SMM Announcement】Lithium Spodumene Concentrate Index Price Adjustment on January 2, 2024
Jan 3, 2024 22:09
Source:SMMdue to an error by our pricing team in adjusting quarterly prices, there was a mistake in the final index calculation. We have now updated the Spodumene Concentrate (CIF China) Index as of January 2nd, 2024.Dear Valued Customer,
The SMM Spodumene Concentrate Index is positioned as a weighted average price across various transaction methods including long-term contracts and spot deals. It is to be noted that for the fourth quarter of 2023 and the first quarter of 2024, in certain proportions of long-term contracts, pricing was set to be based on the previous quarter’s (Q-1) price for settlement purposes. However, due to an error by our pricing team in adjusting quarterly prices, there was a mistake in the final index calculation. We have now updated the Spodumene Concentrate (CIF China) Index as of January 2nd, 2024.
January 2nd: The Spodumene Concentrate Index price has been corrected to $1,070 USD per ton, representing a decrease of $245 USD per ton from the previous day.
January 3rd: The Spodumene Concentrate (CIF China) Index price has been corrected to $1,060 USD per ton, which is a decrease of $10 USD per ton from the previous day.
We sincerely apologize for any confusion this may have caused the market.
Spodumene Prices, page-3898
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