Chinese lithium plunge has created huge discount to US prices

Shares of Piedmont soared 15.4% by market close Wednesday.

“They’ll need to raise another C$300 million before the larger, second stage is built,” industry blogger Mark Turner wrote.

The platform will be open to consumers, producers and merchants that are directly involved in the physical market.

There is some optimism in the market ahead of the release of minutes from the Fed's December meeting later in the day, says analyst.

Surging covid cases in China after the easing of restrictions have reinforced worries about demand.

China imposed restrictions on Australian commodities including coal and wine just over two years ago.

Depending on the direction for the dollar resulting from the Fed's actions, gold is likely to fall in range between $1,620/oz $1,920/oz.

China's manufacturing sector activity contracted at a sharper pace in December as surging infections disrupted production.

The US currency's climb to 20-year peaks this year eroded demand for dollar-priced bullion.