The company’s chief executive says lithium supply from bit players starting to wither away is a sign the price has reached a new floor.
Already a subscriber?Pilbara Minerals chief executive Dale Henderson says the lithium market appears to have reached its new floor price as supply from marginal players comes out of the market.
Pilbara received an average price of $US840 a tonne for the spodumene concentrate it sold in the three months to June 30. This was up 4 per cent on the previous quarter, but down from $US3256 a tonne a year ago. “It looks like high-cost supply is coming out of the market, so no surprise there,” Mr Henderson said. “And it looks like the bulk of the supply is reducing to those major producers with a low-cost profile, such as Pilbara. As it relates to investment and new supply given the lower priced environment, it is likely to be more difficult for new projects to get funded.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LTR ASX: Liontown Resources’ funding talks reveal critical minerals truthsThe harsh reality of where the ASX’s two biggest sectors – banking and mining – cross over has played out before our eyes.
Read more »
ASX 200 LIVE: ASX rises; Booktopia put into voluntary administrationShares advance; Powell bolsters rate-cut pivot hopes; retail sales figures pending; APA Group expects $145m non-cash impairment to Moomba pipeline. Follow updates here.
Read more »
ASX 200 LIVE: ASX to fall; Lendlease sells US military housing business for $480mShares poised to dip 0.5 per cent at the start of trade; Euro rises as Le Pen’s party set for smaller victory than feared; May retail data on Wednesday. Follow updates here.
Read more »
ASX 200 LIVE: ASX to rise, Nvidia rout gathers momentumAustralian shares are set to rebound. Nvidia sheds another 6.7pc, three-day loss reaches 13pc. Bitcoin falls 6pc. Follow updates here.
Read more »
ASX 200 LIVE: ASX to fall, monthly inflation data awaited; Nvidia bouncesAustralian shares are set to open lower; oil and gold fell. Nvidia rallies 6.8pc. Monthly CPI indicator awaited. Follow updates here.
Read more »
ASX 200 LIVE: ASX to drop on inflation worries, Wall Street gainsASX futures lose 1pc as inflation hits 4pc. Wall St gains. European stocks fall. Gold eases, oil flat. Bitcoin extends losses. AVZ rejects takeover bid. Follow here.
Read more »