Ann: Suspension from Official Quotation, page-37

MinRes blames ‘manipulation’ for fall in lithium prices


Mineral Resources says lithium markets are being manipulated to suppress prices in a sector still dominated by battery chemical makers in China.Falling prices have not deterred Chris Ellison from moving to secure the Bald Hill lithium mine from receivers. MinRes has suffered a plunge in lithium prices as it jostles with Gina Rinehart and the world’s lithium giants and hopefuls for more ground in Western Australia to mine the key battery ingredient.The company said there was nothing fundamentally wrong with demand, and that “market manipulation” was a factor in softer pricing in an analyst call on Wednesday.“There’s a lot of paper trading in the [lithium] market right now,” MinRes head of investor relations James Bruce said.Mr Bruce declined to elaborate when asked if prices were being accurately quoted by the metals information providers. He said: “We supply to our customers based on those indices and so it’s a negotiation between us and our customers.”RELATED QUOTESMINMineral Resources$60.090 4.63%1 year1 dayOct 22May 23Oct 2355.00077.00099.000Updated: Oct 25, 2023 – 5.04pm. Data is 20 mins delayed.View MIN related articles