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High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":818,"relatedVideos":819},112469163975777,"b07e7030-2366-4df6-92f4-27a72358f297","Battery mineral price correction heightens scrutiny on pricing mechanisms","battery-mineral-price-correction-heightens-scrutiny-on-pricing-mechanisms","article/battery-mineral-price-correction-heightens-scrutiny-on-pricing-mechanisms",{"_uid":547,"date":548,"tags":549,"editor":558,"content":568,"excerpt":788,"featured":51,"reporter":789,"_editable":793,"component":794,"seo_title":543,"categories":795,"visibility":811,"author_company":49,"featured_image":812,"seo_description":788,"author_full_name":49,"author_job_title":49,"formattedDate":816,"formattedArticleDate":817},"d9ca7d34-63be-4c5e-8c4c-ab10cf811f41","2024-08-13 00:00",[550,553,556],{"slug":551,"name":552},"benchmark-mineral-intelligence","Benchmark Mineral Intelligence",{"slug":554,"name":555},"lithium-prices","Lithium prices",{"slug":557,"name":557},"prices",[559],{"slug":560,"name":561,"content":562},"didi-bostock","Didi Bostock",{"job_title":563,"image":564,"bio":566,"linkedin":567},"Editor - Energy Transition & Economics",{"filename":565},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":569,"content":570},"doc",[571,578,601,610,615,628,635,648,653,658,663,668,681,686,691,698,703,708,715,720,725,732,737,742,749,754,766,774,781],{"type":572,"attrs":573,"content":574},"paragraph",{"textAlign":49},[575],{"text":576,"type":577},"A steep decline in battery raw material prices has thrown supply contract pricing mechanisms into sharp focus, highlighting the pressing need for more effective tools to manage price risk and limit volatility.","text",{"type":572,"attrs":579,"content":580},{"textAlign":49},[581,583,591,593,599],{"text":582,"type":577},"Critical raw material prices have experienced a sweeping correction since early 2023, plummeting from ",{"text":584,"type":577,"marks":585},"record highs",[586],{"type":587,"attrs":588},"link",{"href":589,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/lithium-prices-hit-record-high-as-market-pricing-takes-hold-2022-in-review","url",{"text":592,"type":577}," to near-",{"text":594,"type":577,"marks":595},"historical lows",[596],{"type":587,"attrs":597},{"href":598,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/cobalt-sulphate-prices-sink-to-seven-year-low-in-june",{"text":600,"type":577}," across many markets.",{"type":572,"attrs":602,"content":603},{"textAlign":49},[604],{"type":605,"attrs":606},"image",{"id":49,"alt":607,"src":608,"title":49,"source":49,"copyright":49,"meta_data":609},"","https://lh7-rt.googleusercontent.com/docsz/AD_4nXf-7v46JCN3Y5Cs8oMQqYG7Zk72VVav3rSmc0wN97XMgX0YFvcgN0j7izSzlGBFut3nnjhVbhkzahAFOsqjRz5rMdZ3jbuMBCl_SKw0U8snmgP96yiHHDyI28DIrk1T-9QtZypnTQpq2BqICQrBdgDs7ssj?key=0PMrY2V8STKblxlFnmQdyA",{},{"type":572,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":577},"Lithium has experienced the sharpest volatility, with prices crashing over 70% in the past year, after more than doubling to a record peak in late 2022.",{"type":572,"attrs":616,"content":617},{"textAlign":49},[618,620,626],{"text":619,"type":577},"Cobalt prices are trading at their ",{"text":621,"type":577,"marks":622},"lowest level ever recorded by Benchmark",[623],{"type":587,"attrs":624},{"href":625,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://www.benchmarkminerals.com/price-assessments/cobalt/portal/?tab=table",{"text":627,"type":577},", down by over 25% year-on-year, while nickel prices have sunk below production costs for much of the industry, leading to a wave of mine closures this year.",{"type":629,"attrs":630,"content":632},"heading",{"level":631,"textAlign":49},4,[633],{"text":634,"type":577},"Volatility threatens long-term EV ambitions",{"type":572,"attrs":636,"content":637},{"textAlign":49},[638,640,646],{"text":639,"type":577},"The