ended Sept. 16.
Platts is part of S&P Global Commodity Insights.

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Did others pick up on the second last paragraph from Nevchev's posted article -

'Market participants are keeping a close eye on the Pilbara spodumene auction next week and awaiting further cues on spodumene's price direction'
PLS Price at posting: $4.75 Sentiment: Hold Disclosure: Held
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0 Great analysis

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