[{"data":1,"prerenderedAt":856},["ShallowReactive",2],{"ticker-data":3,"story-article/how-is-the-ex-china-apac-region-position-in-the-global-battery-supply-chain-evolving":550},[4,52,82,112,148,186,229,261,297,336,378,419,460,490,520],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-14","2wk","Updated every 2 weeks","Lithium",317.07,322.34,-1.64,35.66,90.62,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-09-30",{"date":19,"value":20},"2026-09-16",354.99,{"date":22,"value":23},"2026-09-02",385.07,{"date":25,"value":26},"2026-08-19",372.67,{"date":28,"value":29},"2026-08-05",367.54,{"date":31,"value":32},"2026-07-22",388.26,{"date":34,"value":35},"2026-07-08",399.4,{"date":37,"value":38},"2026-06-24",410.62,{"date":40,"value":41},"2026-06-10",427.77,{"date":43,"value":44},"2026-05-27",449.85,{"date":46,"value":47},"2026-05-13",451.12,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",256.83,278.71,-7.85,1.12,46.89,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},300.39,{"date":22,"value":65},306.07,{"date":25,"value":67},297.22,{"date":28,"value":69},296.63,{"date":31,"value":71},309.38,{"date":34,"value":73},317.2,{"date":37,"value":75},330.54,{"date":40,"value":77},346.5,{"date":43,"value":79},358.35,{"date":46,"value":81},350.28,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",292.05,311.1,-6.12,43.7,92,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},339.85,{"date":22,"value":95},352.45,{"date":25,"value":97},341.12,{"date":28,"value":99},337.87,{"date":31,"value":101},354.36,{"date":34,"value":103},364.06,{"date":37,"value":105},376.67,{"date":40,"value":107},393.29,{"date":43,"value":109},411.01,{"date":46,"value":111},408.51,{"publishedDate":5,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",171.41,173.83,-1.39,-27.13,-1.06,[122,123,125,126,129,131,133,136,138,141,142,145],{"date":5,"value":116},{"date":124,"value":117},"2026-10-07",{"date":17,"value":117},{"date":127,"value":128},"2026-09-23",175.44,{"date":19,"value":130},178.66,{"date":22,"value":132},189.92,{"date":134,"value":135},"2026-08-26",192.6,{"date":25,"value":137},199.83,{"date":139,"value":140},"2026-08-12",217.25,{"date":28,"value":140},{"date":143,"value":144},"2026-07-29",221.25,{"date":31,"value":146},224.44,"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-21","Nickel",107.13,114.04,-6.06,-11.27,-0.65,[157,158,159,161,164,166,168,170,173,176,179,182],{"date":149,"value":151},{"date":124,"value":152},{"date":127,"value":160},116.1,{"date":162,"value":163},"2026-09-09",119.13,{"date":134,"value":165},119.61,{"date":139,"value":167},121.04,{"date":143,"value":169},121.19,{"date":171,"value":172},"2026-07-15",122.66,{"date":174,"value":175},"2026-07-01",125.61,{"date":177,"value":178},"2026-06-17",131.5,{"date":180,"value":181},"2026-06-03",134.65,{"date":183,"value":184},"2026-05-20",135.83,"/nickel/prices",{"publishedDate":17,"updateFrequency":187,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":228,"subscription":49,"isProtected":50,"hasAccess":51},"1mo","Updated every month","Natural Graphite",78.45,80.18,-2.16,-3.84,-4.03,[196,197,199,202,205,208,211,214,217,220,223,226],{"date":17,"value":190},{"date":198,"value":191},"2026-08-28",{"date":200,"value":201},"2026-07-31",80.66,{"date":203,"value":204},"2026-06-30",82.87,{"date":206,"value":207},"2026-05-29",82.99,{"date":209,"value":210},"2026-04-30",82.93,{"date":212,"value":213},"2026-03-31",82.39,{"date":215,"value":216},"2026-02-27",81.92,{"date":218,"value":219},"2026-01-30",81.69,{"date":221,"value":222},"2025-12-31",81.58,{"date":224,"value":225},"2025-11-28",81.35,{"date":227,"value":225},"2025-10-31","/natural-graphite/prices",{"publishedDate":17,"updateFrequency":187,"updateFrequencyText":188,"label":230,"today":231,"last":232,"percentageChange":233,"yearToDate":234,"yearOnYear":235,"oneYearIndexTrend":236,"url":260,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",86.15,81.86,5.24,15.73,19.78,[237,238,239,241,242,244,246,248,250,252,254,257],{"date":17,"value":231},{"date":200,"value":232},{"date":203