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lithium prices continue to decline as hydroxide falls below $20,000 a tonne  ","chinese-lithium-prices-continue-to-decline-as-hydroxide-falls-below-20000-a-tonne","article/chinese-lithium-prices-continue-to-decline-as-hydroxide-falls-below-20000-a-tonne",{"_uid":557,"date":558,"tags":559,"editor":566,"content":576,"excerpt":746,"featured":50,"reporter":747,"_editable":751,"component":752,"seo_title":553,"categories":753,"visibility":759,"author_company":49,"featured_image":760,"seo_description":746,"author_full_name":49,"author_job_title":49,"formattedDate":764,"formattedArticleDate":765},"97894c9d-a825-4693-bb3f-96db6dafbe44","2023-11-28 00:00",[560,563],{"slug":561,"name":562},"china","China",{"slug":564,"name":565},"lithium-prices","Lithium prices",[567],{"slug":568,"name":569,"content":570},"matthew-bird","Matthew Bird",{"job_title":571,"image":572,"bio":574,"linkedin":575},"Senior Editor - Supply Chains & Data Visualisation",{"filename":573},"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":577,"content":578},"doc",[579,586,601,614,633,638,643,650,661,666,675,680,693,698,703,708,713,734],{"type":580,"attrs":581,"content":582},"paragraph",{"textAlign":49},[583],{"text":584,"type":585},"Chinese lithium prices continued to decline this month, with lithium hydroxide prices falling to RMB 134,000 ($18,750) a tonne, their lowest levels in over two years. ","text",{"type":580,"attrs":587,"content":588},{"textAlign":49},[589,591,599],{"text":590,"type":585},"Spot prices for Chinese lithium hydroxide have fallen by 76% year-to-date, according to ",{"text":592,"type":585,"marks":593},"Benchmark’s Lithium Price Assessment",[594],{"type":595,"attrs":596},"link",{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://www.benchmarkminerals.com/price-assessments/lithium/reports/","url",{"text":600,"type":585},".",{"type":580,"attrs":602,"content":603},{"textAlign":49},[604,606,612],{"text":605,"type":585},"Hydroxide has been particularly hard hit due to the continued demand preference for ",{"text":607,"type":585,"marks":608},"lithium iron phosphate (LFP) cathodes",[609],{"type":595,"attrs":610},{"href":611,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/ncm-and-lfp-the-battle-for-cathode-chemistry-dominance",{"text":613,"type":585}," in batteries over high-nickel nickel cobalt manganese (NCM) cathodes.",{"type":580,"attrs":615,"content":616},{"textAlign":49},[617,623,625,631],{"text":618,"type":585,"marks":619},"Benchmark’s Cathode Forecast",[620],{"type":595,"attrs":621},{"href":622,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://www.benchmarkminerals.com/forecasts/cathode/reports/",{"text":624,"type":585}," estimates that China’s LFP share will grow ",{"text":626,"type":585,"marks":627},"from 56% last year to 61%",[628],{"type":595,"attrs":629},{"href":630,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/three-reasons-why-chinas-ev-market-is-still-strong",{"text":632,"type":585}," in 2024.",{"type":580,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":585},"Spot prices for battery-grade lithium carbonate prices in China declined 5.4% in the week ending November 22 to an average of RMB 140,000 ($19,600) a tonne. Chinese lithium carbonate prices are down 74% so far this year.",{"type":580,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":585},"“Bearish price sentiment in China is having the biggest effect. But also limited spot market interest from buyers and consistent upstream supply,” said Adam Megginson, lithium analyst at Benchmark.",{"type":644,"attrs":645,"content":647},"heading",{"level":646,"textAlign":49},4,[648],{"text":649,"type":585},"Cathode buyers hold off",{"type":580,"attrs":651,"content":652},{"textAlign":49},[653,655,660],{"text":654,"type":585},"As a result of lower-than-expected demand and robust lithium supply, cathode makers in China could cut production by between 10% to 15% throughout December, according to the ",{"text":656,"type":585,"marks":657},"Benchmark Lithium Price Assessment",[658],{"type":595,"attrs":659},{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":598},{"text":600,"type":585},{"type":580,"attrs":662,"content":663},{"textAlign":49},[664],{"text":665,"type":585},"“Cathode makers have sufficient volumes already being delivered under contracts, that they don’t need to purchase