downturn, linked to a ",{"text":641,"type":577,"marks":642},"short-term slowdown in EV sales ",[643],{"type":587,"attrs":644},{"href":645,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/how-bad-is-the-electric-vehicle-slowdown",{"text":647,"type":577},"and widespread overcapacity concerns in the supply chain, also reflects the use of fixed-term pricing mechanisms in the battery supply chain, which helps to foster a “feast or famine” approach to supply contracts.",{"type":572,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":577},"This “feast or famine” approach has created significant tension between suppliers and customers during periods of sharp volatility, as one side of the trade inevitably benefits disproportionately at the expense of the other.",{"type":572,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":577},"In the longer term, sharp volatility threatens to derail electric vehicle deployment targets, as supply chain players scale back investments and mines are shuttered. Instability further complicates financing efforts for miners looking to bring new supply into production, while making it difficult for automotive manufacturers to control costs effectively.",{"type":572,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":577},"To mitigate these extremes, many industry players are now adopting market-led pricing mechanisms – which offer both sides greater flexibility and stability. ",{"type":572,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":577},"Market-led pricing mechanisms utilise benchmark prices or indices to set contract terms,helping to foster transparency, reduce negotiation time, and enable both parties to better manage volatility and uncertainty. This approach helps establish a smoother, long-term relationship between suppliers and their critical partners, and is widely used in other commodity markets.",{"type":629,"attrs":669,"content":670},{"level":631,"textAlign":49},[671,673,679],{"text":672,"type":577},"Here are four methods to leverage ",{"text":674,"type":577,"marks":675},"Benchmark Price Assessments",[676],{"type":587,"attrs":677},{"href":678,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://www.benchmarkminerals.com/price-assessments/",{"text":680,"type":577}," in commodity contracts:",{"type":629,"attrs":682,"content":683},{"level":631,"textAlign":49},[684],{"text":685,"type":577},"Floating Price",{"type":572,"attrs":687,"content":688},{"textAlign":49},[689],{"text":690,"type":577},"The floating price method is the most common market-led pricing strategy. It involves using the average of a reference price over a specified period. This method minimises price volatility around delivery times and accurately reflects current market fundamentals. By adopting a floating price mechanism, both parties can ensure that the contract price is aligned with the prevailing market conditions, thereby reducing the risk of significant price discrepancies.",{"type":572,"attrs":692,"content":693},{"textAlign":49},[694],{"type":605,"attrs":695},{"id":49,"alt":607,"src":696,"title":49,"source":49,"copyright":49,"meta_data":697},"https://lh7-rt.googleusercontent.com/docsz/AD_4nXfGS9KCjzXsgecRy-NpxZ-f8cRmkbh1drTkXPqYyP4qjzKB8XhtUOJ7ctbe5Y64a_I4HJGdftmWDuX56D_GnvAY7KAWA1JRzWQoDYrf-_FV6okG-zEGuBsKL5H3uVVtz4WERJyyu7Jpxg3OfuQxt2dOZCox?key=0PMrY2V8STKblxlFnmQdyA",{},{"type":629,"attrs":699,"content":700},{"level":631,"textAlign":49},[701],{"text":702,"type":577},"Floors and Ceilings",{"type":572,"attrs":704,"content":705},{"textAlign":49},[706],{"text":707,"type":577},"Setting price floors and ceilings is another effective strategy. In this method, both parties agree on upper and lower price bounds based on factors such as market volatility and forecasts. Within these boundaries, the market price, typically derived using the floating price method, is paid. This approach eliminates the need for frequent price