Lithium Carbonate and Spodumene Concentrate Price Update
BRISBANE, Australia, April 01, 2022 (GLOBE NEWSWIRE) — Allkem Limited (ASX|TSX: “AKE »the “Company”) provides an update on expected pricing for the June quarter for lithium carbonate and spodumene products.
Strong market conditions continue to have a positive impact on the price received for lithium carbonate from the Olaroz lithium facility. The average price received for the June quarter of FY22 for lithium carbonate is expected to be approximately USD 35,000/t FOB1 on sales of approximately 3,500 tonnes.
The March quarter preliminary sale price for FY22 was approximately USD 27,236/t FOB, 9% higher than previously forecast.
Similarly, strong conditions in the spodumene market are supporting advanced discussions on the price of spodumene concentrate in the June quarter of around US$5,000/t SC6% CIF on sales of around 50,000 tonnes.
Sales of spodumene concentrate in the March quarter were completed at a price of approximately US$2,218/t SC6% CIF DMT, which includes tonnes that were delayed from the December quarter.
March Quarter Report
March quarter sales prices for lithium carbonate and spodumene concentrate are preliminary and indicative. Final prices will be provided in the March quarterly report which will be published on April 14, 2022.
This press release has been authorized by Mr. Martin Perez de Solay, CEO and Managing Director of Allkem Limited.
1 “FOB” (Free On Board) excludes insurance and freight charges included in “CIF” (Cost, Insurance, Freight) pricing. Therefore, prices declared by the Company are net of freight (shipping), insurance and sales commission FOB prices are provided by the Company to clarify the revenue recorded by SDJ, the joint venture in Argentina.
This ASX/TSX Investor Release (To free) contains general information about the Company as of the date of this press release. The information contained in this press release should not be regarded as exhaustive or as including all the elements which a shareholder or a potential investor of the Company may need to determine whether to deal in Allkem Shares. The information contained in this press release is of a general nature only and does not purport to be complete. It should be read in conjunction with the Company’s periodic and continuous disclosure announcements which are available on allkem.co and from the Australian Securities Exchange (ASX), which are available at www.asx.com.au.
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