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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":716,"relatedVideos":717},114843521605309,"bf254039-dc69-4b03-818d-c9e0831616b9","LFP uptake and flexible production lines keep lithium carbonate prices above hydroxide","lfp-uptake-and-flexible-production-lines-keep-lithium-carbonate-prices-above-hydroxide","article/lfp-uptake-and-flexible-production-lines-keep-lithium-carbonate-prices-above-hydroxide",{"_uid":547,"date":548,"tags":549,"editor":555,"content":565,"excerpt":694,"featured":51,"reporter":695,"_editable":699,"component":700,"seo_title":543,"categories":701,"visibility":709,"author_company":49,"featured_image":710,"seo_description":694,"author_full_name":49,"author_job_title":49,"formattedDate":714,"formattedArticleDate":715},"8500ce68-ea1e-44ae-9b8b-83c7b052ff82","2024-07-05 00:00",[550,552],{"slug":551,"name":451},"lfp",{"slug":553,"name":554},"lithium-prices","Lithium prices",[556],{"slug":557,"name":558,"content":559},"didi-bostock","Didi Bostock",{"job_title":560,"image":561,"bio":563,"linkedin":564},"Editor - Energy Transition & Economics",{"filename":562},"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":566,"content":567},"doc",[568,585,598,603,608,617,627,634,639,652,657,664,669,674,679,684,689],{"type":569,"attrs":570,"content":571},"paragraph",{"textAlign":49},[572,575,583],{"text":573,"type":574},"Lithium hydroxide has consistently priced lower than lithium carbonate since August last year, according to global weighted average prices of the two materials in ","text",{"text":576,"type":574,"marks":577},"Benchmark’s Lithium Price Assessment",[578],{"type":579,"attrs":580},"link",{"href":581,"uuid":49,"anchor":49,"target":49,"linktype":582},"https://www.benchmarkminerals.com/price-assessments/lithium/portal/","url",{"text":584,"type":574},".",{"type":569,"attrs":586,"content":587},{"textAlign":49},[588,590,596],{"text":589,"type":574},"This is the longest period that hydroxide has priced lower than carbonate since Benchmark began recording prices in 2016. ",{"text":591,"type":574,"marks":592},"Benchmark’s Lithium Forecast",[593],{"type":579,"attrs":594},{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":582},"https://www.benchmarkminerals.com/forecasts/lithium/reports/",{"text":597,"type":574}," expects carbonate to remain more expensive than hydroxide until 2027.",{"type":569,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":574},"The higher price of lithium carbonate reflects a shift towards lithium iron phosphate (LFP) batteries which is the preference for lower cost electric vehicles and for energy storage applications.",{"type":569,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":574},"“A lot of it is down to LFP’s strength in China versus NCM,” Daisy Jennings-Gray, head of prices at Benchmark, said. “Whilst EV sentiment has been a bit weaker, ESS has stayed fairly consistent or strengthened.”",{"type":569,"attrs":609,"content":610},{"textAlign":49},[611],{"type":612,"attrs":613},"image",{"id":49,"alt":614,"src":615,"title":49,"source":49,"copyright":49,"meta_data":616},"","https://a.storyblok.com/f/287943243085208/0519f197fe/bm-lfp.png",{},{"type":569,"attrs":618,"content":619},{"textAlign":49},[620,622,626],{"text":621,"type":574},"The global weighted average price for lithium hydroxide was $12,172 per tonne LCE as of 26 June 2024, 5% lower than for lithium carbonate which was priced at $12,818 per tonne in ",{"text":576,"type":574,"marks":623},[624],{"type":579,"attrs":625},{"href":581,"uuid":49,"anchor":49,"target":49,"linktype":582},{"text":584,"type":574},{"type":628,"attrs":629,"content":631},"heading",{"level":630,"textAlign":49},4,[632],{"text":633,"type":574},"Strong LFP demand",{"type":569,"attrs":635,"content":636},{"textAlign":49},[637],{"text":638,"type":574},"Lithium carbonate is the lithium chemical used for the production of LFP cathode material. High performance cathode chemistries