reviews and protects both parties from extreme price movements, providing a balanced and predictable pricing structure.",{"type":572,"attrs":709,"content":710},{"textAlign":49},[711],{"type":605,"attrs":712},{"id":49,"alt":607,"src":713,"title":49,"source":49,"copyright":49,"meta_data":714},"https://lh7-rt.googleusercontent.com/docsz/AD_4nXfiTcDh4UsqIGV1yZCDNhKXb_PC2hvFnDfZ5HtoCJ4D_VMtKy95gMNTGcONz38BtSZx8bSIbh9CNBjb8l-rHqRmIbJiGwv9S_4MA2kUb2o7MYy48B-iCnEouUJ0MeYMpoVWo7ZRn7OgAOcZXCEKE9UG91Pa?key=0PMrY2V8STKblxlFnmQdyA",{},{"type":629,"attrs":716,"content":717},{"level":631,"textAlign":49},[718],{"text":719,"type":577},"Short-Term Fixed Price",{"type":572,"attrs":721,"content":722},{"textAlign":49},[723],{"text":724,"type":577},"Short-term fixed pricing involves setting prices for a period ranging from one to six months, with quarterly adjustments being the most common. While this method requires access to the latest prices and market fundamentals and necessitates frequent renegotiation, it can significantly reduce volatility. By following market trends to some extent, short-term fixed pricing offers a compromise between the stability of fixed prices and the flexibility of market-led pricing.",{"type":572,"attrs":726,"content":727},{"textAlign":49},[728],{"type":605,"attrs":729},{"id":49,"alt":607,"src":730,"title":49,"source":49,"copyright":49,"meta_data":731},"https://lh7-rt.googleusercontent.com/docsz/AD_4nXdNoQA2GM76HMQkQUcGVEBQ6HTPohfNhr1XweVWjD-6GiF-SiScUAEdlOli7zTX20f1umroKjKQXNZAYBZuZKZWJB6VJLkUuptCOnfQKx3iXYDRxcM5_FhOebA9JDvJBV4CUS5QhXfHXg8WMzRyOttl1eY?key=0PMrY2V8STKblxlFnmQdyA",{},{"type":629,"attrs":733,"content":734},{"level":631,"textAlign":49},[735],{"text":736,"type":577},"Relative Change Indexing",{"type":572,"attrs":738,"content":739},{"textAlign":49},[740],{"text":741,"type":577},"Relative change indexing adjusts an initial fixed price based on percentage changes in the market price, derived from a benchmark index provider over a set period. This method incorporates premiums or discounts and aligns the contract price with market evolution. By reflecting market trends in the contract price, relative change indexing ensures that the price remains fair and relevant throughout the contract term.",{"type":572,"attrs":743,"content":744},{"textAlign":49},[745],{"type":605,"attrs":746},{"id":49,"alt":607,"src":747,"title":49,"source":49,"copyright":49,"meta_data":748},"https://lh7-rt.googleusercontent.com/docsz/AD_4nXf7-iUrbJb40ezThdkKiJ4mn8BqpP7zLl27wFyBWPmefz-OvP3Nx4CZqSW3KMZEPnhvEIQiJsBorXmhi6IpcCvGFAY2_o5ct_WII2_8wYX_pTQxqmj9bsxi1K9F1SC73rn4V10HrsKsF_1QQyzox8o0x2w?key=0PMrY2V8STKblxlFnmQdyA",{},{"type":572,"attrs":750,"content":751},{"textAlign":49},[752],{"text":753,"type":577},"For maximum flexibility, transparency, and price risk management, suppliers and buyers can also mix and match these pricing methods. ",{"type":572,"attrs":755,"content":756},{"textAlign":49},[757,759,764],{"text":758,"type":577},"By indexing to ",{"text":760,"type":577,"marks":761},"Benchmark’s prices",[762],{"type":587,"attrs":763},{"href":678,"uuid":49,"anchor":49,"target":49,"linktype":590},{"text":765,"type":577},", the industry is able to achieve more stable, predictable and less volatile supply contracts, benefitting both sides of the trade.",{"type":572,"attrs":767,"content":768},{"textAlign":49},[769],{"text":770,"type":577,"marks":771},"Benchmark produces the leading market price assessments used for supply contract settlement, indexation and price risk management.",[772],{"type":773},"italic",{"type":572,"attrs":775,"content":776},{"textAlign":49},[777],{"text":778,"type":577,"marks":779},"Partner with Benchmark’s Price Reporting Agency to empower your pricing decisions across the lithium ion supply chain and energy transition ecosystem.",[780],{"type":773},{"type":572,"attrs":782,"content":783},{"textAlign":49},[784],{"text":785,"type":577,"marks":786},"Complete