It’s two Tier 1 Lithium powerhouses securing their futures. Less product to spot market means converters without off take contracts (of which there are many) need to secure spot product from a reduced pool of available supply. We’ve been here before and know what happens next. Spot up, contract prices follow.
Although Ganfeng have their own mines and brines, they need more. Ganfeng are suffering the same raw materials shortfalls everyone downstream is. Ganfeng project delays require raw material support, probably indefinitely.
If demand continues as forecast, smart move by Ganfeng and PLS.
Limit spot supply and make converters bid for a small batches.
Ann: Pilbara Minerals Expands Ganfeng Offtake Agreement, page-56
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