Not sure of the exact formula that they use but the difference is in freight cost and insurance. From previous examples it appears to be around US$30-50pt FOB > CIF.
Also hard to tell because we don’t know what they are doing within the spot market. I think they have 3 month pricing agreements with each off take partner, as was mentioned in a video by Ken earlier in the year.
I would be lying if I said it was more than a vague memory but I’m sure we could chase my comment for a fact check.
That Platts assessment is the most recent I’ve seen to date and obviously just assessing what is being talked about at the converter level so it’s a very good insight of what’s to come. I anticipate there would still be a 1-2 month lag on that price to what is actually relieved due to the pricing agreements.
My guess for this quarter is an average price received $USD525-550 CIF.
Spodumene Prices, page-800
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