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AGY

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3.7¢ argosy minerals limited

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Dwnon4

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10/01/21

12:51

Post #: 50064992
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Originally posted by Crumble71: ↑

Cheers @Dwnon4 Europeans might have to increase their offer price?

The uptrend in China’s domestic battery-grade lithium carbonate price accelerated in the first pricing session of 2021 on tight supply and surging offering prices from most producers. Some buyers, who were in dire need for materials, purchased at higher levels.Fastmarkets’ weekly price assessment for lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price range exw domestic China was 50,000-58,000 yuan ($7,735-8,973) per tonne on Thursday January 7, up from 48,000-52,000 yuan per tonne in the previous week and the highest since hitting 56,000-59,000 yuan per tonne on October 31, 2019.
“Prices saw further increases this week entering January, with most producers even offering at 60,000-65,000 yuan per tonne for battery-grade lithium carbonate. I heard some deals concluded at 58,000-61,000 yuan per tonne for cash settlement if buyers are in emergency need for materials,” a buyer told Fastmarkets.
“We are offering battery-grade lithium carbonate at 60,000 yuan per tonne, and we have no available materials on hand with most materials already booked,” a producer said.

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It will climb very quickly from here, I have a target of 75k CYN by end of March but going by last week this may come a bit quicker. This will all help JZ get a good deal across the line.

AGY Price at posting: 12.0¢ Sentiment: Buy Disclosure: Held
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