Ganfeng who is a major customer and a leader in the industry reported results. In their regulatory filings is:
Mainly due to the
rally of share
prices of Pilbara
shares held by
t h e C o m p a n y
d u r i n g t h i s
period
Reuters reported:
The Chinese company, which counts automakers Tesla and BMW among its customers, said in a filing to the Hong Kong stock exchange its net income was 1.025 billion yuan ($156 million) last year. That was up 184% on 2019, mostly due to gains on fair value of financial assets such as equities.
===============
In other words, most of the profits of one of the biggest consumers of lithium was: profits in Pilbara!
In addition, Ganfeng is very optimistic on the price of lithium:
The postponement of lithium project expansions in South America - due to the impact of the pandemic and previous demand forecasts - will to some extent “slow down the growth of short-term lithium compound supply and create conditions for an improved pricing environment in the future,” Ganfeng said.The industry is “gradually shifting from a balanced supply and demand to a tight supply situation,” it added.
===============================
So one of the biggest firms buying lithium got most of it's profits from shares of Pilbera and predicts price of lithium will increase because demand is greater than supply.
Reuter's article
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