Chief executive Dale Henderson has encouraged investors to look past a down quarter in lithium prices, pointing to a rally in the past 60 days.
Pilbara received an average price of $US804 a tonne for the lithium-rich spodumene concentrate it sold in the first three months of 2024; down 28 per cent on the previous quarter and 83 per cent lower than prices received at the same time last year.
“Over the last 60 days to the 16th of April, we have seen a 27 per cent increase for spodumene concentrate.”Mr Henderson said the 27 per cent price rise for spodumene over the past 60 days was an average taken across five different price-reporting agencies, and higher prices had also been reported for battery-grade products like lithium carbonate and
“We are getting pushed for more supply, so our insight into the industry is very positive in terms of demand for our product and the direction of the industry,” he said.The company boosted production volumes by 2 per cent over the past three months, which helped keep unit costs – including the cost of shipping to customers in Asia – lower at $US519 a tonne.Pilbara’s cash balance declined from $2.1 billion to $1.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX: PLS Pilbara Minerals mulls building lithium processing plant anywhere but ChinaThe proposed joint facility with China’s Ganfeng, will be closely watched as one of the first big tests for Australian miners seeking US-allied government grants while in partnership with a Chinese company.
Read more »
ASX 200 LIVE: ASX to slip, Wall St edges lowerAustralian shares are set to follow New York with a modest opening loss. Citi sees ‘profit-taking’ risk for ASX 200. Bitcoin rallies. Follow updates here.
Read more »
ASX 200 LIVE:ASX rises; Platinum sinks over 20pc; Westpac downShares climb at the closing bell; monthly CPI data unchanged; Platinum tumbles after client pulls $1.4 billion; Southern Cross Media chairman retires; Trump Media rallies 16 per cent in first day of trading. Follow updates here.
Read more »
ASX 200 LIVE: Banks, miners push ASX to record high; Wall St gainsShares hit record high, gold, lithium, iron ore miners gain. Citi warns on Ramsay’s French hospitals. Dow Jones nears 40,000 points. Retail sales ahead. Follow here.
Read more »
ASX 200 LIVE: ASX record run to get second quarter checkAustralian shares are set to reopen after the Easter break following a mixed session in New York. RBA’s Kent to speak. Follow updates here.
Read more »
ASX 200 LIVE: ASX to rise, Powell stokes rate cut hopesAustralian shares are set to open higher. Wall St closed mixed; Tesla snaps losing streak. Gold reset record high. Iron ore drops. Follow updates here.
Read more »