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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":707,"relatedVideos":708},112470890473652,"f8158772-c9b3-4625-a8af-8f0828622a0e","What could China’s economic slowdown mean for the battery supply chain?","chinas-economic-slowdown-hits-battery-supply-chain","article/chinas-economic-slowdown-hits-battery-supply-chain",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":675,"featured":50,"reporter":676,"_editable":680,"component":681,"seo_title":543,"categories":682,"visibility":699,"author_company":49,"featured_image":700,"seo_description":675,"author_full_name":49,"author_job_title":49,"formattedDate":705,"formattedArticleDate":706},"f59fdeff-2e25-4323-8d9f-56fb6c66dc80","2023-08-18 00:00",[550,553,556],{"slug":551,"name":552},"cathode-prices","Cathode prices",{"slug":554,"name":555},"china","China",{"slug":557,"name":558},"lithium-prices","Lithium prices",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"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":570,"content":571},"doc",[572,579,600,605,610,615,628,633,640,645,650,655,660,665,670],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"Benchmark’s lithium carbonate spot prices in China fell by 9% over the past week, the steepest weekly decline since mid-April as indicators in China suggested a slowdown in the country’s economy. ","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582,590,592,598],{"text":583,"type":578,"marks":584},"Lithium carbonate EXW China (battery)",[585],{"type":586,"attrs":587},"link",{"href":588,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://www.benchmarkminerals.com/forecasts/lithium/reports/","url",{"text":591,"type":578}," prices fell to RMB 241,500 ($33,075) a tonne between 9 and 16 August. Benchmark’s monthly ",{"text":593,"type":578,"marks":594},"prices for Chinese cathodes",[595],{"type":586,"attrs":596},{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://www.benchmarkminerals.com/price-assessments/cathode/chart/",{"text":599,"type":578}," also dipped in August for the first time since May. ",{"type":573,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":578},"China’s monthly electric vehicle sales have been growing year-on-year since February 2023, they have fallen short of growth rates that some market players forecasted in the first quarter. ",{"type":573,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":578},"In July, China’s EV sales fell 5.6 % month-on-month as the country’s economy tipped into deflation. However, NEV sales in July were still up by over 30% year-on-year.",{"type":573,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":578},"The month also saw year-on-year BEV sales growth slip to 18.2% from 19.3% in June and 51.5% in May, according to figures from the China Association of Automobile Manufacturers.",{"type":573,"attrs":616,"content":617},{"textAlign":49},[618,620,626],{"text":619,"type":578},"Lower demand growth means some Chinese producers now face a worsening ",{"text":621,"type":578,"marks":622},"overcapacity",[623],{"type":586,"attrs":624},{"href":625,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/chinese-cell-oversupply-hits-tier-3-producers",{"text":627,"type":578}," issue, precipitated by rapid industry expansion over 2021 and 2022. Overcapacity is greatest among midstream players but is also affecting Tier 2 and 3 cell, cathode, and car makers, who cannot export to Western markets. ",{"type":573,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":578},"For Tier 2 and 3 companies reliant on domestic sales, the outlook could become challenging. China’s Consumer Price Index fell 0.3% in July, from a year earlier, following months of consumer caution and retailer price cuts.  ",{"type":634,"attrs":635,"content":637},"heading",{"level":636,"textAlign":49},4,[638],{"text":639,"type":578},"Overcapacity hits midstream ",{"type":573,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":578},"The impacts of slower EV sales over summer have varied across supply chain segments and companies.",{"type":573,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":578},"Overcapacity and margin losses are mainly hurting the middle of the supply chain, covering cathode and anode makers and pCAM manufacturers.",{"type":573,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":578},"Benchmark’s Cathode Price Index fell 6.3% m-o-m in August due to weak demand, in addition to falling raw material feedstock prices.",{"type":573,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":578},"Average capacity utilisation among Chinese pCAM manufacturers has fallen to around 50% compared to between 65% and 70% last year. ",{"type":573,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":578},"Tier 2 and 3 cathode and cell makers could also struggle in the face of a slowdown in domestic demand. Benchmark has estimated Chinese Tier 2 and Tier 3 battery cell producers at 60% and 40% capacity utilisation. ",{"type":573,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":578},"In cathodes, low entry requirements have allowed a stream of new players to move in from other chemical sectors, making this segment of the supply chain highly competitive. The automaker price wars of early 2023 has also put pressure on prices.",{"type":573,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":578},"Market perceptions among individual companies are also affecting plant utilisation rates. Some cathode producers are increasing production based on hopes the market will turn later in the year, according to Benchmark analyst Rob Burrell. ","Benchmark’s lithium carbonate spot prices in China fell by 9% over the past week, the steepest weekly decline since mid-April as indicators in China suggested a slowdown in the country’s economy. Lithium carbonate EXW China (battery) prices fell to RMB 241,500 ($33,075) a tonne between 9 and 16 August. Benchmark’s monthly prices for Chinese cathodes […]",[677],{"slug":561,"name":562,"content":678},{"job_title":564,"image":679,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"f59fdeff-2e25-4323-8d9f-56fb6c66dc80\", \"id\": \"\"}-->","article",[683,686,688,691,694,697],{"slug":684,"name":685},"batteries","Batteries",{"slug":687,"name":298},"cathode",{"slug":689,"name":690},"critical-minerals","Critical Minerals",{"slug":692,"name":693},"ev","EV",{"slug":695,"name":696},"geopolitics","Geopolitics",{"slug":698,"name":8},"lithium","private",{"id":49,"alt":701,"name":701,"focus":701,"title":701,"source":701,"filename":702,"copyright":701,"fieldtype":703,"meta_data":704,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/f280827cff/bm-china-real-estate.jpg","asset",{"alt":701,"title":701,"source":701,"copyright":701},"Aug 18, 2023","18th August 2023",[],[],1781023428752]