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raw material price declines add to long term supply risks ","battery-raw-material-price-declines-add-to-long-term-supply-risks","article/battery-raw-material-price-declines-add-to-long-term-supply-risks",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":715,"featured":51,"reporter":716,"_editable":720,"component":721,"seo_title":553,"categories":722,"visibility":740,"author_company":49,"featured_image":741,"seo_description":715,"author_full_name":49,"author_job_title":49,"formattedDate":745,"formattedArticleDate":746},"6c747ca9-97a5-4e29-bc2c-0803ac96815f","2024-02-23 00:00",[],[561],{"slug":562,"name":563,"content":564},"matthew-bird","Matthew Bird",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Senior Editor - Supply Chains & Data Visualisation",{"filename":567},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":571,"content":572},"doc",[573,580,611,616,625,636,641,654,661,666,687,700,705,710],{"type":574,"attrs":575,"content":576},"paragraph",{"textAlign":49},[577],{"text":578,"type":579},"Lithium’s downturn from record highs is the sharp end of a broader correction across the suite of battery raw materials that is adding considerable future supply risk for the battery industry. ","text",{"type":574,"attrs":581,"content":582},{"textAlign":49},[583,585,593,595,601,603,609],{"text":584,"type":579},"Benchmark’s latest price assessments show ",{"text":586,"type":579,"marks":587},"EXW China Lithium Carbonate (battery)",[588],{"type":589,"attrs":590},"link",{"href":591,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://www.benchmarkminerals.com/price-assessments/lithium/portal/?tab=table","url",{"text":594,"type":579}," prices have decreased 79.9% year-on-year, while ",{"text":596,"type":579,"marks":597},"EXW China Cobalt Sulphate",[598],{"type":589,"attrs":599},{"href":600,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://www.benchmarkminerals.com/price-assessments/cobalt/portal/?tab=table",{"text":602,"type":579}," and ",{"text":604,"type":579,"marks":605},"DDP China Natural Graphite 94-95% C, -100 mesh",[606],{"type":589,"attrs":607},{"href":608,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://www.benchmarkminerals.com/price-assessments/natural-graphite/portal/",{"text":610,"type":579}," have also recorded notable declines, down 24.4% and 37.9% year-on-year respectively. ",{"type":574,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":579},"Under the current low-price environment operators are curtailing production at existing mines and investment in new supply is being hamstrung. This is despite bullish medium-to-long term demand prospects for these future-facing commodities. ",{"type":574,"attrs":617,"content":618},{"textAlign":49},[619],{"type":620,"attrs":621},"image",{"id":49,"alt":622,"src":623,"title":49,"source":49,"copyright":49,"meta_data":624},"","https://a.storyblok.com/f/287943243085208/7c6e1b2d19/bm-pricedeclines.png",{},{"type":574,"attrs":626,"content":627},{"textAlign":49},[628,630],{"text":629,"type":579},"Battery demand is set to increase at a compound annual growth rate (CAGR) of 19.5% until the end of the decade, according to ",{"text":631,"type":579,"marks":632},"Benchmark’s Lithium ion Battery Database.",[633],{"type":589,"attrs":634},{"href":635,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports/",{"type":574,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":579},"The downtrend across all markets is broadly reflective of a short-term slowdown in electric vehicle (EV) sector demand growth. Lithium prices have proven particularly volatile due to the immature nature of the market, with previous high prices supporting ‘unconventional’ supply sources that are now proving uneconomical at current price levels.",{"type":574,"attrs":642,"content":643},{"textAlign":49},[644,646,652],{"text":645,"type":579},"A bearish outlook is contributing further downward pressure to prices in some markets. This is particularly true for cobalt and nickel, as Benchmark ",{"text":647,"type":579,"marks":648},"projects",[649],{"type":589,"attrs":650},{"href":651,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://www.benchmarkminerals.com/forecasts/",{"text":653,"type":579}," significant