,"value":240},80.54,{"date":206,"value":240},{"date":209,"value":243},84.01,{"date":212,"value":245},79.79,{"date":215,"value":247},75.72,{"date":218,"value":249},74.61,{"date":221,"value":251},74.44,{"date":227,"value":253},72.75,{"date":255,"value":256},"2025-09-30",71.92,{"date":258,"value":259},"2025-08-29",71.46,"/synthetic-graphite/prices",{"publishedDate":262,"updateFrequency":187,"updateFrequencyText":188,"label":263,"today":264,"last":265,"percentageChange":266,"yearToDate":267,"yearOnYear":268,"oneYearIndexTrend":269,"url":296,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-15","Anode",80.45,80.24,0.27,1.81,3.2,[270,271,273,275,276,278,281,284,287,289,291,293],{"date":262,"value":264},{"date":272,"value":265},"2026-09-15",{"date":274,"value":265},"2026-08-17",{"date":171,"value":265},{"date":277,"value":265},"2026-06-15",{"date":279,"value":280},"2026-05-15",79.16,{"date":282,"value":283},"2026-04-15",81.98,{"date":285,"value":286},"2026-03-16",79.03,{"date":288,"value":286},"2026-02-16",{"date":290,"value":286},"2026-01-15",{"date":292,"value":286},"2025-12-15",{"date":294,"value":295},"2025-11-17",77.79,"/anode/prices",{"publishedDate":298,"updateFrequency":187,"updateFrequencyText":188,"label":299,"today":300,"last":301,"percentageChange":302,"yearToDate":303,"yearOnYear":304,"oneYearIndexTrend":305,"url":335,"subscription":49,"isProtected":50,"hasAccess":51},"2026-08-01","Cathode",73.32,77.21,-5.04,14.41,55.07,[306,307,308,311,314,317,320,323,325,327,329,332],{"date":298,"value":300},{"date":174,"value":301},{"date":309,"value":310},"2026-06-01",80.32,{"date":312,"value":313},"2026-05-01",81.71,{"date":315,"value":316},"2026-04-01",77.27,{"date":318,"value":319},"2026-03-01",81.99,{"date":321,"value":322},"2026-02-01",80.5,{"date":290,"value":324},72.79,{"date":292,"value":326},64.08,{"date":294,"value":328},62.01,{"date":330,"value":331},"2025-10-15",53.51,{"date":333,"value":334},"2025-09-15",49.5,"/cathode/prices",{"publishedDate":337,"updateFrequency":187,"updateFrequencyText":188,"label":338,"today":339,"last":340,"percentageChange":341,"yearToDate":342,"yearOnYear":343,"oneYearIndexTrend":344,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[345,346,348,351,354,357,360,363,366,368,371,374],{"date":337,"value":339},{"date":347,"value":340},"2025-02-28",{"date":349,"value":350},"2025-01-31",71.45,{"date":352,"value":353},"2024-12-31",75.74,{"date":355,"value":356},"2024-11-29",76.98,{"date":358,"value":359},"2024-10-31",77.34,{"date":361,"value":362},"2024-09-30",77.43,{"date":364,"value":365},"2024-08-30",80.56,{"date":367,"value":207},"2024-07-31",{"date":369,"value":370},"2024-06-28",87.2,{"date":372,"value":373},"2024-05-31",90.7,{"date":375,"value":376},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":379,"updateFrequency":6,"updateFrequencyText":7,"label":380,"today":381,"last":382,"percentageChange":383,"yearToDate":384,"yearOnYear":385,"oneYearIndexTrend":386,"url":418,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-08","Black Mass",37.11,38.95,-4.72,-14,18.31,[387,388,390,393,396,399,402,405,408,411,414,416],{"date":379,"value":381},{"date":389,"value":382},"2026-09-24",{"date":391,"value":392},"2026-09-10",42.03,{"date":394,"value":395},"2026-08-27",43.88,{"date":397,"value":398},"2026-08-13",42.33,{"date":400,"value":401},"2026-07-30",43.42,{"date":403,"value":404},"2026-07-16",46.74,{"date":406,"value":407},"2026-07-02",46.01,{"date":409,"value":410},"2026-06-18",49.57,{"date":412,"value":413},"2026-02-12",47.34,{"date":415,"value":410},"2026-01-29",{"date":290,"value":417},43.15,"/recycling/black-mass-prices",{"publishedDate":262,"updateFrequency":187,"updateFrequencyText":188,"label":420,"today":421,"last":422,"percentageChange":423,"yearToDate":424,"yearOnYear":425,"oneYearIndexTrend":426,"url":459,"subscription":49,"isProtected":50,"hasAccess":51},"Rare