Benchmark to publish CIF Asia lithium chemical spot and contract prices and increase frequency of all monthly grades

Benchmark Mineral Intelligencewill now publish weekly market price assessments of its newly separated Benchmark CIF Asia lithium carbonate and lithium hydroxide spot price assessments beginning 4 January 2023.

Japan and South Korea – the primary markets for battery-grade lithium chemical sales in Asia (ex-China) – saw rising liquidity in lithium spot transactions throughout 2022.

More frequent transactions and higher volumes traded on a one-off settlement basis has resulted in greater lithium price volatility in shorter time spans.

However, the bulk of lithium volumes into Asia remain transacted under long term supply contracts.

As a result, Benchmark will now separate its Benchmark CIF Asia lithium carbonate and lithium hydroxide grades to publish spot and contract prices, to allow subscribers greater granularity over landed prices into Asia.

CIF Asia lithium spot prices

The newly separated Benchmark CIF Asia lithium spot prices will be published weekly, with this increased frequency allowing subscribers more regular updates to the latest transactional price data.

Spot transactions will be defined as a single settlement at a negotiated price for delivery within 60 days.

All lithium grades move to price assessment every two weeks

Moreover, all lithium grades assessed by Benchmark on a monthly basis will move to a publishing cycle of every two weeks, including the newly separated Benchmark CIF Asia contract prices.

Benchmark will also publish a combined Benchmark CIF Asia price for lithium hydroxide and lithium carbonate every two weeks, which will consider the extent of the range for Benchmark’s CIF Asia contract and spot prices for the previous two weeks, allowing for continuity of the current price grade as it is published today.

This evolution allows for the facilitation of more frequent lithium price assessments within the parameters of Benchmark’s IOSCO compliant and lithium-first price methodology.

Benchmark prides itself on truly understanding and listening to the lithium market to guide our Price Assessment practices.

Benchmark’s lithium prices – every week

New – Benchmark will now publish weekly prices for:

· Lithium Carbonate, CIF Asia (Spot), ≥99.2% Li2CO3

· Lithium Hydroxide, CIF Asia (Spot), ≥56.5% LiOH

Active – Benchmark will continue to publish weekly prices for:

· Lithium Carbonate, EXW China, ≥99.5% Li2CO3 (Battery grade)

· Lithium Carbonate, EXW China, ≥99.0% Li2CO3 (Technical grade)

· Lithium Hydroxide, EXW China, ≥56.5% LiOH

These five prices are available to Benchmark’s Lithium Price Assessment Subscribers every Wednesday by 4pm (London), starting from 4 January 2023.

Benchmark’s lithium prices – every two weeks

Benchmark Lithium Price Assessment Subscribers will now have access to the following lithium prices every two weeks:

· Lithium Carbonate, CIF Asia (Contract), ≥99.2% Li2CO3

· Lithium Carbonate, CIF Asia (Combined), ≥99.2% Li2CO3

· Lithium Carbonate, FOB South America, ≥99.0% Li2CO3

· Lithium Carbonate, CIF Europe, ≥99.0% Li2CO3

· Lithium Carbonate, CIF North America, ≥99.0% Li2CO3

· Lithium Hydroxide, CIF Asia (Contract), ≥56.5% LiOH

· Lithium Hydroxide, CIF Asia (Combined), ≥56.5% LiOH

· Lithium Hydroxide, CIF Europe, ≥55.0% LiOH

· Lithium Hydroxide, FOB North America, ≥55.0% LiOH

· Spodumene Concentrate, FOB Australia, 6% Li20

These 10 prices will be published for access by subscribers to Benchmark’s website every alternate Wednesday by 4pm (London) starting from 11 January 2023, with market analysis sent out to subscribers soon after.

Benchmark will publish a combined Benchmark CIF Asia price simultaneously, to consider the extent of the range for the contract and spot prices for the previous two weeks.

“These latest changes to Benchmark’s market leading, IOSCO compliant Lithium Price Assessments reconfirm our commitment to providing the most trusted actionable intelligence on the lithium ion battery and EV supply chain,” Caspar Rawles, chief data officer at Benchmark, said.

“As the lithium market evolves with the largest industrial shift seen in generations, Benchmark works hard to ensure its data reflects current market trends and pricing mechanisms used by active participant in the physical supply chain”

“This evolution in the way we collect and assess our CIF Asia lithium prices gives greater granularity for our customer base – the world’s lithium ion battery and electric vehicle supply chain – to use to settle contracts and plan major investments.

“Benchmark is a market-first organisation that evolves its operations and processes on the basis of market needs, and not before.

“As the world’s lithium market matures further, Benchmark is committed to evolving is Price Assessment processes to ensure to most accurate and reliable data for its subscribers.”

Benchmark Price Assessments – contact us:

Benchmark Mineral Intelligence is the world’s number one market price provider for the lithium ion battery to electric vehicle supply chain.

We publish weekly and monthly Price Assessments – Lithium, Cobalt, Natural Graphite, Synthetic Graphite, Nickel, Cathodes, Anodes – to the highest IOSCO standard.

Our lithium-first price assessments are created by senior management and price analysts that truly understand the market they are assessing.

They are the world’s most trusted lithium price assessments and used to settle contracts and guide major investment decisions.

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