Australian SpodCon shipments finally break out
After going sideways for much of the past 12 months, Australian spodumene concentrate exports finally broke out of their range in June when exports from Port Hedland (Pilgangoora) and Bunbury (Greenbushes) spiked up. The shipments/inventory ratio for WA hard rock also picked up, suggesting a material change in the relationship between demand and supply. There is a noticeable differentiation between realised prices for material by operation, with Pilgangoora leading the way in terms of price realisations. On average it is achieving over US$4000/t FOB, while other operations are achieving c.US$2000/t FOB for material. While lower grades are responsible for some...