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Eye on Lithium: Chinese domestic lithium market pricing surged 3.9% in August, nearing all time highs
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- Lithium carbonate prices surged by 3.9% over the period of August 3 – 31 to an average RMB 472,000/tonne
- Benchmark Mineral Intelligence expects spodumene contract pricing to remain stable going into quarter four
- Spanish-focused Infinity Lithium has a new expert executive director, appointing Ramón Jiménez to the board
All your lithium news, Tuesday September 6.
China’s domestic market saw lithium carbonate prices gain sharp momentum towards the end of August as cathode manufacturers looked to restock material following downstream demand for LFP and high voltage NCM 622 cathode technology.
Benchmark Mineral Intelligence says prices surged by 3.9% over the period of August 3 – 31 to an average RMB 472,000/tonne ($68,450) at the end of the month, whilst battery grade lithium carbonate climbed by 3.3% to RMB 487,500/tonne ($70,700) in the same period.
“Activity in the European and North American lithium markets remained low throughout August, under stymied demand from traditional industries, although lithium carbonate pricing remained at relatively stable levels given that tight supply prevented any significant downturn in prices,” the London-based price reporting agency said.
For material out of South America, Benchmark explained in its latest pricing assessment that the lower end held steady at $25,000/tonne under quarterly contract renegotiations, whilst the upper end of pricing ticked up slightly to $69,000/tonne, resulting in an average price of $47,000/tonne (FOB SA), up 2.2% m-o-m.
Spodumene concentrate prices also underwent a slight rise as the upper end for spot volumes increased, in addition to contract pricing containing formulas tied to lithium chemicals prices also seeing a slight uptick at the lower end.
At the lower end of pricing, the price increased to $3,400/tonne, whilst the upper end of the range increased to $6,350/tonne, marked by Pilbara Minerals’ Battery Material Exchange auction price for 5,000 tonnes of SC5.5.
“We anticipate spodumene contract pricing to remain relatively stable going into early Q4 2022,” Benchmark said.
“However, with demand for lithium chemicals rising in the near term, there remains potential for upside on the spot market.”
Here’s how ASX lithium stocks are tracking today:
| CODE | COMPANY | PRICE | % TODAY | % WEEK | % MONTH | MARKET CAP |
|---|---|---|---|---|---|---|
| TYX | Tyranna Res Ltd | 0.0415 | 22% | 43% | 48% | $79,470,263 |
| AOA | Ausmon Resorces | 0.009 | 13% | 13% | 64% | $6,858,315 |
| GL1 | Globallith | 1.88 | 11% | 12% | 20% | $268,200,053 |
| VMC | Venus Metals Cor Ltd | 0.185 | 9% | 12% | -3% | $27,213,376 |
| WCN | White Cliff Min Ltd | 0.025 | 9% | 56% | 117% | $15,032,877 |
| LLL | Leolithiumlimited | 0.6025 | 8% | 16% | 34% | $552,527,871 |
| EVR | Ev Resources Ltd | 0.029 | 7% | -3% | 0% | $25,001,570 |
| AML | Aeon Metals Ltd. | 0.03 | 7% | 0% | 7% | $30,616,062 |
| LPD | Lepidico Ltd | 0.03 | 7% | 11% | 3% | $182,201,355 |
| NMT | Neometals Ltd | 1.4 | 7% | 12% | 9% | $723,573,925 |
| ZNC | Zenith Minerals Ltd | 0.315 | 7% | 2% | 5% | $101,704,872 |
| PNN | Power Minerals Ltd | 0.52 | 6% | 11% | 3% | $30,165,954 |
| DRE | Dreadnought Resources Ltd | 0.1325 | 6% | 26% | 77% | $380,129,194 |
| SYA | Sayona Mining Ltd | 0.27 | 6% | 2% | 29% | $2,116,189,714 |
