• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

Lithium stocks fall as prices ease for the first time in 6 months

3 years ago
in Features, highlights, Home, home-news, latest News, Markets, Mining
2 min read
0 0
0
65
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Lithium stocks fall as prices ease for the first time in 6 months

Shares of lithium producers and explorers slumped on Thursday after a closely watched auction by Pilbara Minerals showed a rare decline in prices of lithium spodumene concentrate.

Pilbara Minerals (ASX:PLS) announced its average monthly auction in December achieved a price of $7,552 per dry metric tonne (5.5% spodumene concentrate on a Port Hedland FOB basis), down from $7,805 a month earlier.  The price for the 10,000 tonne cargo equates to $8,299 per tonne on a 6% concentrate (CIF, China)  basis with deliveries expected from late January 2023.

Pilbara Minerals, which wholly-owns the Pilgangoora mine in Western Australia, was the biggest loser, shedding 11.4% for a market capitalisation of just over A$12 billion ($8.1bn).

Mineral Resources (ASX:MIN), the most valuable lithium share in Sydney with a market worth of A$15.6 billion, gave up 4.7%, Allkem (ASX:AKE) declined just under 5% while IGO (ASX:IGO) fell 4.3%. Smaller Australian players Liontown Resources (ASX:LTR, Core Lithium (ASX:CSO) and Sayona Mining (ASX:SYA) dropped 7.9%, 9.4% and 6.3%, respectively.

The weakness spilled over to North American markets with SQM (NYSE:SQM), the world’s number two producer of the battery metal, giving up 5.1% in afternoon trade in New York, affording the Chilean giant a $24.7 billion market cap. SQM investors are still enjoying a 70% run up in the stock in 2022.

Albemarle (NYSE:ALB), the world’s top lithium miner by output with a market value of $28.2 billion, was left relatively unscathed with a 2.7% decline amid general market weakness on US markets. The biggest loser in New York was Sigma Lithium (NASDAQ:SGML) which fell 6.3%, although punters who picked up the stock at the beginning of the year can point to gains of 185% in 2022.

Chinese chemical prices fall for first time since May

Benchmark Mineral Intelligence said on Wednesday Chinese lithium prices fell for the first time since May as uncertainty grows about demand in the world’s second-largest economy following the easing of covid-19 restrictions and the looming end of electric vehicle subsidies.

Lithium prices have defied predictions of a sharp pullback, however, and ex-works Chinese battery grade lithium hydroxide is still up 170% year-to-date averaging $81,000 a tonne during the first two weeks of December, according to Benchmark. Lithium carbonate prices have followed a similar trajectory, according to the London-headquartered battery supply chain and pricing specialists.

Benchmark data show spodumene prices up 257% this year averaging some $5,900 a tonne for 6% concentrate FOB Australia in November.  Benchmark commented that spodumene contract pricing mechanisms tied to the lithium chemicals spot market had been successfully renegotiated, allowing for a shorter lag time for pricing movements in the chemicals market to be reflected in spodumene pricing.

Source: mining.com
Via: norvanreports
Tags: Lithium stocks fall as prices ease for the first time in 6 months
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.