GXY 0.00% $5.28 galaxy resources limited

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  1. 6,197 Posts.
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    ORE just released an update that stated

    "Sales of lithium carbonate are expected to be approximately 5,000 tonnes for the December half year at a price of US$12,470 per tonne, down approximately 8% on the June half. Production is expected to be approximately 6,000 tonnes for the half year and remains in line with previous guidance for FY19.

    The pricing achieved recently has been affected by soft market conditions in China having a direct impact on shorter term contracts resulting in December quarter prices of approximately US$10,800 per tonne on sales of approximately 2,850 tonnes."

    That's a 13.3% decline in sales price from the previous quarter. I think we are going to see some big fall out from this announcement!!
 
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