Earths",172.08,171.72,0.21,20.59,30.21,[427,428,430,433,436,439,442,445,448,451,454,457],{"date":262,"value":421},{"date":429,"value":422},"2026-10-01",{"date":431,"value":432},"2026-09-03",170.83,{"date":434,"value":435},"2026-08-20",169.63,{"date":437,"value":438},"2026-08-06",172.28,{"date":440,"value":441},"2026-07-23",173.94,{"date":443,"value":444},"2026-07-09",171.69,{"date":446,"value":447},"2026-06-25",168.55,{"date":449,"value":450},"2026-06-11",165,{"date":452,"value":453},"2026-05-28",163.89,{"date":455,"value":456},"2026-05-14",172.63,{"date":209,"value":458},175.6,"/rare-earths/prices",{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":461,"today":462,"last":463,"percentageChange":464,"yearToDate":465,"yearOnYear":466,"oneYearIndexTrend":467,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",152.7,162.48,-6.02,17.38,53.11,[468,469,470,472,474,476,478,480,482,484,486,488],{"date":198,"value":462},{"date":200,"value":463},{"date":203,"value":471},171.08,{"date":206,"value":473},173.65,{"date":209,"value":475},164.53,{"date":212,"value":477},157.28,{"date":215,"value":479},151.44,{"date":218,"value":481},144.5,{"date":221,"value":483},130.09,{"date":224,"value":485},124.6,{"date":227,"value":487},122.35,{"date":255,"value":489},103.5,{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":491,"today":492,"last":493,"percentageChange":494,"yearToDate":495,"yearOnYear":496,"oneYearIndexTrend":497,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",144.45,149.67,-3.49,26.69,49.06,[498,499,500,502,504,506,508,510,512,514,516,518],{"date":198,"value":492},{"date":200,"value":493},{"date":203,"value":501},157.37,{"date":206,"value":503},160,{"date":209,"value":505},149.53,{"date":212,"value":507},141.97,{"date":215,"value":509},136.99,{"date":218,"value":511},129.81,{"date":221,"value":513},114.02,{"date":224,"value":515},109.17,{"date":227,"value":517},109.02,{"date":255,"value":519},99.44,{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":521,"today":522,"last":523,"percentageChange":524,"yearToDate":525,"yearOnYear":526,"oneYearIndexTrend":527,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",229.17,218.34,4.96,49.35,83.44,[528,529,530,532,534,536,538,540,542,544,546,548],{"date":198,"value":522},{"date":200,"value":523},{"date":203,"value":531},239.1,{"date":206,"value":533},258.32,{"date":209,"value":535},239.37,{"date":212,"value":537},213.01,{"date":215,"value":539},204.49,{"date":218,"value":541},218.06,{"date":221,"value":543},153.45,{"date":224,"value":545},134.02,{"date":227,"value":547},118.22,{"date":255,"value":549},111.93,{"id":551,"uuid":552,"name":553,"slug":554,"full_slug":555,"content":556,"relatedArticles":854,"relatedVideos":855},112469106803793,"46f100bf-123b-4413-8b7e-7ed2f9b2351e","Why the ex-China APAC region is a key cathode supply hub for North America","how-is-the-ex-china-apac-region-position-in-the-global-battery-supply-chain-evolving","article/how-is-the-ex-china-apac-region-position-in-the-global-battery-supply-chain-evolving",{"_uid":557,"date":558,"tags":559,"editor":569,"content":579,"excerpt":832,"featured":51,"reporter":833,"_editable":837,"component":838,"seo_title":553,"categories":839,"visibility":847,"author_company":49,"featured_image":848,"seo_description":832,"author_full_name":49,"author_job_title":49,"formattedDate":852,"formattedArticleDate":853},"46bb2ebb-a6c9-4c91-9e0b-44dcf89600d6","2024-08-22 00:00",[560,563,566],{"slug":561,"name":562},"australia","Australia",{"slug":564,"name":565},"japan","Japan",{"slug":567,"name":568},"south-korea","South Korea",[570],{"slug":571,"name":572,"content":573},"matthew-bird","Matthew Bird",{"job_title":574,"image":575,"bio":577,"linkedin":578},"Senior Editor - Supply Chains & Data Visualisation",{"filename":576},"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":580,"content":581},"doc",[582,621,626,637,642,649,661,670,681,693,706,711,724,731,736,741,748,753,758,771,782,787,792,797,808,813],{"type":583,"attrs":584,"content":585},"paragraph",{"textAlign":49},[586,589,597,599,605,607,613,615],{"text":587,"type":588},"China is a battery supply chain behemoth. Composing 85% of global ","text",{"text":590,"type":588,"marks":591},"lithium ion battery cell