SYDNEY, Jan 28, 2026, 16:54 AEDT — Trading after hours.
- Shares of PLS Group slipped roughly 1%, losing ground late amid a pullback in lithium-related sentiment
- China’s lithium carbonate futures took a sharp turn downward, even as Australia’s CPI boosted expectations for rate hikes
- PLS is set to release its interim report in February, marking the next major catalyst on the calendar
PLS Group Limited shares slipped 1% on Wednesday, ending the day at A$4.91 after fluctuating between A$4.89 and A$5.03. The previous session saw the stock dip 2.4%. (StockAnalysis)
The pullback unfolded as Chinese lithium carbonate futures, a key indicator for battery chemical prices, swung sharply during Asian trading. Market Index reported the main contract jumped 4.8% early on to nearly 177,000 yuan a tonne before sliding 2.5% to about 168,620; meanwhile, PLS slipped roughly 1.7% by mid-afternoon, even as Liontown Resources and Mineral Resources edged up slightly. (Market Index)
Spot prices in China dipped as well. According to Shanghai Metals Market, battery-grade lithium carbonate averaged 172,500 yuan per tonne on Jan. 27, falling 9,000 yuan from the previous trading day. Buyers were reportedly buying mostly on an as-needed basis ahead of February stockpiling. (Metal News)
Futures allow traders to wager on commodity prices before delivery. For Australian lithium miners, sudden shifts in China’s lithium market can quickly ripple through their stock prices, even without any fresh company updates.
PLS Group, which used to be known as Pilbara Minerals, operates the Pilgangoora project in Western Australia’s Pilbara region and is headquartered in West Perth, according to its company profile. The ASX code changes list confirms the name switch happened in early December, but the ticker remains PLS. (Investing)
The key question for the next session is if the China futures rally will develop into a sustained trend. Lithium stocks have been behaving like high-beta plays on the commodity—minor fluctuations in the chemical market often spark larger swings in mining shares.
But there’s a risk. Should the lithium rally lose steam — or if liquidity dries up around the lunar new year, making price signals erratic — the sector could tumble on sentiment alone, with fundamentals struggling to keep pace.
Traders are watching China’s lithium contracts closely while also weighing Australian rate expectations following the CPI surprise. The next major company event is PLS Group’s interim report, scheduled for Feb. 19, according to Market Index data. (Market Index)
