Ann: Results of Inaugural BMX Auction, page-147

Pilbara Minerals' first spodumene platform auction concludes at $1,250/dmt FOB Port Hedland | S&P Global Platts (spglobal.com)

"The opening price was set at $700/mt FOB Australia and we were expecting the price to hit a maximum of $1,000/mt. This closing bid blew our mind, we really did not expect it to hit such a high price," a China-based bidder said.

In comparison, a similar tender for 15,000 mt of spodumene with 6% lithium oxide was concluded in the week-ended July 23 at around $1,000/mt on a CIF China basis for late third quarter shipment.

"It's still more than what I expected but it's not a big surprise considering last week's tender. It's probably a reflection of the market, especially considering price expectations for the second half of 2021, when prices are likely to continue increasing," a China-based producer said.

"Spot materials are extremely scarce. There are no stocks anywhere and downstream users are also starting to outbid for materials," a China-based dealer said.