such as high nickel NCM and nickel cobalt aluminium (NCA), use lithium hydroxide.",{"type":569,"attrs":640,"content":641},{"textAlign":49},[642,644,650],{"text":643,"type":574},"Between 2021 and 2024, demand for LFP battery cells has grown 430% from 575 GWh and they are forecast to account for 48% of global cell demand this year, according to ",{"text":645,"type":574,"marks":646},"Benchmark’s Lithium ion Battery Database",[647],{"type":579,"attrs":648},{"href":649,"uuid":49,"anchor":49,"target":49,"linktype":582},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports/",{"text":651,"type":574},". Meanwhile, high nickel NCM and NCA are expected to account for a combined 23% of 2024 demand.",{"type":569,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":574},"By 2027, high nickel NCM and NCA cell demand is forecast to rise to 31% of the market. This increased demand for chemistries requiring lithium hydroxide suggests a price premium for the material over carbonate would return.",{"type":569,"attrs":658,"content":659},{"textAlign":49},[660],{"type":612,"attrs":661},{"id":49,"alt":614,"src":662,"title":49,"source":49,"copyright":49,"meta_data":663},"https://lh7-us.googleusercontent.com/docsz/AD_4nXeRdfo4LNxPROo_RwrLLnh2z1qXcRUQNjbV9nOk4mxeTZlZ8eYqSIl1hG6IS5nl7eLk6VSQZm-mXuS3vjtZxcxLVJY8IRIqX7pPAkeB0Hb75AC-QC1iSlv3BA_YmeNlfrpqeQ-PD_ruCXOtR7LFPMx1CvJN?key=JfR4QBoa0eXOJUs43n3Q0g",{},{"type":628,"attrs":665,"content":666},{"level":630,"textAlign":49},[667],{"text":668,"type":574},"Flexible production lines",{"type":569,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":574},"Another trend influencing the price relationship between hydroxide and carbonate is increasing flexibility in lithium chemical production lines.",{"type":569,"attrs":675,"content":676},{"textAlign":49},[677],{"text":678,"type":574},"Historically, lithium hydroxide has been produced by converting lithium carbonate. However more and more lines are now able to deal with flexible feedstock inputs, switching between brine and hard rock sources – and eschewing the need to produce hydroxide from carbonate.",{"type":569,"attrs":680,"content":681},{"textAlign":49},[682],{"text":683,"type":574},"On the carbonate front, an increasing amount is being produced from lepidolite feedstock, which is more expensive to process than spodumene or brine and has been placing upward pressure on carbonate prices.",{"type":569,"attrs":685,"content":686},{"textAlign":49},[687],{"text":688,"type":574},"Production lines also increasingly have flexibility in terms of their end product, too.",{"type":569,"attrs":690,"content":691},{"textAlign":49},[692],{"text":693,"type":574},"“Producers can choose to switch between carbonate and hydroxide depending on the price relationship, where they used to generally be stuck making a single product,” Jennings-Gray said.","Lithium hydroxide has consistently priced lower than lithium carbonate since August last year, according to global weighted average prices of the two materials in Benchmark’s Lithium Price Assessment. This is the longest period that hydroxide has priced lower than carbonate since Benchmark began recording prices in 2016. Benchmark’s Lithium Forecast expects carbonate to remain more […]",[696],{"slug":557,"name":558,"content":697},{"job_title":560,"image":698,"bio":563,"linkedin":564},{"filename":562},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"8500ce68-ea1e-44ae-9b8b-83c7b052ff82\", \"id\": \"\"}-->","article",[702,704,707],{"slug":703,"name":298},"cathode",{"slug":705,"name":706},"critical-minerals","Critical Minerals",{"slug":708,"name":8},"lithium","private",{"id":49,"alt":614,"name":614,"focus":614,"title":614,"source":614,"filename":711,"copyright":614,"fieldtype":712,"meta_data":713,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/abea704b68/bm-priceupdate2.png","asset",{"alt":614,"title":614,"source":614,"copyright":614},"Jul 05, 2024","5th July 2024",[],[],1780500947549]