Benchmark begins public consultation on its European and North American lithium grades

Benchmark Mineral Intelligence announced today that it has started a formal public consultation on changes to its Lithium Price Assessment Methodology.

Evolution of Europe and North America lithium price grades

As regional liquidity in the lithium market continues to grow, Europe and North America have seen battery grade spot markets burgeon.

Until now, battery grade spot market liquidity in Europe and North America has been insufficient for a robust price assessment process, to Benchmark’s strict market specific methodology process.

However, with an accelerating pipeline of domestic and ex-Asia lithium chemical production capacity, coupled with increased desire to source battery raw materials locally, Benchmark is proposing splitting its European and North American lithium grades into spot and contract assessments to support this trend.

Benchmark also proposes updating the incoterm for its FOB North America lithium hydroxide grade to CIF North America, to better reflect changing global trade flows.

The following grades will be impacted:

CIF Europe lithium carbonate will be split into CIF Europe lithium carbonate (spot) and CIF Europe lithium carbonate (contract)

CIF Europe lithium hydroxide will be split into CIF Europe lithium hydroxide (spot) and CIF Europe lithium hydroxide (contract)

CIF North America lithium carbonate will be split into CIF North America lithium carbonate (spot) and CIF North America lithium carbonate (contract)

FOB North America lithium hydroxide will be split, and its incoterm altered, into CIF North America lithium hydroxide (spot) and CIF North America lithium hydroxide (contract)

As a result, Benchmark is seeking feedback on its plans to modify these grades and public consultation for this change is now open for 30 days.

Benchmark invites feedback from active market participants by the latest Monday 9 June 2025.

Comments are welcomed via submission to: prices@benchmarkminerals.com