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material","ecopro-signs-34-billion-deal-to-supply-samsung-with-cathode-material","article/ecopro-signs-34-billion-deal-to-supply-samsung-with-cathode-material",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":710,"featured":50,"reporter":711,"_editable":715,"component":716,"seo_title":543,"categories":717,"visibility":723,"author_company":49,"data_vis_image":724,"featured_image":728,"seo_description":710,"author_full_name":49,"author_job_title":49,"formattedDate":731,"formattedArticleDate":732},"7cda4ee3-6c13-45fe-b9fb-c50be76d6deb","2023-12-06 00:00",[550,553,556],{"slug":551,"name":552},"data-visualisation","Data Visualisation",{"slug":554,"name":555},"ecopro","EcoPro",{"slug":557,"name":558},"samsung","Samsung",[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",[572,579,594,606,611,620,632,637,645,650,663,668,677,685,698],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"South Korea’s Samsung SDI will purchase nickel cobalt aluminium (NCA) cathode materials from EcoPro BM, in a deal worth 43.9 trillion KRW ($34 billion).","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582,584,592],{"text":583,"type":578},"EcoPro is the largest producer of NCA cathode material globally, producing 34% of the global supply of the material last year, according to ",{"text":585,"type":578,"marks":586},"Benchmark’s Cathode Forecast",[587],{"type":588,"attrs":589},"link",{"href":590,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://www.benchmarkminerals.com/forecasts/cathode/reports","url",{"text":593,"type":578},".",{"type":573,"attrs":595,"content":596},{"textAlign":49},[597,599,605],{"text":598,"type":578},"The deal comes amidst falling cathode prices due to oversupply in China and weakening demand. NCA cathode material prices, specifically, fell 2.3% last month and 50.9% so far this year, on the back of falling raw material costs and persistent weak demand across end-use demand sectors, according to ",{"text":600,"type":578,"marks":601},"Benchmark’s Cathode Price Assessment",[602],{"type":588,"attrs":603},{"href":604,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://www.benchmarkminerals.com/price-assessments/cathode/portal",{"text":593,"type":578},{"type":573,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":578},"“This deal is very significant as the demand for EVs has slowed, causing automakers and battery producers to delay battery projects,” Anya Sidhu, an analyst at Benchmark, said.",{"type":573,"attrs":612,"content":613},{"textAlign":49},[614],{"type":615,"attrs":616},"image",{"id":49,"alt":617,"src":618,"title":49,"source":49,"copyright":49,"meta_data":619},"EcoPro BM leads global NCA production","https://a.storyblok.com/f/287943243085208/489e01073c/bm-nca-2022-producers.png",{},{"type":573,"attrs":621,"content":622},{"textAlign":49},[623,625,631],{"text":624,"type":578},"The supply contract is from the start of 2024 through to the end of 2028. After this period, the supply deal can continue and will be linked to raw material prices, according to a ",{"text":626,"type":578,"marks":627},"filing by EcoPro",[628],{"type":588,"attrs":629},{"href":630,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://englishdart.fss.or.kr/dsbh001/main.do?rcpNo=20231201900749",{"text":593,"type":578},{"type":573,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":578},"EcoPro are the primary suppliers of cathode material to Samsung. The two companies operate a joint venture NCA cathode production facility in North Gyeongsang, South Korea.",{"type":573,"attrs":638,"content":639},{"textAlign":49},[640],{"type":615,"attrs":641},{"id":49,"alt":642,"src":643,"title":49,"source":49,"copyright":49,"meta_data":644},"NCA prices have more than halved this year","https://a.storyblok.com/f/287943243085208/87ce8753b6/bm-nca-price-chart.png",{},{"type":573,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":578},"Samsung currently has 17.2 gigawatt-hours of cell production capacity and has 242.3 GWh in its 2030 pipeline. The largest gigafactory operated by Samsung is its Göd facility in Hungary which produces both NCA and nickel-cobalt-manganese (NCM) cells.",{"type":573,"attrs":651,"content":652},{"textAlign":49},[653,655,661],{"text":654,"type":578},"In October, ",{"text":656,"type":578,"marks":657},"Samsung signed a deal with Hyuandai",[658],{"type":588,"attrs":659},{"href":660,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/samsung-and-hyundais-first-battery-deal-targets-european-market",{"text":662,"type":578}," to supply the Korean automaker with NCA batteries from its facility in Hungary for seven years from 2026. These prismatic cells use a cathode made up of 91% nickel, as well as a silicon-based anode. ",{"type":573,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":578},"“NCA has a high energy density, similar to NCM, and has a good fast-charging capability, which is beneficial for use in EVs,” Sidhu said.",{"type":573,"attrs":669,"content":670},{"textAlign":49},[671,675],{"text":585,"type":578,"marks":672},[673],{"type":588,"attrs":674},{"href":590,"uuid":49,"anchor":49,"target":49,"linktype":591},{"text":676,"type":578}," shows that supply of NCA cathode material is expected to be sufficient to meet demand through to 2040. However, this is contingent on cathode producers having access to critical raw material supplies.",{"type":573,"attrs":678,"content":679},{"textAlign":49},[680],{"type":615,"attrs":681},{"id":49,"alt":682,"src":683,"title":49,"source":49,"copyright":49,"meta_data":684},"NCA market is forecast to have sufficient supply to meet demand","https://a.storyblok.com/f/287943243085208/22596892aa/bm-nca-market-balance-1.png",{},{"type":573,"attrs":686,"content":687},{"textAlign":49},[688,690,696],{"text":689,"type":578},"For NCA cathodes, lithium and cobalt could be constraining factors. Benchmark forecasts that the two metals will ",{"text":691,"type":578,"marks":692},"enter deficits",[693],{"type":588,"attrs":694},{"href":695,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/lithium-oversupply-not-likely-five-main-reasons-why",{"text":697,"type":578}," from 2028 and 2027, respectively.",{"type":573,"attrs":699,"content":700},{"textAlign":49},[701,703,709],{"text":702,"type":578},"EcoPro is also building a joint venture high-nickel NCM cathode production facility in Bécancour, Canada with ",{"text":704,"type":578,"marks":705},"Ford and SK Innovation",[706],{"type":588,"attrs":707},{"href":708,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/ford-ecopro-and-sk-on-turn-to-canadas-ev-battery-hub-for-cathode-factory",{"text":593,"type":578},"South Korea’s Samsung SDI will purchase nickel cobalt aluminium (NCA) cathode materials from EcoPro BM, in a deal worth 43.9 trillion KRW ($34 billion). EcoPro is the largest producer of NCA cathode material globally, producing 34% of the global supply of the material last year, according to Benchmark’s Cathode Forecast. The deal comes amidst falling […]",[712],{"slug":561,"name":562,"content":713},{"job_title":564,"image":714,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"7cda4ee3-6c13-45fe-b9fb-c50be76d6deb\", \"id\": \"\"}-->","article",[718,721],{"slug":719,"name":720},"batteries","Batteries",{"slug":722,"name":298},"cathode","private",{"id":49,"alt":617,"name":725,"focus":725,"title":617,"source":725,"filename":618,"copyright":725,"fieldtype":726,"meta_data":727,"is_external_url":51},"","asset",{"alt":617,"title":617,"source":725,"copyright":725},{"id":49,"alt":725,"name":725,"focus":725,"title":725,"source":725,"filename":729,"copyright":725,"fieldtype":726,"meta_data":730,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/0940b12ce8/bm-samsung-sdi.jpg",{"alt":725,"title":725,"source":725,"copyright":725},"Dec 06, 2023","6th December 2023",[],[],1781195693014]