Sydney, January 10, 2026, 16:51 AEDT — Market closed
- PLS Group ended Friday down 3.1% at A$4.65 after touching A$4.89 a day earlier. (StockAnalysis)
- Spot spodumene prices shipped into China rose to an average $1,950 a tonne on Jan. 9, Shanghai Metals Market data showed. (Metal)
PLS Group Limited (PLS.AX) shares closed down 3.1% at A$4.65 on Friday, backing away from a 52-week top of A$4.89 hit a session earlier. They traded between A$4.61 and A$4.80 on the day, with about 24.35 million shares changing hands, according to market data. (Investing.com Australia)
That pullback matters now because the stock is one of Australia’s cleanest lithium proxies, and the pricing tape in China has been moving fast again. Platts assessed battery‑grade lithium carbonate — a key battery chemical — at 141,000 yuan a metric ton delivered, duty‑paid in China on Jan. 9, up about 20% from Dec. 31, S&P Global Commodity Insights said. (S&P Global)
China’s futures flows are part of the backdrop. Open interest has climbed and investors have poured money into commodities, with “significant macro allocation flows into commodities,” said Jia Zheng, head of trading at Shanghai Soochow Jiuying Investment Management, according to The Straits Times. (The Straits Times)
But the same flow can flip. “Easy profits won’t come simply by holding positions – and the risks are increasing,” said Chi Kai, chief investment officer at Shanghai Cosine Capital Management Partnership, after sharp rallies that have pushed exchanges to tighten trading conditions. (The Straits Times)
For PLS, the next company marker is close. The miner told investors in a Dec. 22 exchange notice it plans to release its December‑quarter activities report on Friday, Jan. 30, followed by a webcast and call at 7:00 a.m. AWST (10:00 a.m. AEDT).
PLS, formerly known as Pilbara Minerals, runs the Pilgangoora hard‑rock lithium operation in Western Australia and holds the Colina lithium project in Brazil. It is also tied into downstream processing via a joint venture with South Korea’s POSCO producing battery‑grade lithium hydroxide, its company profile shows. (Reuters)
Spot spodumene concentrate — the lithium‑rich ore shipped to make battery chemicals — is also firmer. Shanghai Metals Market’s assessment for Australian spot spodumene concentrate delivered to Chinese ports (CIF, or cost‑insurance‑freight) averaged $1,950 a metric ton on Jan. 9, up 6.85% on the day. (Metal)
Technically, traders will keep one eye on whether the stock holds above Friday’s A$4.61 low, and another on whether it can reclaim A$4.89 — the top of the current 52‑week range. The next hard catalyst is the Jan. 30 quarterly report and briefing, with investors primed for sales volumes, realised prices and any change in tone on costs and demand.
