Welcome to the October 2017 edition of the lithium miner news. This month we have now seen car companies signing off-take agreements directly with lithium miners to secure lithium supply with the Great Wall Motors (OTCPK:GWLLF) (OTCPK:GWLLY) deal with Pilbara Minerals. This marks a new stage where the car manufacturers are starting to realize the need to lock in their EV metals supply well in advance.
It was another great month for lithium stocks. I first wrote "Lithium Miners Are Booming As Lithium Spot Prices Rise - Which Lithium Companies Should I Buy?" Back then, if you were an early follower of mine, you could have bought SQM for $US19.99, FMC for US$38.16, and Albemarle for US$64.50. Now that was great buying! But don't worry if you have not bought yet, we are still in the first stage of the EV boom with EV market share globally only at ~1%.
Lithium spot and contract price news
During October, 99.5% lithium carbonate China spot prices were up 1.5%, and are up 23% over the past year. Of note, lithium cobalt oxide China spot prices were up 0.33% for the month, and 16.91% over the past year. Of interest, China lithium carbonate prices have risen above lithium hydroxide prices.