[{"data":1,"prerenderedAt":735},["ShallowReactive",2],{"ticker-data":3,"story-article/lg-chem-huayou-cobalts-900-million-precursor-plant-latest-test-of-ira":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":733,"relatedVideos":734},112471470828128,"10cfd6de-dcc0-4f27-8f90-b80ddf6409a5","LG Chem, Huayou Cobalt’s $900 million precursor plant latest test of IRA","lg-chem-huayou-cobalts-900-million-precursor-plant-latest-test-of-ira","article/lg-chem-huayou-cobalts-900-million-precursor-plant-latest-test-of-ira",{"_uid":557,"date":558,"tags":559,"editor":572,"content":582,"excerpt":712,"featured":51,"reporter":713,"_editable":717,"component":718,"seo_title":553,"categories":719,"visibility":726,"author_company":49,"featured_image":727,"seo_description":712,"author_full_name":49,"author_job_title":49,"formattedDate":731,"formattedArticleDate":732},"a1580915-e29a-4bfc-85fb-9fc978e4be83","2023-04-21 00:00",[560,563,566,569],{"slug":561,"name":562},"china","China",{"slug":564,"name":565},"huayou-cobalt","Huayou Cobalt",{"slug":567,"name":568},"lg-chem","LG Chem",{"slug":570,"name":571},"south-korea","South Korea",[573],{"slug":574,"name":575,"content":576},"didi-bostock","Didi Bostock",{"job_title":577,"image":578,"bio":580,"linkedin":581},"Editor - Energy Transition & Economics",{"filename":579},"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":583,"content":584},"doc",[585,592,597,612,617,630,635,644,649,654,659,672,677,682,687,692,697,702,707],{"type":586,"attrs":587,"content":588},"paragraph",{"textAlign":49},[589],{"text":590,"type":591},"LG Chem said it will invest 1.2 trillion won ($900 million) with Huayou Cobalt in a new joint venture to build a pCAM plant for the electric vehicle supply chain in South Korea, a move that that could test be another test of the partnership’s eligibility for the US Inflation Reduction Act. ","text",{"type":586,"attrs":593,"content":594},{"textAlign":49},[595],{"text":596,"type":591},"While the investment will help LG Chem refine metals at home and lower reliance on importing the precursor material from China, it would also likely test whether such a joint venture could qualify the requirements to secure subsidies under the IRA,  especially the provision against “foreign entities of concern” being involved in the battery supply chain. ",{"type":586,"attrs":598,"content":599},{"textAlign":49},[600,602,610],{"text":601,"type":591},"The move also highlights the deepening relations between LG Chem and Huayou Cobalt as they look to expand presence in the higher-value cathode supply chain. The Chinese company had last year said it would ",{"text":603,"type":591,"marks":604},"acquire a 49% stake",[605],{"type":606,"attrs":607},"link",{"href":608,"uuid":49,"anchor":49,"target":49,"linktype":609},"https://source.benchmarkminerals.com/article/chinas-huayou-expands-to-south-korea-with-lg-cathode-stake","url",{"text":611,"type":591}," in LG Chem’s cathode plant in South Korea. For LG Chem, ties with Huayou also ensures it has enough supplies of battery raw materials such as cobalt and nickel.",{"type":586,"attrs":613,"content":614},{"textAlign":49},[615],{"text":616,"type":591},"IRA concerns",{"type":586,"attrs":618,"content":619},{"textAlign":49},[620,622,628],{"text":621,"type":591},"The announcement from the world’s second largest battery maker follows the US Treasury’s finalised rules announced ",{"text":623,"type":591,"marks":624},"last month",[625],{"type":606,"attrs":626},{"href":627,"uuid":49,"anchor":49,"target":49,"linktype":609},"https://home.treasury.gov/news/press-releases/jy1379",{"text":629,"type":591}," on the IRA’s tax credits and how they should be implemented. ",{"type":586,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":591},"Starting 2025 eligible electric vehicles will not have any critical minerals that were extracted, processed, or recycled by a foreign entity of concern, according to the US Department of the Treasury. The department plans to issue a subsequent guidance to define foreign entities of concern. ",{"type":586,"attrs":636,"content":637},{"textAlign":49},[638],{"type":639,"attrs":640},"image",{"id":49,"alt":641,"src":642,"title":49,"source":49,"copyright":49,"meta_data":643},"","https://a.storyblok.com/f/287943243085208/3ae02a677d/bm-lg-chem-forecast.png",{},{"type":586,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":591},"The US Department of Commerce however interprets under the CHIPS and Science Act a partner as a foreign entity of concern if it owns 25% or more