| LPI | Lithium Pwr Int Ltd | 0.635 | 6% | 11% | 5% | $209,486,909 |
| RAG | Ragnar Metals Ltd | 0.037 | 6% | -16% | -12% | $13,271,471 |
| PLS | Pilbara Min Ltd | 3.91 | 6% | 12% | 36% | $11,031,205,667 |
| LNR | Lanthanein Resources | 0.059 | 5% | 16% | 181% | $53,918,232 |
| CXO | Core Lithium | 1.43 | 5% | 6% | 11% | $2,362,585,684 |
| CY5 | Cygnus Gold Limited | 0.31 | 5% | 11% | 35% | $43,419,668 |
| LTR | Liontown Resources | 1.75 | 5% | 6% | 16% | $3,668,047,035 |
| LRS | Latin Resources Ltd | 0.11 | 5% | 0% | 47% | $204,802,764 |
| AS2 | Askarimetalslimited | 0.335 | 5% | 2% | -3% | $14,422,166 |
| LKE | Lake Resources | 1.15 | 5% | 8% | 24% | $1,528,971,080 |
| RDT | Red Dirt Metals Ltd | 0.595 | 4% | 1% | 35% | $173,596,023 |
| KZR | Kalamazoo Resources | 0.24 | 4% | 0% | 4% | $33,877,706 |
| GLN | Galan Lithium Ltd | 1.225 | 4% | 4% | -9% | $357,869,610 |
| PSC | Prospect Res Ltd | 0.098 | 4% | 1% | -25% | $43,452,389 |
| MRR | Minrex Resources Ltd | 0.049 | 4% | -8% | -17% | $50,595,016 |
| CZL | Cons Zinc Ltd | 0.025 | 4% | 14% | 2% | $9,296,588 |
| IR1 | Irismetals | 1.27 | 4% | 19% | 195% | $74,261,400 |
| INR | Ioneer Ltd | 0.64 | 4% | 2% | -1% | $1,290,352,457 |
| 1MC | Morella Corporation | 0.026 | 4% | 8% | 44% | $144,141,145 |
| AKE | Allkem Limited | 14 | 4% | 2% | 19% | $8,595,630,999 |
| AZL | Arizona Lithium Ltd | 0.084 | 4% | 2% | 4% | $195,203,970 |
| QXR | Qx Resources Limited | 0.028 | 4% | -3% | -15% | $23,202,783 |
| BNR | Bulletin Res Ltd | 0.14 | 4% | 8% | 27% | $39,499,799 |
| GT1 | Greentechnology | 0.715 | 4% | 1% | 2% | $130,121,679 |
| BYH | Bryah Resources Ltd | 0.029 | 4% | 7% | -6% | $7,819,097 |
| CAI | Calidus Resources | 0.58 | 4% | -4% | -25% | $245,157,755 |
| ASN | Anson Resources Ltd | 0.295 | 4% | 4% | 119% | $293,000,264 |
| OCN | Oceanalithiumlimited | 0.6 | 3% | -3% | 33% | $19,444,500 |
| RGL | Riversgold | 0.035 | 3% | 6% | 17% | $26,356,458 |
| LIS | Lisenergylimited | 0.58 | 3% | 5% | -25% | $93,741,516 |
| VUL | Vulcan Energy | 7.86 | 3% | 1% | -1% | $1,097,948,406 |
| AGY | Argosy Minerals Ltd | 0.415 | 2% | 12% | 6% | $553,170,768 |
| EUR | European Lithium Ltd | 0.083 | 2% | 2% | -6% | $113,419,373 |
| CRR | Critical Resources | 0.042 | 2% | -2% | -9% | $61,008,625 |
| RAS | Ragusa Minerals Ltd | 0.235 | 2% | -4% | 180% | $29,588,136 |
| ARN | Aldoro Resources | 0.25 | 2% | 2% | 25% | $24,398,893 |
| MLS | Metals Australia | 0.051 | 2% | -6% | -16% | $30,351,810 |
| IGO | IGO Limited | 12.97 | 2% | 2% | 12% | $9,632,446,581 |
| ESS | Essential Metals Ltd | 0.47 | 1% | 16% | -4% | $115,079,332 |
| LEL | Lithenergy | 0.98 | 1% | 0% | -1% | $43,795,500 |
| CHR | Charger Metals | 0.49 | 1% | 5% | -3% | $15,801,802 |
| JRL | Jindalee Resources | 2.54 | 1% | 0% | -3% | $144,594,994 |
| MIN | Mineral Resources. | 60.35 | 1% | -6% | 5% | $11,352,693,602 |
| PLL | Piedmont Lithium Inc | 0.865 | 1% | 0% | 31% | $453,710,888 |
| WES | Wesfarmers Limited | 46.51 | 0% | -2% | -2% | $52,598,848,826 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | $2,752,409,203 |
| EMH | European Metals Hldg | 0.72 | 0% | -1% | -9% | $86,211,701 |
| QPM | Queensland Pacific | 0.145 | 0% | 0% | -3% | $226,723,904 |
| RLC | Reedy Lagoon Corp. | 0.016 | 0% | 7% | 0% | $8,918,831 |
| TKL | Traka Resources | 0.007 | 0% | 0% | 0% | $4,821,422 |
| TON | Triton Min Ltd | 0.028 | 0% | 8% | -3% | $35,245,957 |
| BMM | Balkanminingandmin | 0.185 | 0% | -8% | -8% | $6,058,750 |
| PAM | Pan Asia Metals | 0.435 | 0% | -9% | 12% | $32,155,305 |
