Spodumene is a lithium bearing mineral found in hard rock pegmatite deposits. Mines crush and concentrate the ore into spodumene concentrate, which is sold by its lithium oxide (Li2O) content.
The reference product is SC6, a concentrate containing about 6% Li2O. Concentrates of other grades are usually priced from that reference and adjusted for their actual lithium content. The USGS reports that spodumene (6% lithium oxide) prices in Australia, free on board, rose from about $800 a ton in January 2025 to about $970 in November 2025.
Most concentrate is shipped to chemical converters, largely in China, which refine it into lithium hydroxide or lithium carbonate for battery cathodes. Australia was the largest lithium producer in 2025, with an estimated 92,000 tons of lithium content of a world total of about 290,000, and batteries account for an estimated 88% of global lithium use, according to the USGS.
Prices have moved sharply: the USGS records the annual average US contract price of battery grade lithium carbonate at $63,700 a ton in 2022 and $9,000 in 2025. A good offer therefore sets out clearly how the price is fixed and when.
What buyers check
- Li2O content, and how and where it is assayed.
- Iron oxide and other impurities.
- Moisture and particle size.
- The pricing basis: fixed, or linked to a published reference.
- The delivery basis, laycan and payment terms.