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Lofty Lithium Bid Suggests Scorching Rally May Not Be Over

  • Pilbara Minerals accepts top bid 7% higher than a month ago
  • China lithium carbonate prices relatively stable this quarter

The highest bid for lithium at an auction run by an Australian miner suggests a blistering rally in the battery metal may not be over. 

Pilbara Minerals Ltd. said a buyer will pay a price equating to $7,017 a ton for spodumene concentrate -- a partly-processed form of lithium -- delivered to China. The sale of the 5,000-ton cargo compares with a top bid of $6,586 at the last auction on the miner’s Battery Metal Exchange about a month ago.