| DTM | Dart Mining NL | 0.11 | 0% | -12% | 41% | $14,878,618 |
| EMS | Eastern Metals | 0.11 | 0% | -15% | -29% | $4,252,188 |
| FG1 | Flynngold | 0.095 | 0% | -10% | -1% | $6,085,800 |
| GSM | Golden State Mining | 0.054 | 0% | -13% | 10% | $6,318,767 |
| LRV | Larvottoresources | 0.225 | 0% | -2% | 0% | $9,344,813 |
| MMC | Mitremining | 0.13 | 0% | 0% | 13% | $3,521,063 |
| SHH | Shree Minerals Ltd | 0.009 | 0% | 13% | 13% | $11,146,382 |
| TEM | Tempest Minerals | 0.039 | 0% | 8% | -17% | $19,685,881 |
| TSC | Twenty Seven Co. Ltd | 0.002 | 0% | 14% | -5% | $5,321,628 |
| WML | Woomera Mining Ltd | 0.016 | 0% | 14% | 0% | $10,989,329 |
| KGD | Kula Gold Limited | 0.023 | 0% | 5% | -17% | $4,949,040 |
| SCN | Scorpion Minerals | 0.079 | 0% | -2% | 25% | $26,214,664 |
| AZI | Altamin Limited | 0.095 | 0% | 17% | 6% | $37,213,091 |
| ENT | Enterprise Metals | 0.009 | 0% | -10% | -10% | $5,876,826 |
| KAI | Kairos Minerals Ltd | 0.028 | 0% | 4% | -7% | $54,994,618 |
| AVW | Avira Resources Ltd | 0.004 | 0% | 0% | 0% | $8,475,160 |
| RMX | Red Mount Min Ltd | 0.007 | 0% | 0% | 17% | $11,496,547 |
| A8G | Australasian Metals | 0.27 | 0% | -7% | 10% | $11,116,033 |
| SRZ | Stellar Resources | 0.016 | 0% | 14% | -6% | $15,443,162 |
| LSR | Lodestar Minerals | 0.007 | 0% | 0% | -13% | $12,169,061 |
| VKA | Viking Mines Ltd | 0.008 | 0% | 0% | 14% | $8,202,067 |
| IPT | Impact Minerals | 0.0075 | 0% | -6% | -6% | $18,610,279 |
| SRI | Sipa Resources Ltd | 0.047 | 0% | 15% | 4% | $9,636,166 |
| G88 | Golden Mile Res Ltd | 0.034 | 0% | 0% | 21% | $6,926,909 |
| EPM | Eclipse Metals | 0.023 | 0% | 0% | -4% | $44,185,907 |
| WC8 | Wildcat Resources | 0.027 | 0% | -4% | 17% | $17,422,364 |
| THR | Thor Mining PLC | 0.01 | 0% | 11% | 0% | $10,755,644 |
| MXR | Maximus Resources | 0.054 | 0% | 17% | 4% | $17,220,911 |
| MM1 | Midasmineralsltd | 0.205 | 0% | -11% | 11% | $11,712,012 |
| M2R | Miramar | 0.115 | 0% | -8% | 15% | $7,381,466 |
| AOU | Auroch Minerals Ltd | 0.065 | 0% | -2% | 7% | $24,122,267 |
| MMG | Monger Gold Ltd | 0.36 | 0% | -6% | 50% | $14,414,400 |
| LRD | Lordresourceslimited | 0.185 | 0% | 0% | -8% | $6,157,655 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | 0% | 0% | $74,238,031 |
| ZEO | Zeotech Limited | 0.052 | 0% | -7% | -16% | $81,219,604 |
| ALY | Alchemy Resource Ltd | 0.022 | 0% | 10% | 38% | $20,967,629 |
| KTA | Krakatoa Resources | 0.06 | 0% | -5% | 22% | $20,682,595 |
| DAF | Discovery Alaska Ltd | 0.078 | 0% | -5% | 100% | $17,490,306 |
| DAL | Dalaroometalsltd | 0.1 | 0% | 0% | -9% | $2,987,500 |
| TKM | Trek Metals Ltd | 0.07 | 0% | -7% | 0% | $21,742,711 |
| TUL | Tulla Resources | 0.495 | 0% | -3% | -8% | $79,307,352 |
| RIO | Rio Tinto Limited | 90.94 | -1% | -6% | -7% | $34,066,511,959 |
| FTL | Firetail Resources | 0.245 | -2% | -13% | 2% | $15,445,625 |
| STM | Sunstone Metals Ltd | 0.044 | -2% | 2% | -2% | $116,840,089 |
| IMI | Infinitymining | 0.2 | -2% | 0% | 54% | $11,787,500 |
| INF | Infinity Lithium | 0.18 | -3% | 16% | 29% | $76,777,417 |
| AAJ | Aruma Resources Ltd | 0.065 | -3% | -3% | -4% | $10,516,421 |
| NWM | Norwest Minerals | 0.061 | -3% | 22% | 36% | $11,378,265 |
| NVA | Nova Minerals Ltd | 0.9 | -3% | 4% | 1% | $167,588,125 |
| MNS | Magnis Energy Tech | 0.4925 | -3% | 11% | 33% | $494,869,056 |
| EFE | Eastern Resources | 0.028 | -3% | -7% | 0% | $29,195,190 |
| LIT | Lithium Australia | 0.0645 | -4% | -22% | -17% | $69,372,425 |
| WR1 | Winsome Resources | 0.255 | -4% | 6% | 0% | $35,805,208 |