supply-side additions to sustain market surpluses until 2026 and 2028 respectively.",{"type":655,"attrs":656,"content":658},"heading",{"level":657,"textAlign":49},4,[659],{"text":660,"type":579},"Downturn increases demand for new prices points",{"type":574,"attrs":662,"content":663},{"textAlign":49},[664],{"text":665,"type":579},"The current downturn is amplifying calls across the industry for price points that encompass a broad range of considerations beyond just price. ",{"type":574,"attrs":667,"content":668},{"textAlign":49},[669,671,677,679,685],{"text":670,"type":579},"As Benchmark previously ",{"text":672,"type":579,"marks":673},"reported",[674],{"type":589,"attrs":675},{"href":676,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/sustainability-now-a-critical-metric-for-lithium-supply-agreements",{"text":678,"type":579},", sustainability considerations are now forming a critical metric in new contract agreements in the lithium market. And whilst there is no clear ‘green premium’ for lithium as yet, Benchmark now ",{"text":680,"type":579,"marks":681},"releases",[682],{"type":589,"attrs":683},{"href":684,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/benchmark-to-launch-sustainable-lithium-carbonate-pricing",{"text":686,"type":579}," a bi-weekly Sustainable Lithium Carbonate spot price to provide the industry with greater price granularity. ",{"type":574,"attrs":688,"content":689},{"textAlign":49},[690,692,698],{"text":691,"type":579},"Likewise, Benchmark recently ",{"text":693,"type":579,"marks":694},"launched",[695],{"type":589,"attrs":696},{"href":697,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/growing-demand-for-ex-china-graphite-drives-need-for-new-pricing-data",{"text":699,"type":579}," a North America graphite price that reflects the West’s growing efforts to diversify supply chains away from China to improve security of supply and lower carbon emissions.",{"type":574,"attrs":701,"content":702},{"textAlign":49},[703],{"text":704,"type":579},"Meanwhile, beleaguered nickel miners in the West are also pressing for a bifurcation of the nickel market and the adoption of pricing mechanisms that differentiate the environmental footprint of different processing routes. ",{"type":574,"attrs":706,"content":707},{"textAlign":49},[708],{"text":709,"type":579},"Nickel sulphate prices have fallen 36% from the beginning of 2023, leading to an ever-growing number of mines in western jurisdictions to be mothballed. Western operators are struggling to compete against the large volumes of low-cost, carbon-intensive nickel entering the market from Chinese operations in Indonesia. ",{"type":574,"attrs":711,"content":712},{"textAlign":49},[713],{"text":714,"type":579},"End-users, however, remain resistant to adopting pricing mechanisms that impose a price premium. Automakers fear that increased raw material prices will derail attempts to drive down vehicle production costs. ","Lithium’s downturn from record highs is the sharp end of a broader correction across the suite of battery raw materials that is adding considerable future supply risk for the battery industry. Benchmark’s latest price assessments show EXW China Lithium Carbonate (battery) prices have decreased 79.9% year-on-year, while EXW China Cobalt Sulphate and DDP China Natural […]",[717],{"slug":562,"name":563,"content":718},{"job_title":565,"image":719,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"6c747ca9-97a5-4e29-bc2c-0803ac96815f\", \"id\": \"\"}-->","article",[723,725,728,730,733,736,738],{"slug":724,"name":265},"anode",{"slug":726,"name":727},"batteries","Batteries",{"slug":729,"name":300},"cathode",{"slug":731,"name":732},"critical-minerals","Critical Minerals",{"slug":734,"name":735},"graphite","Graphite",{"slug":737,"name":8},"lithium",{"slug":739,"name":151},"nickel","private",{"id":49,"alt":622,"name":622,"focus":622,"title":622,"source":622,"filename":742,"copyright":622,"fieldtype":743,"meta_data":744,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/2276b31463/bm-pricedeclines2.png","asset",{"alt":622,"title":622,"source":622,"copyright":622},"Feb 23, 2024","23rd February 2024",[],[],1789748850665]