General Discussion Topics, page-38377

If we are going off of earnings calls from producers I would say

Mt. Catlin (AKE) said Q1 2022 was going to be 2500/t for SC6

It is much more difficult to know for sure about carbonate / hydroxide because much of the production takes place in China. I will use Livent as my best gage for what LT prices are at.

In 2021 Livent produced around 17,000 tons of LCE and forecasted 390m - 410m in revenue. So I think that means they were/ are selling for between $23,000 and $24,000 per ton.

Joe Lowery has stated that Albermarle was making between $14,000 and $16,000/t but they are working off of older contracts which are due to reset and when they do, they expect to double to between 28,000/t and 30,000/t. Albermarle and Livent will have earnings calls in February and I think this will allow the market to understand to a greater degree where prices are at.

Both Livent and Albermarle have plans to add additional tons of LCE in the coming years. Livent looks to be adding 25,000 tones and ALB looks to be adding a whopping 225,000 tons - when those all start coming on line, some as early as 2023 and 2024 (prior to our projected LCE start) prices will certainly moderate, where they land in 2025 when we have LCE to sell is anyone's guess.