production",[592],{"type":593,"attrs":594},"link",{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/lithium-ion-batteries/portal/","url",{"text":598,"type":588},", 80% of ",{"text":600,"type":588,"marks":601},"cathode",[602],{"type":593,"attrs":603},{"href":604,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/cathode/portal/",{"text":606,"type":588}," production, and 65% of ",{"text":608,"type":588,"marks":609},"lithium",[610],{"type":593,"attrs":611},{"href":612,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/lithium/portal/",{"text":614,"type":588}," refining in 2024, ",{"text":616,"type":588,"marks":617},"China’s dominance is pervasive across the breadth of the value chain.",[618],{"type":593,"attrs":619},{"href":620,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/how-much-of-the-global-battery-supply-chain-is-owned-by-chinese-companies",{"type":583,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":588},"Beyond its borders, however, the Asia Pacific (APAC) region represents one of the fastest growing hubs for battery-related investments, buoyed by robust long-term battery demand prospects and a supportive policy regime in the US.",{"type":583,"attrs":627,"content":628},{"textAlign":49},[629,631],{"text":630,"type":588},"“Over the last two years, it is difficult to ignore the impacts that the US Inflation Reduction Act (IRA) and the broader North American context has had on the battery supply chain,” said Evan Hartley, research manager at Benchmark, ",{"text":632,"type":588,"marks":633},"delivering Benchmark’s Giga APAC preview webinar last week.",[634],{"type":593,"attrs":635},{"href":636,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/video/watch/giga-asia-pacific-2024-preview-zeroing-in-on-the-regions-critical-mineral-supply-for-lithium-ion-batteries-and-electric-vehicles",{"type":583,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":588},"“We’re not just seeing domestic capacity and investment growth in the US and Canada; there has also been significant investments in countries like South Korea, Indonesia, and Japan, where factories are being built out with a view to supply the North American market,” Hartley added.",{"type":643,"attrs":644,"content":646},"heading",{"level":645,"textAlign":49},4,[647],{"text":648,"type":588},"Ex-China APAC region receives post-IRA midstream investment boost",{"type":583,"attrs":650,"content":651},{"textAlign":49},[652,654,659],{"text":653,"type":588},"Following the IRA’s enactment, the APAC region (excluding China) has witnessed a significant influx of midstream stage investments within the battery value chain. According to ",{"text":655,"type":588,"marks":656},"Benchmark",[657],{"type":593,"attrs":658},{"href":604,"uuid":49,"anchor":49,"target":49,"linktype":596},{"text":660,"type":588},", projections for cathode production in the region by 2030 have risen 126% since the passage of the landmark climate legislation in late 2022.",{"type":583,"attrs":662,"content":663},{"textAlign":49},[664],{"type":665,"attrs":666},"image",{"id":49,"alt":667,"src":668,"title":49,"source":49,"copyright":49,"meta_data":669},"","https://lh7-rt.googleusercontent.com/docsz/AD_4nXc77x8r7YQe8UPKtqp8DJq6N_3bTKXpvGXt1gCxnmbAsIZ1DG_wJoCoDqW6W5zFQ-Nxh9A4SG9bNEPx_OmZrTgCr4iBINqWHwJawA7WPFXCj8j2ec2qKtVqjkq2VAPJMWBTAwd0siLjUNn1rKeTBPEQt14?key=WM8EXIi4POkRiW2HhiUI0A",{},{"type":583,"attrs":671,"content":672},{"textAlign":49},[673,675],{"text":674,"type":588},"Owing to its free trade agreement (FTA) with the US, ",{"text":676,"type":588,"marks":677},"South Korea has seen the largest inflow of capital; notching up $5 billion of battery precursor and cathode investment alone in 2023.",[678],{"type":593,"attrs":679},{"href":680,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/south-koreas-5-billion-pcam-and-cathode-building-boom",{"type":583,"attrs":682,"content":683},{"textAlign":49},[684,686,691],{"text":685,"type":588},"Japanese and South Korean battery makers have prioritised North America capacity expansions to take advantage of IRA