Benchmark launches cathode and anode price assessments

Benchmark has launched price assessments for anodes and cathodes, to provide price transparency for this critical part of the supply chain.

The new price assessments complement the regular analysis of market developments in Benchmark’s Anode and Cathode Market Assessments.

The latest price assessments show cathode prices rising 40% since October last year, with the primary driver for this being the raw material feedstock costs. For anodes, prices have increased by 8.4% over the same time period, though have been relatively flat over the past few months.

The prices are assessed by Benchmark’s expert analysts on a DDP China spot basis, and are based on primary data collected directly from active market participants in the supply chain.

Benchmark Cathode Price Assessments

The new Cathode Price Assessment tracks seven cathode grades:

The prices across all grades have risen substantially on a year-on-year basis. Cathode prices are intimately connected to the raw material feedstock costs.

Lithium carbonate and lithium hydroxide prices have had the biggest influence on cathode prices in recent months, with prices for the feedstock rising 8% and 1.5%, respectively, since September.

Strong demand has also helped drive up cathode prices. That, combined with rising lithium carbonate costs, led LFP prices to rise by over 3% this month.

Cobalt prices had a particular impact on lithium cobalt oxide (LCO) cathodes. Cobalt hydroxide prices rose nearly 10% in Asia, leading to the 3% increase in LCO prices.

Overall, Benchmark’s cathode price index rose 0.8% this month and 40% since October last year.

Benchmark Anode Price Assessments

The new Anode Price Assessment tracks six anode grades:

Unlike the cathode prices, Benchmark reports that anode prices have been relatively stable over recent months. Throughout October the anode price index has dropped only 0.1%, though it has risen 8.4% since October last year.

For synthetic graphite anodes, this price stability has occurred despite pressure from the downstream to reduce prices. Synthetic graphite anode suppliers have resisted lowering their prices owing to strong demand from electric vehicles.

In-house graphitisation capability, which allows synthetic graphite anode makers to produce their own synthetic graphite, has led to cost reductions in the anode production processes. This may lead to an anode price decrease next quarter, Benchmark forecasts.

For natural graphite the combination of falling feedstock prices coupled with strong downstream demand has led natural graphite anode prices to remain relatively stable over the past few months.

The new cathode and anode price assessments reflect Benchmark’s ongoing commitment to deliver critical data and insights across the whole lithium ion battery supply chain.

Learn more about Benchmark’s Cathode and Anode Price Assessments

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