Rocketing spot spodumene price pushes contractual negotiated pricing up

Surging spot spodumene prices following aggressive bids in the latest Pilbara Minerals' spodumene concentrate auction has elevated negotiated prices for fourth-quarter term contracts, market sources told Fastmarkets.

Bids for SC 5.5% units reached a high of $2,240 per dry metric tonne (dmt), fob Hedland, during the Australian miner's second spodumene auction on its Battery Metals Exchange on Tuesday September 14. The price was approximately equivalent to $2,500 per dmt on a cif China basis, market participants noted.
Pilbara Minerals further disclosed on September 29 that four individual groups bid more than $1,750 per dmt in the auction.
Fastmarkets' assessment of spodumene min 6% Li2O, cif China, was $2,000-2,500 per tonne on September 30, up by 91.49% from $1,050-1,300 per tonne on August 25. The price will next be assessed on October 14 following Fastmarkets' amendment of its spodumene pricing frequency.
Emerging spot market influences contractual prices

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