Sydney, January 7, 2026, 16:56 AEDT — Market closed
- PLS ended down 0.2% at A$4.83 after touching a 52-week high of A$4.89
- The company sought quotation for 1,269 new shares and lodged director interest notices
- Focus now turns to the late-January activities report as lithium sentiment improves
PLS Group Limited stock (ASX:PLS) eased 0.2% to A$4.83 on Wednesday after touching a 52-week high of A$4.89, tracking a stronger run in Australian lithium names such as Liontown and Core Lithium. The stock traded between A$4.68 and A$4.89, and now sits at the top end of its 52-week range of A$1.07 to A$4.89. 1
The move comes as investors recalibrate around a firmer lithium outlook after a long slide driven by oversupply, with energy storage demand emerging as a key swing factor. A calculation based on UBS data showed energy storage demand for lithium jumped 71% in 2025 and is forecast to rise another 55% in 2026, while lithium carbonate prices in China climbed sharply off mid-year lows. “Rapid growth in lithium demand from energy storage in the second half of 2025 has surpassed expectations,” said Jinyi Su, an analyst at consultancy Fubao. 2
In company disclosures, PLS applied for ASX quotation — meaning the shares can trade on the exchange — of 1,269 ordinary shares issued through the conversion of employee share rights under its award plan, a filing showed. Separate notices showed newly appointed director Robert Nicholson held no PLS securities at appointment, while outgoing director Stephen John Scudamore reported a direct holding of 83,785 shares when he ceased on Dec. 31. 3
But commodity-linked rallies can unwind fast. Any pullback in lithium prices, or a shift in buying by battery makers, would likely test recent gains in miners’ share prices, including PLS.
