Some, not all contract prices are above $20k per tonne (the only company to confirm achieving this was Arcadium). SQM just reported contract prices of US$12,600 per tonne, and while Albemarle didn't disclose their price per tonne, they did state that their spodumene market pricing averages 10% of the LCE price. Their last spodumene auction in Q1 achieved US$1,295 per tonne, translating to contract LCE prices of ~$12,950 per tonne, and that's likely at the high end noting that the spot sale price was achieved under auction conditions. Either way, it's a safe bet that their average contract sale price had a 12 in front of it.
Therefore, the world's two largest producers each achieved contract pricing in the US$12-13k range, some 37% lower than what you are suggesting.
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