Pilbara Minerals Conducted a New Round of Lithium Concentrate Pre-Auction!

SHANGHAI, Oct 18 (SMM) - On October 18, Pilbara Minerals conducted a new round of pre-auction of lithium concentrate, and the bidding prices were about $7,100/mt, an increase of $112/mt, or 1.6%, compared with the transaction prices on September 20, 2022. The company made available a shipment of 5,000 dmt on a 5.5% lithia basis for sale. The cost prices of 1 mt LCE were about 510,000 yuan/mt. The cargo is now estimated to be available in mid-November and will flow into the market in December to January. 

Pilbara Minerals (PLS) has accepted a pre-auction bid of $7,100/dmt for a spodumene concentrate cargo before its tenth scheduled digital auction on the battery material exchange (BMX). The successful buyer will pay a 10 per cent deposit. Amid the shortage of lithium concentrate, the prices continue to increase. Although the auction prices hit a record high, the increase was slightly slower than the previous auction. In the short term, the release of lithium resources was slower than expected. However, in the long run, with the commissioning of new mines at home and abroad and the reconstruction of existing mines, the tight supply will be alleviated to some extent.

The first auction: On July 30, 2021, the transaction prices were $1,250/mt, SC 5 5%, with a trading volume of 10,000 mt.

The second auction: On September 13, 2021, the transaction prices were $2,240/mt, SC 5 5%, with a trading volume of 8,000 mt.

The third auction: On October 26, 2021, the transaction prices were $2,350/mt, SC 5 5%, with a trading volume of 10,000 mt.

The fourth auction: On April 27, 2022, the transaction prices were $5,650/mt, SC 5 5%, with a trading volume of 5,000 mt.

The fifth auction: On May 24, 2022, the transaction prices were $5,955/mt, SC 5 5%, with a trading volume of 5,000 mt.

The sixth auction: On June 23, 2022, the transaction prices were $6,350/mt, SC 5 5%, with a trading volume of 5,000 mt.

The seventh auction: On July 13, 2022, the transaction prices were $6,188/mt, SC 5 5%, with a trading volume of 5,000 mt.

The eighth auction: On August 2, 2022, the transaction prices were $6,350/mt, SC 5 5%, with a trading volume of 5,000 mt.

The ninth auction: On September 20, 2022, the transaction prices were $6,988/mt, SC 5 5%, with a trading volume of 5,000 mt.