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.
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. Reuters
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.
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.
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