PLS drops as lithium rally stoked by China supply fears
PLS Group Ltd. dropped Wednesday as a new round of selling hit Australian lithium stocks. Traders tracked news that China’s CATL cleared a major hurdle to restart a battery metals mine. PLS ended at A$4.70, off 3.29%. Core Lithium slid 12.1% and Liontown lost 4.25%. The S&P/ASX 200 was down 0.21% at 8,785.10. Timing is key here. PLS, which used to be Pilbara Minerals, stands out on the ASX as a straight lithium price play. But now the market is starting to ask if the latest run-up in battery metal prices has already tempted too much supply back onto the market.