March 14 (Reuters) - Australia's Pilbara Minerals ( PILBF )

said on Thursday it has accepted a pre-auction offer

for a shipment of 5,000 dry metric tonnes (dmt) of lithium

spodumene concentrate cargo from a group of registered

participants for the auction.

The shipment was made separately available for sale to the

participants prior to the auction on the Battery Metal Exchange,

which is scheduled for March 18.

The lithium miner indicated that it received a number of

offers prior to the auction and has accepted one and executed a

sales contract with the buyer, whose name it did not disclose.

The lithium market has now been

stabilizing

after prices plunged more than 70% in 2023 on slowing EV

sales growth, as well as higher production and over-supply of

the metal, with firms forced to cut output and announce

impairments.

The offer prices the shipment at $1,200 per dmt on a SC6.0

CIF China equivalent basis after adjusting for lithium content

and including freight costs, Pilbara said.

"Since the company's forecast production volume for calendar

year 2024 is now largely allocated, regular future spot sales

via BMX during 2024 are unlikely," the company added.

The shipment is contracted for the December quarter as the

firm already has existing offtake agreements with other parties.

Earlier in the week, Pilbara announced it had inked a

spodumene concentrate supply deal with Tesla supplier

Sichuan Yahua Industrial Group, to be delivered from

Pilbara's Pilgangoora operation in Western Australia.