of equity in a joint venture. While South Korea has a free trade agreement (FTA) with the US, a joint venture with a Chinese firm could still be seen as a foreign entity of concern.",{"type":586,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":591},"The IRA requires electric vehicle makers to extract or process a certain percentage of the value of the critical battery minerals from countries with which the US has a FTA to obtain $3,750 in electric vehicle tax credits. To obtain the other $3,750 a certain percentage of the battery components have to be manufactured in North America. ",{"type":586,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":591},"Growing South Korean, Chinese partnership",{"type":586,"attrs":660,"content":661},{"textAlign":49},[662,664,670],{"text":663,"type":591},"A similar venture was announced last month for a ",{"text":665,"type":591,"marks":666},"battery precursor plant in South Korea",[667],{"type":606,"attrs":668},{"href":669,"uuid":49,"anchor":49,"target":49,"linktype":609},"https://source.benchmarkminerals.com/article/chinas-gem-aims-for-us-ira-compliance-with-sk-ecopro-south-korea-precursor-plant",{"text":671,"type":591}," with SK On, EcoPro and China’s largest battery recycling company GEM.",{"type":586,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":591},"Shenzhen-listed GEM however agreed to lower its equity ownership in the venture to satisfy the requirements to obtain tax credits under the US IRA. GEM initially aimed to have a 49% stake in the project, with SK On and EcoPro each owning a 25.5% stake. ",{"type":586,"attrs":678,"content":679},{"textAlign":49},[680],{"text":681,"type":591},"Further, a joint venture between South Korean steel maker Posco’s subsidiary Posco HY Clean Metal and Huayou Cobalt for battery recycling began operations recently. ",{"type":586,"attrs":683,"content":684},{"textAlign":49},[685],{"text":686,"type":591},"At present, South Korea imports the bulk of its precursor materials (PCAM) from China where 69% of the world’s nickel sulphate and 65% of the world’s cobalt is refined, according to Benchmark estimates. South Korea is also heavily reliant on the Chinese supply chain for raw materials.",{"type":586,"attrs":688,"content":689},{"textAlign":49},[690],{"text":691,"type":591},"South Korean President Yoon Suk Yeol is expected to take up the issue with his US counterpart Joe Biden during his official visit to Washington on April 26. ",{"type":586,"attrs":693,"content":694},{"textAlign":49},[695],{"text":696,"type":591},"LG Chem’s precursor plan",{"type":586,"attrs":698,"content":699},{"textAlign":49},[700],{"text":701,"type":591},"LG Chem said the new plant will be built in Saemangeum, Gunsan, a port city based in southwest of Seoul. The construction will begin this year and have an annual precursor production of 50,000 tonnes by 2026 in the first phase, enough to make cathodes to power half a million electric vehicles. The company plans to ramp up production to 100,000 tonnes in the second phase.",{"type":586,"attrs":703,"content":704},{"textAlign":49},[705],{"text":706,"type":591},"The Saemangeum plant will also be equipped with a metal refiner to produce metal sulphates, which are the key ingredients for precursor production.",{"type":586,"attrs":708,"content":709},{"textAlign":49},[710],{"text":711,"type":591},"Precursors are compounds consisting of nickel, cobalt and manganese and are critical for making cathodes for use within electric vehicle batteries. ","LG Chem said it will invest 1.2 trillion won ($900 million) with Huayou Cobalt in a new joint venture to build a pCAM plant for the electric vehicle supply chain in South Korea, a move that that could test be another test of the partnership’s eligibility for the US Inflation Reduction Act. While the investment […]",[714],{"slug":574,"name":575,"content":715},{"job_title":577,"image":716,"bio":580,"linkedin":581},{"filename":579},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"a1580915-e29a-4bfc-85fb-9fc978e4be83\", \"id\": \"\"}-->","article",[720,722,724],{"slug":721,"name":299},"cathode",{"slug":723,"name":115},"cobalt",{"slug":725,"name":150},"nickel","private",{"id":49,"alt":641,"name":641,"focus":641,"title":641,"source":641,"filename":728,"copyright":641,"fieldtype":729,"meta_data":730,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/cd692e7363/bm-lg-towers-2-2-e1579274709383.jpg","asset",{"alt":641,"title":641,"source":641,"copyright":641},"Apr 21, 2023","21st April 2023",[],[],1792753392809]