Banter and general comments, page-1830

Just caught up with this on Stock Head

• April spodumene shipment achieves price of $US655 dmt from a Chinese customer
• ‘Lithium chemicals pricing continued to significantly improve during the quarter, which is now starting to be reflected in the price received for spodumene concentrate sales’
• Shipping guidance for June quarter lifted to 75,000 to 90,000 tonnes

Australian lithium company Pilbara Minerals (ASXLS) has seen a marked improvement in spodumene concentrate prices and reported a spot cargo sale to China at $US655 dry metric tonnes (dmt).

The price detail was contained in a letter of credit the company received in March ahead of the dispatch of the shipment of spodumene concentrate in April.

Pilbara Minerals said the headline price of $US655/dmt ($849/dmt) implied in the letter of credit had highlighted “the recent strong upward trajectory in pricing”, according to its March quarter report.

“Lithium chemicals pricing continued to significantly improve during the quarter, which is now starting to be reflected in the price received for spodumene concentrate sales,” said the company.

The price quoted for the spodumene concentrate cargo for shipment to China is toward the upper end of a market range for March at $US550 to $US700 dmt, according to price reporting agencies.

Strong demand for spodumene concentrate is emerging from existing and new customers such as chemical companies in the form of purchase enquiries, it said.