Pilbara Minerals says lithium prices may have bottomed

Reuters | July 23, 2024 | 3:39 pm Battery Metals Markets Australia Lithium

Pilbara Minerals’ Pilgangoora lithium operation, Western Australia. Credit: Pilbara Minerals

Australia’s Pilbara Minerals said on Wednesday that customer orders for its lithium remained strong and prices may have bottomed after the exit of higher cost suppliers this year.

The country’s biggest pure-play lithium miner said it had posted a 58% jump in June quarter revenue from March due to an increase in sales volume and average realized prices as it reported its quarterly production.