Gxy rumoured to achieve $800 US/t

Lithium spot and contract price news.

Lithium battery news - US$20 billion committed to new Lithium battery factories and expansions, and a forecast six-fold increase in the market for EV batteries to US$24 billion by 2025.

Lithium miners news - A very busy month for the Australian lithium miners. Galaxy Resources is rumored to achieve USD 800/tonne spodumene prices for CY 18 offtake.

Welcome to the October 2016 edition of the lithium miner news.

Again another very busy month for the lithium industry, with many of the lithium miners stock prices falling in October, perhaps due to the small declines in the lithium carbonate prices. I will start with a bullish quote from a Nasdaq article dated October 18, 2016:

"Lithium now appears to be at a crucial moment in time: The moment when profits in the industry begin to elevate market valuations, and when consolidation starts to boost gains for all those junior explorers who have been scooping up land in the world's lithium sweet spots. Lithium demand is rising fast, but those that understand the product lifecycle and development stages see that we are on the cusp of something much bigger. As more and more countries cross the electric vehicle chasm, demand will explode. This is not even considering grid storage, which is set to outstrip electric vehicle demand, and the rising use of consumer electronics."

For the record, I agree with the above, and have been saying similarly for two years now. The only caveat being that EVs continue to grow rapidly, which I think they will.

Lithium spot and contract price news

During October, 99.5% lithium carbonate China spot prices fell 0.59% and are now stabilizing around USD 18,000/tonne.

Lithium carbonate China spot price to July 2016 - Currently around USD 18,000 per tonne















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