Pilbara Minerals has sold an 8,000t SC5.5 spodumene cargo for an extraordinary $US2,240/t via its Battery Material Exchange (BMX) digital auction platform.
The ‘icing on the cake’ for PLS is that this product – 5.5% lithium – is the low grade stuff.
The equivalent headline price achieved for industry standard 6% product would be USD$2,500/t.
This essentially doubles the $US1,250/tonne received via the inaugural auction held late July.
It is also represents a ~550% year-on-year price increase, with spod prices last year hitting lows of ~$US380/t.
Even the experts are dumbstruck.
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