the form below to learn more:",[787],{"type":773},"A steep decline in battery raw material prices has thrown supply contract pricing mechanisms into sharp focus, highlighting the pressing need for more effective tools to manage price risk and limit volatility. Critical raw material prices have experienced a sweeping correction since early 2023, plummeting from record highs to near-historical lows across many markets. Lithium […]",[790],{"slug":560,"name":561,"content":791},{"job_title":563,"image":792,"bio":566,"linkedin":567},{"filename":565},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"d9ca7d34-63be-4c5e-8c4c-ab10cf811f41\", \"id\": \"\"}-->","article",[796,798,801,804,806,809],{"slug":797,"name":115},"cobalt",{"slug":799,"name":800},"critical-minerals","Critical Minerals",{"slug":802,"name":803},"graphite","Graphite",{"slug":805,"name":8},"lithium",{"slug":807,"name":808},"manganese","Manganese",{"slug":810,"name":150},"nickel","public",{"id":49,"alt":607,"name":607,"focus":607,"title":607,"source":607,"filename":813,"copyright":607,"fieldtype":814,"meta_data":815,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/3ac8918b07/bm-collage-prices-3.png","asset",{"alt":607,"title":607,"source":607,"copyright":607},"Aug 13, 2024","13th August 2024",[],[],{"id":821,"uuid":822,"name":823,"slug":824,"full_slug":824,"content":825,"relatedArticles":829,"relatedVideos":830},120886048076734,"4b6fbcc0-7881-4fbb-92ee-06d1ed3f3cec","⚙️ Settings","settings",{"_uid":826,"component":824,"black_listed_email_domains":827,"_editable":828,"formattedDate":607,"formattedArticleDate":607},"8dcafbcc-28de-4388-a68e-6b41e24f31bb","direkt.se\nstreetwisereports.com\nalpha-sense.com\nafrica-energy.com\ntcs.com\nmm-markets.com\nsmr-premium.com\nsci99.com\nlondoncib.com\nyeb.com.br\nnewautomotive.org\nsina.com.cn\ngwstrategies.net\noliverwyman.com\ndazeinfo.com\ndataintelo.com\ninfyos.com\nevalueserve.com\ninsightwoo.com\ncrescendoanalytic.com\nipaglobal.com\nweare121.com\nzemek.com\nryancommodityinsights.com\nonyxsi.com\ncostmine.com\nnickhatchmining.com\naethoslabs.com\nmysteel.com\nbuzblox.com\nfutureproofconsulting.com.au\ncmgroup.net\noptelgroup.com\nberylls.com\nreputex.com\nnumber-three.net\nrobertdallison.com\nwsp.com\nafriforesight.com\npaydirt.com.au\nmetal.com\ninforma.com\nfelixstrategy.com\ncrisil.com\nantaike.com\nbatterymaterialsreview.com\nsrk.com\nglobaltrustgrp.com\nnapiermeridian.com\nprojectblue.com\nplutonic-rma.com\nrosaearth.io\ndrivesustainability.org\nminehub.com\nscsglobalservices.com\nLynxglobalintelligence.com\nsphera.com\nminespider.com\nc-resource.com\ntdi-sustainability.com\nkumi.consulting\nsc-insights.com\nkallanish.com\naboutenergy.co.uk\nenant.io\nopisnet.com\nacuitycommodities.com\nevinfocus.com\nsfa-oxford.com\ncrugroup.com\nwoodmac.com\nspglobal.com\nrolandberger.com\nrcsglobal.com\nnornik.ru\nlivista.energy\nihsmarkit.com\ncapitalightresearch.com\namegroup.com\ncapitalight.co\nsustainablelabs.io\ncommoditiesanalysis.co.uk\navicenne.com\nkearney.com\nnornickel.net\n5napier.com\nvoltility.net\ngf.com.cn\nhindenburgresearch.com\ndigbee.com\nadamasintel.com\nac-harvard.com\nsneresearch.com\ninventusbioenergy.com\nproactiveinvestors.com\nauroraer.com\nresourceworld.com\nbatteryline.com\norennia.com\nfastmarkets.com\nmsci.com\nbcg.com\nklinegroup.com\ndelta-ee.com\nskarnassociates.com\nricardo.com\ncleanhorizon.com\np3-group.com\naccenture.com\nporsche-consulting.com\numlaut.com\nadi-analytics.com\ncpmgroup.com\nilimarkets.com\nminviro.com\nmckinsey.com\ncicenergigune.com\ne4tech.com\nargusmedia.com\ndolbear.com\nerm.com\nlithium.org\nradiusq.com\ndigivla.com\njeri.co.jp\ntopology.com.tw\nsaurenergy.com\novaladvisory.com\ngsixenergy.com","\u003C!--#storyblok#{\"name\": \"settings\", \"space\": \"287943243085208\", \"uid\": \"8dcafbcc-28de-4388-a68e-6b41e24f31bb\", \"id\": \"120886048076734\"}-->",[],[],1783682669504]