AT A GLANCE: Pilbara Minerals’ spodumene sales hit record levels in Q4 on lithium recovery

A summary of Australian spodumene concentrate miner Pilbara Minerals‘ results for the fourth quarter of 2020, released on Wednesday January 6.

In brief
  • Pilbara Minerals’ sales increased by 38% to 70,609 dry metric tonnes of spodumene in the fourth quarter of 2020 due to improved spodumene concentrate demand from existing offtake customers and new inquiries amid a recovery in lithium chemical prices.
  • Total shipments exceeded sales guidance for the December quarter originally forecast at 55,000-70,000 of dmt spodumene concentrate.
  • The sale results were a record high for the company.
  • Pilbara Minerals said the record sale was underpinned by work undertaken in the previous 18 months in terms of lithia recovery, operating costs reduction and debt refinancing.
  • Battery-grade and technical-grade lithium carbonate prices in China, a key market for EVs, bottomed out at the beginning of the fourth quarter of 2020 and the upward momentum has continued in December amid a resurgence of lithium iron phosphate (LFP) battery demand in the country.
  • Fastmarkets’ weekly price assessment for lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price range exw domestic China was 48,000-52,000 yuan ($7,349-7,961) per tonne on Thursday December 31, up from 45,000-48,000 yuan per tonne the previous week.

Q4 spodumene concentrate sales
(quarter-on-quarter comparison)
70,609 dmt, up 38% from 43,630 dmt

Dalila Ouerghi

dalila.ouerghi@fastmarkets.com

Published

Dalila Ouerghi

January 06, 2021

17:25 GMT

London