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slump","chinese-lfp-battery-prices-fall-to-12-month-low-as-lithium-prices-slump","article/chinese-lfp-battery-prices-fall-to-12-month-low-as-lithium-prices-slump",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":671,"featured":50,"reporter":672,"_editable":676,"component":677,"seo_title":543,"categories":678,"visibility":687,"author_company":49,"featured_image":688,"seo_description":671,"author_full_name":49,"author_job_title":49,"formattedDate":692,"formattedArticleDate":693},"942cc088-2995-4162-81d7-f81e5033dc44","2023-03-09 00:00",[550],{"slug":551,"name":552},"china","China",[554],{"slug":555,"name":556,"content":557},"matthew-bird","Matthew Bird",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Senior Editor - Supply Chains & Data Visualisation",{"filename":560},"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":564,"content":565},"doc",[566,583,588,593,598,607,619,624,629,636,643,656,661,666],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570,573,581],{"text":571,"type":572},"The price of lithium iron phosphate batteries in China fell to a 12 month low last month due to a rapid decline in domestic ","text",{"text":574,"type":572,"marks":575},"lithium prices",[576],{"type":577,"attrs":578},"link",{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://source.benchmarkminerals.com/article/lithium-prices-slip-again-in-february-as-weak-ev-demand-slows-two-year-rally","url",{"text":582,"type":572},", helping to reduce costs for automakers. ",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"The price of an average lithium iron phosphate prismatic cell in China has fallen 8% over the past year and now stands at $93.6 a kilowatt hour, as assessed by Benchmark’s Lithium Ion Battery Cell Price Assessment. ",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"That compares to a rise of 7.1% over the past year for the global weighted average cell price to $117/kWh, according to Benchmark.  ",{"type":567,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":572},"The falling LFP battery cell prices are helping to make the chemistry more cost competitive against nickel cobalt manganese chemistries (NCM), and especially against batteries produced outside of China – which are being pushed up by higher ex-China lithium prices. ",{"type":567,"attrs":599,"content":600},{"textAlign":49},[601],{"type":602,"attrs":603},"image",{"id":49,"alt":604,"src":605,"title":49,"source":49,"copyright":49,"meta_data":606},"","https://a.storyblok.com/f/287943243085208/f98c737ccb/bm-image-26.png",{},{"type":567,"attrs":608,"content":609},{"textAlign":49},[610,612,617],{"text":611,"type":572},"Chinese battery-grade ",{"text":574,"type":572,"marks":613},[614],{"type":577,"attrs":615},{"href":616,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://source.benchmarkminerals.com/article/whats-going-on-with-lithium-prices",{"text":618,"type":572}," have fallen to their lowest level since January 2022 due to a weakening of demand and build up of inventories in China. They are down 27% year-to-date to RMB 381,500 ($54,789) a tonne, according to Benchmark’s Lithium Price Assessment. ",{"type":567,"attrs":620,"content":621},{"textAlign":49},[622],{"text":623,"type":572},"Prices for lithium hydroxide CIF Asia outside of China, however, trades at a roughly $10,000 a tonne premium to that in China, according to Benchmark’s Lithium Price Assessment. For lithium carbonate, it’s around $8,000 a tonne higher. ",{"type":567,"attrs":625,"content":626},{"textAlign":49},[627],{"text":628,"type":572},"The increased ex-China lithium contract prices have pushed the cost of lithium to around 35% of the input cost for all cells produced in Asia (ex-China), Europe and North America, according to Benchmark. ",{"type":567,"attrs":630,"content":631},{"textAlign":49},[632],{"type":602,"attrs":633},{"id":49,"alt":604,"src":634,"title":49,"source":49,"copyright":49,"meta_data":635},"https://a.storyblok.com/f/287943243085208/1681dd6bc6/bm-image-27.png",{},{"type":637,"attrs":638,"content":640},"heading",{"level":639,"textAlign":49},4,[641],{"text":642,"type":572},"The Unstoppable Rise of LFP",{"type":567,"attrs":644,"content":645},{"textAlign":49},[646,648,654],{"text":647,"type":572},"LFP is becoming an increasingly popular choice for western automakers, due to its lower cost, with Ford announcing plans to invest $3.5 billion ",{"text":649,"type":572,"marks":650},"to build a LFP plant",[651],{"type":577,"attrs":652},{"href":653,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://source.benchmarkminerals.com/article/ford-to-build-3-5-billion-us-lfp-battery-plant-using-catl-technology",{"text":655,"type":572}," in Michigan last month, using technology licensed by CATL. ",{"type":567,"attrs":657,"content":658},{"textAlign":49},[659],{"text":660,"type":572},"Elon Musk, chief executive of Tesla, said this month that “the vast majority of heavy lifting for electrification” could be done by LFP batteries, with nickel-based chemistries only needed for “aircrafts or boats or long range cars.” ",{"type":567,"attrs":662,"content":663},{"textAlign":49},[664],{"text":665,"type":572},"LFP cells are around 30% cheaper than high nickel 811 cells, including those outside of China, which are priced at $135.2/kWh, according to Benchmark. Prices for mid-nickel NCM523 cells were last assessed at $139.4/kWh. ",{"type":567,"attrs":667,"content":668},{"textAlign":49},[669],{"text":670,"type":572},"Still, despite the fall in lithium prices, prices for LFP batteries are still up by 51% over the past two years, according to Benchmark.","The price of lithium iron phosphate batteries in China fell to a 12 month low last month due to a rapid decline in domestic lithium prices, helping to reduce costs for automakers. The price of an average lithium iron phosphate prismatic cell in China has fallen 8% over the past year and now stands at […]",[673],{"slug":555,"name":556,"content":674},{"job_title":558,"image":675,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"942cc088-2995-4162-81d7-f81e5033dc44\", \"id\": \"\"}-->","article",[679,682,685],{"slug":680,"name":681},"batteries","Batteries",{"slug":683,"name":684},"battery-technology","Battery Technology",{"slug":686,"name":8},"lithium","private",{"id":49,"alt":604,"name":604,"focus":604,"title":604,"source":604,"filename":689,"copyright":604,"fieldtype":690,"meta_data":691,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/d5393970c1/bm-china-battery-factory.jpg","asset",{"alt":604,"title":604,"source":604,"copyright":604},"Mar 09, 2023","9th March 2023",[],[],1780670077440]