Australian lithium mining company IGO announced changes to the long-term off-take pricing model for the world's largest lithium mine, Greenbushes, owned by the company, Tianqi Lithium, and Albemarle. The new settlement method will use the average lithium salt price of the previous month of shipment, with a 5% discount, compared to the previous method of using the average lithium salt price of the previous quarter. The production guidance for FY24 lithium spodumene concentrate has also been lowered. This change reflects the current trend of lowering prices in the lithium mining industry, as prices for lithium spodumene concentrate have been declining. Various mining companies are focusing on reducing production costs, and if the prices continue to drop, there is still room for further decline in the import price of lithium spodumene concentrate.
New insights from Superhero show the total trading volume of the top five most-traded ETFs on Superhero overshadowing that of both the top 10 listed companies in Australia and the US.
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The gold giant’s addition to the Australian Stock Exchange is expected to see a major reshuffle of the indices and $746 million worth of trading at the quarterly rebalance.