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Old 08-06-2012, 01:24 PM
Sparty Sparty is offline
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Default Galaxy notes lithium carbonate price rises in china

GALAXY NOTES LITHIUM CARBONATE PRICE RISES IN CHINA
Highlights
 Prices rise on tight demand and supply fundamentals
 Spot prices in China of up to US$7,000/tonne for battery grade product
 Battery and technical grade prices in China have risen around 17% in the last 12 months
 Follows two consecutive lithium product price hikes by major producers
 Jiangsu ramp-up timing ideal to take advantage of continuing strong lithium market and prices

Lithium producer Galaxy Resources Ltd (ASX: GXY) (?Galaxy? or ?the Company?) says prices for both technical and battery grade lithium carbonate in its key market, China, have risen significantly on the back of tight demand and supply fundamentals, with current prices up almost 17% on the same time last year.

Chinese lithium carbonate producers have lifted domestic lithium carbonate prices, and the uncontracted spot price for battery grade lithium carbonate in China has hit levels of up to RMB 45,000/tonne, or approximately US$7,000/tonne, in recent months. The Company also reports that technical grade lithium carbonate prices have followed the same trend with
uncontracted spot prices up to RMB 40,000/tonne or approximately US$6,250/tonne.

Lithium market watcher, Asia Metal Pty Ltd, said in a recent note that the, ?mainstream price of battery grade lithium carbonate rose to about RMB 42,000-44,000/tonne (US$6,650-6,960/tonne) and for small orders, many suppliers have sold at prices as high as RMB 45,000/tonne (US$7,120/tonne).?
The following graph shows battery grade lithium carbonate prices in China tracked by Asian Metal Ltd in the last 12 months, demonstrating a 17% increase in prices on the same time last year.

 

Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice.

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