| AM7 | Arcadia Minerals | 0.25 | -4% | -2% | 85% | $12,141,452 |
| MQR | Marquee Resource Ltd | 0.069 | -4% | -5% | -13% | $22,724,466 |
| AUN | Aurumin | 0.11 | -4% | -4% | -27% | $14,410,321 |
| FRS | Forrestaniaresources | 0.185 | -5% | 6% | 32% | $6,505,454 |
| PGD | Peregrine Gold | 0.68 | -6% | -5% | -7% | $27,879,520 |
| XTC | Xantippe Res Ltd | 0.0085 | -6% | -6% | 6% | $73,131,612 |
| TMB | Tambourahmetals | 0.145 | -6% | -6% | -17% | $6,384,853 |
| ADV | Ardiden Ltd | 0.007 | -7% | -13% | -13% | $20,012,515 |
| GW1 | Greenwing Resources | 0.27 | -7% | 2% | 8% | $35,741,731 |
| MTM | Mtmongerresources | 0.13 | -7% | -10% | 24% | $5,251,405 |
| AX8 | Accelerate Resources | 0.035 | -8% | -3% | -3% | $10,277,438 |
59 ASX lithium stocks finished in the green, 50 fell flat and 23 ended in the red zone.
Lithium stocks rallied across the board reportedly driven by broker upgrades out of Jefferies.
Who’s got news out?
INFINITY LITHIUM (ASX:INF)
Ramón Jiménez has been appointed to Infinity Lithium’s board as executive director, as part of the company’s broader plans in bringing the San José Lithium Project into fruition.
Ramón was appointed as CEO of INF’s wholly owned Spanish subsidiary Extremadura New Energies in Q1 2022 and has shown “exceptional leadership and commitment to the project,” chairman Adrian Byass says.
In recent months, the company says it has made great strides in gaining the acceptance terms of local and regional representatives of the community, as demonstrated by the approval of the Regional Lithium Decree Law to incorporate downstream lithium mineral processing in the Spanish region.
The company’s move to an underground mineral extraction project, alignment of the project to the vast renewable energy potential in Cáceres and the adoption of the sulphate roast conversion process, are all in direct response to local stakeholder engagement.
GREENVALE ENERGY (ASX:GRV)
Greenvale has been awarded two exploration permits (EPM) in north western Queensland, paving the way for the start of exploration in its hunt for a full suite of critical minerals including lithium, tellurium, silver, and other rare earth elements.
The EPM 28487 (Julia Creek) allows the company to investigate the Millungera Basin’s mineral potential while the EPM28488 (Longreach) will be explored for geothermal energy.
GLOBAL LITHIUM RESOURCES (ASX:GL1)
A third reverse circulation (RC) has mobilised to the Manna Lithium Project, about 100km east of Kalgoorlie, Western Australia, ready to undertake an infill program alongside an ongoing 20,000m RC and 4,000m drilling program.
Western Australian-based contractor K-Drill has been engaged to undertake the program, designed to elevate the classification of the current JORC resource which hosts a maiden inferred resource of 9.9Mt at 1.14% lithium oxide.
The company anticipates a mineral resource update to follow the drilling program along with additional metallurgical test work in Q4 2022.
“Drilling at the Manna Lithium Project has now surpassed the amount of historic drilling performed previously,” GL1 global head of geology Stuart Peterson says.
“With the addition of the second RC rig from K-Drill, along with the double shifting diamond rig, the geological information flow from the Manna Lithium Project is the highest it’s ever been.
“This will allow the company to pull from a large database of drilling information to build the upgraded resource from in December.”
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