【Pilbara Receives Pre-Auction Bids for Spodumene】

【Pilbara Receives Pre-Auction Bids for Spodumene】

Australian mining company Pilbara Minerals announced today that it has received bids from multiple buyers prior to the spodumene concentrate auction on March 18th. The company has accepted a bid of US$1,106/tonne (CIF China) for 5.5% grade spodumene concentrate from one of the buyers. Considering the lithium content and freight costs, this bid is equivalent to US$1,200/tonne for a standardized 6% grade spodumene concentrate (CIF China). However, due to the company's existing offtake agreements with other companies, this batch will be delivered in the fourth quarter of 2024. Additionally, with a large number of term/offtake customers this year, the company finds it difficult to conduct regular spot sales through the BMX auction platform.