New York, Feb 11, 2026, 12:52 PM EST — Regular session
- Albemarle up about 3% and SQM up nearly 6% in midday New York trade
- China spot lithium carbonate prices rose again, extending this week’s rebound
- Traders are positioning for Albemarle results after the close and fresh guidance
U.S.-listed lithium producers rose on Wednesday as firmer China pricing pulled buyers back into a sector still trying to prove a recovery can stick. Albemarle climbed 3.2% to $174.02 and Chile’s SQM gained 5.8% to $74.36, while Sigma Lithium jumped 13.2% to $13.12. Lithium Americas slipped 1.5% to $4.67.
The moves matter because lithium prices drove much of the earnings pain across the industry over the past two years, forcing miners to curb spending and slow projects. Any sign that spot prices are firming again tends to hit equities fast, even before it shows up in contract sales.
There’s also timing. Investors are looking for hard numbers in the next round of results — whether higher spot pricing is filtering into realised prices (what producers actually book in sales) and whether executives now talk less about cuts and more about volumes.
In China, the battery-grade lithium carbonate index rose to 138,483 yuan a metric ton on Wednesday, with battery-grade material quoted at 134,000-142,000 yuan, Shanghai Metals Market data showed. SMM said the most-traded lithium carbonate futures contract pushed higher, but physical inquiries and deals stayed sluggish as downstream buyers finished February stockpiling and logistics slowed. (Metal News)
The same index was 134,406 yuan a ton on Tuesday, implying a roughly 3% day-on-day rise, SMM figures showed. (Metal News)
Some producers are also leaning into contract structures designed for a volatile tape. Australia’s PLS Group has struck a new offtake deal — a supply contract — with China’s Canmax Technologies that sets a floor price of US$1,000 a ton for spodumene concentrate, a lithium-rich ore product that is processed into battery chemicals. The deal includes a US$100 million interest-free prepayment, PLS said. “The US$100M interest-free prepayment and floor price structure demonstrate strong commercial confidence in our product,” chief executive Dale Henderson said. (PLS)
Floor prices are not standard in the lithium supply chain and they cut both ways. They can protect miners’ cash flow if prices roll over again, but they also underline how hard it has been for the market to settle on a “normal” price after the slump.
The next near-term catalyst is Albemarle’s quarterly report, due after the New York Stock Exchange closes on Wednesday, followed by a Thursday morning conference call, the company has said. Guidance on pricing, costs and capital spending will likely do more for the group than another small move in spot indices. (Albemarle)
But the physical market can still turn on thin liquidity. If buying fades after restocking and producers keep nudging supply back into the chain, the recent price lift could stall quickly — and lithium equities have a habit of overshooting in both directions.
For the rest of the week, traders will watch whether Chinese spot prices hold in the latest range and whether producers’ commentary finally matches the market’s optimism. Albemarle’s results after Wednesday’s close and the Feb. 12 call are the next hard test for lithium stocks going into next week.
