Sydney, Jan 22, 2026, 17:02 AEDT — Market closed
- PLS Group climbed 1.8% to A$5.04, pushing its winning streak into a second day
- China’s lithium carbonate futures jumped 3%, boosting ASX lithium stocks
- Attention shifts to PLS’ December quarter activities report, set for release on Jan 30
PLS Group Limited shares ended Thursday above A$5, rising 1.8% to close at A$5.04 after moving between A$4.97 and A$5.07 during the session. Roughly 19.5 million shares were traded. The stock has gained around 17% year-to-date on daily closes. 1
Traders are zeroing in on China’s lithium price moves as a fast barometer for battery-material shares. Lithium carbonate futures climbed 3% to 169,480 yuan a tonne during daytime trading, still roughly 2.6% shy of a recent peak. Alongside this, PLS gained ground with Liontown Resources and IGO, data from MarketIndex shows. 2
Investors are gearing up for a key event next week. PLS is set to unveil its December 2025 sales and revenue update on Jan 30, followed by a briefing call, per its events calendar. 3
Lithium prices surged again, building on recent policy-driven volatility that’s stirred the market. Earlier this month, China’s most-active lithium carbonate contract hit its daily 9% limit after Beijing announced it would scrap value-added tax export rebates on battery products starting in April, according to a Reuters report. 4
Grid battery storage demand is drawing attention once again. Jinyi Su, an analyst at consultancy Fubao, described energy storage as a potential “game changer” for lithium. However, Su cautioned that prices might surge too high, risking the economics of projects. 5
PLS Group, previously known as Pilbara Minerals, produces lithium materials primarily from its hard-rock mine at Pilgangoora, Western Australia, according to Reuters company data. The firm is also developing a project in Brazil. Additionally, it runs a joint venture with South Korea’s POSCO to manufacture battery-grade lithium hydroxide. 6
The stock’s short-term moves remain tied to Chinese futures and monthly spot talk, rather than any boardroom developments. Buyers step in when Chinese contracts climb, only to vanish as soon as the curve flips downward.
That said, the risks run both ways. Any dip in Chinese lithium futures, a surge of new supply, or weaker battery orders could swiftly weigh on earnings forecasts for miners shipping concentrate to Asia. If the January 30 update reveals realised prices trailing futures gains or rising costs, the shares might surrender recent advances.
Before markets open on Friday, investors will be eyeing whether the Guangzhou contract stays close to 170,000 yuan a tonne and if the rally extends beyond just a few lithium stocks on the ASX.
PLS will face its next major test on Jan 30, releasing December-quarter production and sales figures, followed by a call to discuss the details with investors.
