Platts assessed spodumene concentrate with 6% lithium oxide content (SC6) at $7,700/mt FOB Australia Nov. 4, unchanged on the week and up $700/mt on the month.
Market sources generally agreed that due to the tight market, spot spodumene cargoes could easily command prices similar to Pilbara’s auction price, with its most recent sale on Oct. 24 closing at $7,255/mt with a target grade of 5.5% lithium oxide, equivalent to $8,000/dmt, CIF China basis for 6% lithium oxide content, with the calculation based on the company’s own pro-rata conversion formula.
“The market is still very short on lithium and I think Pilbara’s recent auction prices serve as a strong indication that prices could continue higher,” a trader commented.
Banter and general comments, page-16968
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