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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":731,"relatedVideos":732},112471620799114,"e44f8314-48f6-4398-84e5-066fede55a8f","Chinese lithium prices almost halve from November peak as demand weakens","chinese-lithium-prices-almost-halve-from-november-peak-as-demand-weakens","article/chinese-lithium-prices-almost-halve-from-november-peak-as-demand-weakens",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":714,"featured":50,"reporter":715,"_editable":719,"component":720,"seo_title":543,"categories":721,"visibility":724,"author_company":49,"featured_image":725,"seo_description":714,"author_full_name":49,"author_job_title":49,"formattedDate":729,"formattedArticleDate":730},"fd4b8242-fc21-4206-817e-de15b6bf5870","2023-03-23 00:00",[550],{"slug":551,"name":552},"lithium-prices","Lithium 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",[566,583,588,593,598,607,614,619,624,629,634,639,644,649,654,659,664,669,674,687,692,699,704,709],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570,573,581],{"text":571,"type":572},"Chinese ","text",{"text":574,"type":572,"marks":575},"lithium spot prices",[576],{"type":577,"attrs":578},"link",{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://source.benchmarkminerals.com/video/watch/lithium-lithium-pricing","url",{"text":582,"type":572}," have almost halved since November and fell for the fifteenth straight week in late March as consumers held off buying material in the face of uncertainty over electric vehicle demand. ",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"Chinese battery-grade lithium carbonate prices have fallen 43% since hitting an all time high of RMB 569,000 ($81,965) a tonne in November, according to Benchmark Lithium Price Assessment. They fell by 8% over the past week, while lithium hydroxide prices dropped by 3.6%.  ",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"The falling prices have caused consumers to draw from depleting inventories instead of placing new orders on a spot basis. Traders are also holding back from engaging in market activity, as they wait to see if prices move lower – adding to weak demand in the spot market. ",{"type":567,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":572},"“Producers across the supply chain continue to destock inventories, weighing on demand and pressuring prices,” Daisy Jennings-Gray, an analyst at Benchmark, said. ",{"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/287943243085208/7f3fc24b13/bm-lithium-prices-graph-1.png",{},{"type":608,"attrs":609,"content":611},"heading",{"level":610,"textAlign":49},4,[612],{"text":613,"type":572},"China warns against EV price war ",{"type":567,"attrs":615,"content":616},{"textAlign":49},[617],{"text":618,"type":572},"Chinese electric vehicle producers have cut prices this year, sparking an escalating price war, in a bid to boost demand in the country. ",{"type":567,"attrs":620,"content":621},{"textAlign":49},[622],{"text":623,"type":572},"In addition, China’s largest battery producer CATL has also offered select customers cheaper battery prices in return for guaranteed orders, in a bid to secure sales. ",{"type":567,"attrs":625,"content":626},{"textAlign":49},[627],{"text":628,"type":572},"The China Association of Automobile Manufacturers warned the industry against cutting prices further this week. ",{"type":567,"attrs":630,"content":631},{"textAlign":49},[632],{"text":633,"type":572},"“Cutting inventories and recovering costs are acceptable business practices, but attention should be paid to prevent such acts from devolving into price wars,” it said.",{"type":567,"attrs":635,"content":636},{"textAlign":49},[637],{"text":638,"type":572},"EV producers also face growing competition from internal combustion engines after a few traditional automakers in China have offered as much as 50% discounts in a bid to move excess inventory ahead of new emissions norms expected to come into effect in July.",{"type":567,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":572},"BYD, China’s largest electric vehicle producer, has reduced shifts at two of its assembly plants in China, Reuters reported this week.",{"type":567,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":572},"Chinese electric vehicle maker Nio recently said it believes there is room for more price declines for lithium.",{"type":567,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":572},"“And starting from this year, we are going to see more output from the upstream capacities,” William Li, CEO, Nio, told analysts in an earnings call earlier this month.",{"type":567,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":572},"“At the same time, considering the market demand, we believe the demand probably is not going to be strong compared with the past. But if we balance the supply and the demand regarding the lithium carbonate, probably in the fourth quarter of this year it is quite likely the lithium carbonate will go down to around 200,000 RMB a tonne or even lower,” Li said.",{"type":608,"attrs":660,"content":661},{"level":610,"textAlign":49},[662],{"text":663,"type":572},"China’s lithium weakness spreads to Asia",{"type":567,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":572},"The impact of price decline in China is also being felt in ex-China spot prices which have begun to fall but are still at a premium. CIF Asia spot lithium carbonate prices fell by 9% over the past week, according to Benchmark, to $57,500 a tonne.",{"type":567,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":572},"Excess lithium carbonate material has been offered at lower prices into Japan and South Korea from both Chinese producers and traders, as well as South American incumbents looking to shift spot volumes amid weak demand from customers in China.",{"type":567,"attrs":675,"content":676},{"textAlign":49},[677,679,685],{"text":678,"type":572},"The market is also set to see ",{"text":680,"type":572,"marks":681},"more supply",[682],{"type":577,"attrs":683},{"href":684,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://source.benchmarkminerals.com/video/watch/lithium-filling-the-supply-gap",{"text":686,"type":572}," from China’s brines in Qinghai as well as domestic lepidolite resources this year. ",{"type":567,"attrs":688,"content":689},{"textAlign":49},[690],{"text":691,"type":572},"Still, any uptick in demand in China will see already low-level inventories deplete further, possibly stabilising prices in the second quarter, which is typically a stronger quarter for demand, according to Jennings-Gray.  ",{"type":608,"attrs":693,"content":694},{"level":610,"textAlign":49},[695,697],{"text":696,"type":572},"Lithium hydroxide premium",{"text":698,"type":572}," endures",{"type":567,"attrs":700,"content":701},{"textAlign":49},[702],{"text":703,"type":572},"Lithium carbonate prices have endured the brunt of the downturn this year, however, with lithium hydroxide prices remaining more stable. ",{"type":567,"attrs":705,"content":706},{"textAlign":49},[707],{"text":708,"type":572},"The domestic lithium hydroxide price premium over lithium carbonate widened further to RMB 74,000/tonne ($10,725) this month, with contacts reporting that more stable spodumene prices were squeezing hydroxide converter margins.",{"type":567,"attrs":710,"content":711},{"textAlign":49},[712],{"text":713,"type":572},"Spodumene concentrate pricing fell only 6% between 8 March and 22 March to $5,050/tonne (FOB Australia), with transactions recorded between $4,600-5,500/tonne.","Chinese lithium spot prices have almost halved since November and fell for the fifteenth straight week in late March as consumers held off buying material in the face of uncertainty over electric vehicle demand. Chinese battery-grade lithium carbonate prices have fallen 43% since hitting an all time high of RMB 569,000 ($81,965) a tonne in […]",[716],{"slug":555,"name":556,"content":717},{"job_title":558,"image":718,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"fd4b8242-fc21-4206-817e-de15b6bf5870\", \"id\": \"\"}-->","article",[722],{"slug":723,"name":8},"lithium","private",{"id":49,"alt":604,"name":604,"focus":604,"title":604,"source":604,"filename":726,"copyright":604,"fieldtype":727,"meta_data":728,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/385f074804/bm-lithium-nevada.jpg","asset",{"alt":604,"title":604,"source":604,"copyright":604},"Mar 23, 2023","23rd March 2023",[],[],1782484964516]