additional volumes on the spot market, hence falling spot market prices,” said Megginson.",{"type":580,"attrs":667,"content":668},{"textAlign":49},[669],{"type":670,"attrs":671},"image",{"id":49,"alt":672,"src":673,"title":49,"source":49,"copyright":49,"meta_data":674},"","https://a.storyblok.com/f/287943243085208/fd5485a75f/bm-china-lithium-prices-november-2.png",{},{"type":644,"attrs":676,"content":677},{"level":646,"textAlign":49},[678],{"text":679,"type":585},"China’s price decline could get worse",{"type":580,"attrs":681,"content":682},{"textAlign":49},[683,685,691],{"text":684,"type":585},"Most market participants are expecting lithium prices to ",{"text":686,"type":585,"marks":687},"fall throughout December",[688],{"type":595,"attrs":689},{"href":690,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/oems-and-battery-makers-on-alert-as-lower-lithium-prices-to-push-into-2024-benchmark",{"text":692,"type":585}," while some expect prices to stabilise around RMB 100,000 a tonne.",{"type":580,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":585},"“The dynamics that are leading to current price falls persist. The first quarter is typically a more bearish period for lithium demand from the electric vehicle end market, and lithium prices are often weaker in the quarter as a result,” Megginson said.",{"type":580,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":585},"Earlier this month, SQM’s chief executive Ricardo Ramos told investors in a post earnings call that excess inventories as well as additional supply have been negatively affecting buying activity. Ramos said he expects price decline could continue for the rest of the year.",{"type":644,"attrs":704,"content":705},{"level":646,"textAlign":49},[706],{"text":707,"type":585},"Limiting future supply",{"type":580,"attrs":709,"content":710},{"textAlign":49},[711],{"text":712,"type":585},"Falling lithium prices have drawn concerns from lithium producers.",{"type":580,"attrs":714,"content":715},{"textAlign":49},[716,718,724,726,732],{"text":717,"type":585},"Lithium producer ",{"text":719,"type":585,"marks":720},"Allkem’s chief sales and marketing officer Christian Barbier said",[721],{"type":595,"attrs":722},{"href":723,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/low-lithium-prices-risk-delaying-investment-in-new-supply-allkem-says",{"text":725,"type":585}," during a keynote presentation at Benchmark Week that the falling lithium prices could delay investment in ",{"text":727,"type":585,"marks":728},"new mines that will be needed",[729],{"type":595,"attrs":730},{"href":731,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/chinese-lithium-prices-fall-below-rmb-200000-a-tonne-putting-pressure-on-domestic-mines",{"text":733,"type":585}," to meet rising demand this decade.",{"type":580,"attrs":735,"content":736},{"textAlign":49},[737,739,745],{"text":738,"type":585},"Despite recent surpluses, lithium supplies are expected to enter an era of deficit from 2028 onwards as electric vehicle adoption picks up pace, according to the ",{"text":740,"type":585,"marks":741},"Benchmark Lithium Forecast",[742],{"type":595,"attrs":743},{"href":744,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://www.benchmarkminerals.com/forecasts/lithium/reports/",{"text":600,"type":585},"Chinese lithium prices continued to decline this month, with lithium hydroxide prices falling to RMB 134,000 ($18,750) a tonne, their lowest levels in over two years. Spot prices for Chinese lithium hydroxide have fallen by 76% year-to-date, according to Benchmark’s Lithium Price Assessment. Hydroxide has been particularly hard hit due to the continued demand preference […]",[748],{"slug":568,"name":569,"content":749},{"job_title":571,"image":750,"bio":574,"linkedin":575},{"filename":573},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"97894c9d-a825-4693-bb3f-96db6dafbe44\", \"id\": \"\"}-->","article",[754,757],{"slug":755,"name":756},"critical-minerals","Critical Minerals",{"slug":758,"name":8},"lithium","private",{"id":49,"alt":672,"name":672,"focus":672,"title":672,"source":672,"filename":761,"copyright":672,"fieldtype":762,"meta_data":763,"is_external_url":51},"https://wp-admin.benchmarkminerals.com/app/uploads/Lithium-prices-Photograph-scaled.jpg","asset",{"alt":672,"title":672,"source":672,"copyright":672},"Nov 28, 2023","28th November 2023",[],[],1792773907542]