incentives and are ",{"text":687,"type":588,"marks":688},"due to account (including minority partnerships) for 64% of US battery cell production by 2030",[689],{"type":593,"attrs":690},{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":596},{"text":692,"type":588}," – building out the corresponding IRA-compliant supply chains in Asia.",{"type":583,"attrs":694,"content":695},{"textAlign":49},[696,698,704],{"text":697,"type":588},"These investments are positioning the APAC region as a lynchpin for the US battery ambitions. ",{"text":699,"type":588,"marks":700},"Benchmark estimates less than one quarter of US gigafactory cathode material demand will be met by domestic plants ",[701],{"type":593,"attrs":702},{"href":703,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/how-is-the-post-ira-cathode-landscape-evolving",{"text":705,"type":588},", with this supply deficit set to be filled by imports from FTA partners in the APAC region.",{"type":643,"attrs":707,"content":708},{"level":645,"textAlign":49},[709],{"text":710,"type":588},"Diversifying from China a challenge",{"type":583,"attrs":712,"content":713},{"textAlign":49},[714,716,722],{"text":715,"type":588},"Despite efforts to decrease supply chain risk by reducing exposure to China, ",{"text":717,"type":588,"marks":718},"Benchmark data",[719],{"type":593,"attrs":720},{"href":721,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/cathode/data-reports/market-assessments/",{"text":723,"type":588}," reveals that battery precursor capacity in the ex-China APAC region will account for just 54% of corresponding cathode capacity by 2030, leaving cathode producers reliant on imports of battery precursor material from China.",{"type":583,"attrs":725,"content":726},{"textAlign":49},[727],{"type":665,"attrs":728},{"id":49,"alt":667,"src":729,"title":49,"source":49,"copyright":49,"meta_data":730},"https://lh7-rt.googleusercontent.com/docsz/AD_4nXfOPRVF5FoC9brPTkmLLfgBdljn_ftN3rKtqXpvnOB-_JgIsEWgShCyNiE1SCyHl0ALLFZK_5LbQmD-RpBZHonKTDQf8BZZPt8www0QPi7xP4uFoL_AH3CJNXZCe_20MZietMIoSB3jWwXKcDLLfHwx0d0?key=WM8EXIi4POkRiW2HhiUI0A",{},{"type":583,"attrs":732,"content":733},{"textAlign":49},[734],{"text":735,"type":588},"Several of South Korea’s leading cathode players have long-standing battery precursor agreements in place with Chinese firms, in the form of either supply contracts or joint venture partnerships. ",{"type":583,"attrs":737,"content":738},{"textAlign":49},[739],{"text":740,"type":588},"In August, EcoPro BM agreed to procure an additional 265,000 tonnes of battery precursor from China’s GEM as it expands cathode capacity, extending an existing partnership between the two companies. LG Chem and Posco Chemical have similar such tie-ups in place.",{"type":583,"attrs":742,"content":743},{"textAlign":49},[744],{"type":665,"attrs":745},{"id":49,"alt":667,"src":746,"title":49,"source":49,"copyright":49,"meta_data":747},"https://lh7-rt.googleusercontent.com/docsz/AD_4nXcuq7NAGgSyY_POxwz3ADEW_HvVjfL4MsMyataYzQXXz44J4qv42QiuQepVDU12endyzxSJra2T97IqchQfcklHrWW-K2KvvGPoXcfc0iABbDviYre6lx6vMORF6pYpVgUaXdvdkqdnBUEAgUzxgqjBtTo?key=WM8EXIi4POkRiW2HhiUI0A",{},{"type":583,"attrs":749,"content":750},{"textAlign":49},[751],{"text":752,"type":588},"China maintains an inherent cost advantage at this step of the battery value chain, owing to the economic benefits of vertically integrated supply chains. Chinese firms have invested heavily across Indonesia and the Democratic Republic of Congo in recent years, guaranteeing access to the nickel, cobalt, and manganese resources required to support large-scale battery precursor production.",{"type":643,"attrs":754,"content":755},{"level":645,"textAlign":49},[756],{"text":757,"type":588},"Cost the key differential ",{"type":583,"attrs":759,"content":760},{"textAlign":49},[761,763,769],{"text":762,"type":588},"While the IRA promises generous incentives for Asian companies pivoting towards the North American market, the stringent nature of ",{"text":764,"type":588,"marks":765},"foreign entity of concern (FEOC) rules",[766],{"type":593,"attrs":767},{"href":768,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/video/watch/usa-and-the-battery-to-ev-supply-chain-new-ira-feoc-rules-and-the-impact",{"text":770,"type":588}," could prove a stumbling block to scaling the APAC supply chain.",{"type":583,"attrs":772,"content":773},{"textAlign":49},[774,780],{"text":775,"type":588,"marks":776},"South Korean battery players have warned that FEOC restrictions on China may leave them struggling to meet the requirements of IRA tax credit qualification",[777],{"type":593,"attrs":778},{"href":779,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/why-south-korean-battery-makers-fear-feoc-rules-could-disrupt-their-us-plans",{"text":781,"type":588},"; eroding the cost-advantage of pivoting towards a US-centric supply chain.",{"type":583,"attrs":783,"content":784},{"textAlign":49},[785],{"text":786,"type":588},"Moreover, lithium iron phosphate’s (LFP) growing share of the battery market poses further risks. LFP cells will account for 49% of end-use battery demand in 2024, but are set to comprise just 2% of ex-China APAC cell production and 3% of cathode production in the region this year.",{"type":583,"attrs":788,"content":789},{"textAlign":49},[790],{"text":791,"type":588},"“When we analyse mid-nickel cells being produced in Asia today, we see an almost $20 per kilowatt hour gulf between them and the LFP cells produced in China,” said Hartley. ",{"type":583,"attrs":793,"content":794},{"textAlign":49},[795],{"text":796,"type":588},"“China holds a large monopoly over the LFP supply chain. And the low price of LFP battery cells presents a challenge across the APAC region when it comes to competing on cost,” he added. ",{"type":583,"attrs":798,"content":799},{"textAlign":49},[800,802],{"text":801,"type":588},"These cost pressures, coupled with ",{"text":803,"type":588,"marks":804},"slower-than-expected electric vehicle sales in the west, overcapacity concerns in China, and political uncertainty ahead of the US election in November, are putting many planned investments in the region at risk of being delayed or cancelled.",[805],{"type":593,"attrs":806},{"href":807,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/ecopro-bm-latest-cathode-producer-to-mull-capacity-cut",{"type":643,"attrs":809,"content":810},{"level":645,"textAlign":49},[811],{"text":812,"type":588},"Join us at Giga APAC 2024",{"type":583,"attrs":814,"content":815},{"textAlign":49},[816,821,828],{"text":817,"type":588,"marks":818},"Discussions on Asia Pacific’s battery market will continue at Benchmark’s ",[819],{"type":820},"italic",{"text":822,"type":588,"marks":823},"Giga APAC 2024",[824,827],{"type":593,"attrs":825},{"href":826,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://benchmarkevents.benchmarkminerals.com/gigaapac24",{"type":820},{"text":829,"type":588,"marks":830}," conference being held September 11-12 at the Ritz Carlton in Perth, Australia.",[831],{"type":820},"China is a battery supply chain behemoth. Composing 85% of global lithium ion battery cell production, 80% of cathode production, and 65% of lithium refining in 2024, China’s dominance is pervasive across the breadth of the value chain. Beyond its borders, however, the Asia Pacific (APAC) region represents one of the fastest growing hubs for […]",[834],{"slug":571,"name":572,"content":835},{"job_title":574,"image":836,"bio":577,"linkedin":578},{"filename":576},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"46bb2ebb-a6c9-4c91-9e0b-44dcf89600d6\", \"id\": \"\"}-->","article",[840,843,844],{"slug":841,"name":842},"batteries","Batteries",{"slug":600,"name":299},{"slug":845,"name":846},"geopolitics","Geopolitics","private",{"id":49,"alt":667,"name":667,"focus":667,"title":667,"source":667,"filename":849,"copyright":667,"fieldtype":850,"meta_data":851,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/ae20cac3ca/bm-lithium-ion-battery-adobe-stock-image.jpeg","asset",{"alt":667,"title":667,"source":667,"copyright":667},"Aug 22, 2024","22nd August 2024",[],[],1792688572354]