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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":724,"relatedVideos":725},112471021246773,"94139efe-3119-43e5-85f6-2affede93299","Chinese LFP cathode prices rise 11% as battery demand recovers","chinese-lfp-cathode-prices-rise-as-battery-demand-recovers","article/chinese-lfp-cathode-prices-rise-as-battery-demand-recovers",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":693,"featured":51,"reporter":694,"_editable":698,"component":699,"seo_title":543,"categories":700,"visibility":717,"author_company":49,"featured_image":718,"seo_description":693,"author_full_name":49,"author_job_title":49,"formattedDate":722,"formattedArticleDate":723},"e18c7d1d-d133-4d3c-9f6f-6fb7437efda5","2023-07-26 00:00",[550],{"slug":551,"name":552},"cathode-prices","Cathode prices",[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",[566,583,588,593,598,603,608,613,622,629,634,639,644,649,654,659,664,669,674,679,686],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570,573,581],{"text":571,"type":572},"Prices for lithium iron phosphate (LFP) ","text",{"text":574,"type":572,"marks":575},"cathode material",[576],{"type":577,"attrs":578},"link",{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://www.benchmarkminerals.com/price-assessments/cathode/portal/","url",{"text":582,"type":572}," in China rose by 11% over the past month due to an improvement in demand for electric vehicles in the country as well as energy storage systems. ",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"LFP cathode prices in China rose by 11.4% month-on-month as of mid July to an average of RMB 97,500 ($13,553) per tonne, according to Benchmark’s Cathode Market Assessment. Prices have increased 34% since mid-May.",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"China’s production of cheaper LFP batteries rose by 12% last month, from a month earlier, as contacts told Benchmark that demand from cell producers targeting the ESS market was high.",{"type":567,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":572},"Chinese domestic LFP cell production was 42.2 gigawatt hours in June, up about 11.6% on a month-on-month basis, according to China’s Automotive Battery Innovation Alliance. In comparison, nickel cobalt manganese (NCM) production was 17.7 gigawatt hours in June, down 4.8%.",{"type":567,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":572},"Chinese cathode producer Dynanonic said this week that downstream demand had recovered since May, and the company had improved its utilisation rate at its factories as a result. Prices for its products also improved in June, it said. ",{"type":567,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":572},"While battery grade lithium carbonate (EXW China) prices fell by 2% in the period 14 June – 12 July, iron phosphate prices within China increased, according to Benchmark. ",{"type":567,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":572},"“Improved recent demand for LFP cathode, as well as a marginal uptick in iron phosphate prices is the cause of the rise in LFP cathode material prices this month,” said Evan Hartley, analyst with Benchmark.",{"type":567,"attrs":614,"content":615},{"textAlign":49},[616],{"type":617,"attrs":618},"image",{"id":49,"alt":619,"src":620,"title":49,"source":49,"copyright":49,"meta_data":621},"","https://a.storyblok.com/f/287943243085208/04c1cf3b65/bm-lfp-cathode-prices-chart.png",{},{"type":623,"attrs":624,"content":626},"heading",{"level":625,"textAlign":49},4,[627],{"text":628,"type":572},"Rising lithium carbonate prices",{"type":567,"attrs":630,"content":631},{"textAlign":49},[632],{"text":633,"type":572},"Battery-grade lithium carbonate prices in China have risen by 29% since mid-May to RMB 304,000 ($42,250) per tonne, for the period ended July 19, according to Benchmark Lithium Price Assessment.",{"type":567,"attrs":635,"content":636},{"textAlign":49},[637],{"text":638,"type":572},"Contacts reported to Benchmark that some LFP manufacturers in China were looking to stock up on raw material, under concerns that Sichuan province might encounter power shutdowns, similar to those experienced in August 2022, if abnormally high temperatures hit the region.",{"type":623,"attrs":640,"content":641},{"level":625,"textAlign":49},[642],{"text":643,"type":572},"Overcapacity",{"type":567,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":572},"Despite the recent price increase, prices for LFP cathodes have fallen by 42% this year, according to Benchmark. ",{"type":567,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":572},"Chinese companies, especially Tier 2 and Tier 3 producers, continue to invest in LFP cathode capacity, however. The country has a pipeline LFP cathode capacity of almost 19 million tonnes a year, though it is expected many producers with ambitious LFP cathode plans will struggle to bring projects online, and utilise capacity, at the announced scale.",{"type":623,"attrs":655,"content":656},{"level":625,"textAlign":49},[657],{"text":658,"type":572},"Weaker NCM demand ",{"type":567,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":572},"The Benchmark Cathode Price Index, which includes the global weighted average price for all cathode grades, rose by 13.5% from a month earlier during the assessment period ended July 17.",{"type":567,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":572},"To determine the weighting of the index, Benchmark assesses market demand for each assessed cathode grade using the Benchmark cathode market forecast.",{"type":567,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":572},"High nickel NCM811 cathode material prices in the Chinese domestic market remained stable across June and July amidst a period of persistent weak demand.",{"type":567,"attrs":675,"content":676},{"textAlign":49},[677],{"text":678,"type":572},"Lithium hydroxide prices have fallen as a result. In the period 14 June – 12 July, Benchmark’s lithium hydroxide (EXW China) price fell 5.0%. ",{"type":567,"attrs":680,"content":681},{"textAlign":49},[682,684],{"text":683,"type":572},"Contacts reported to Benchmark that Tier 2 and Tier 3 producers",{"text":685,"type":572},"have reduced nickel based cathode production in the wake of low order volumes, and the expectation of limited future price increases.",{"type":567,"attrs":687,"content":688},{"textAlign":49},[689],{"type":617,"attrs":690},{"id":49,"alt":619,"src":691,"title":49,"source":49,"copyright":49,"meta_data":692},"https://a.storyblok.com/f/287943243085208/36dc500ab9/bm-ncm811-cathode-ddp-china-25july.png",{},"Prices for lithium iron phosphate (LFP) cathode material in China rose by 11% over the past month due to an improvement in demand for electric vehicles in the country as well as energy storage systems. LFP cathode prices in China rose by 11.4% month-on-month as of mid July to an average of RMB 97,500 ($13,553) […]",[695],{"slug":555,"name":556,"content":696},{"job_title":558,"image":697,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"e18c7d1d-d133-4d3c-9f6f-6fb7437efda5\", \"id\": \"\"}-->","article",[701,704,706,709,712,714],{"slug":702,"name":703},"batteries","Batteries",{"slug":705,"name":298},"cathode",{"slug":707,"name":708},"critical-minerals","Critical Minerals",{"slug":710,"name":711},"gigafactories","Battery & Gigafactory",{"slug":713,"name":8},"lithium",{"slug":715,"name":716},"phosphate","Phosphate","private",{"id":49,"alt":619,"name":619,"focus":619,"title":619,"source":619,"filename":719,"copyright":619,"fieldtype":720,"meta_data":721,"is_external_url":51},"https://wp-admin.benchmarkminerals.com/app/uploads/Cathode-scaled.jpg","asset",{"alt":619,"title":619,"source":619,"copyright":619},"Jul 26, 2023","26th July 2023",[],[],1783093132720]