Pilbara’s lithium auction eases off record price

Pilbara Minerals has accepted a slim 2.5 per cent discount in its latest auction of lithium spodumene concentrate from the record price struck in June, a sign the boom in lithium prices in anticipation that mass adoption of electric vehicles may be levelling off for now.

Pilbara, whose shares have traded steadily lower in recent months as analysts have begun to question the sustainability of the runaway boom in prices for the key ingredient for electric vehicle and home batteries, said it had accepted a highest bid of $US6188 for its latest auction of 5000 dry tonnes of 5.5 per cent lithium spodumene concentrate.