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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":734,"relatedVideos":735},112470280296275,"63c28cb9-4c7b-4597-b425-35feb4177695","Lithium hydroxide prices fall below RMB 100,000 a tonne as producers offer discounts","lithium-hydroxide-prices-fall-below-rmb-100000-a-tonne-as-producers-offer-discounts","article/lithium-hydroxide-prices-fall-below-rmb-100000-a-tonne-as-producers-offer-discounts",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":714,"featured":51,"reporter":715,"_editable":719,"component":720,"seo_title":543,"categories":721,"visibility":727,"author_company":49,"featured_image":728,"seo_description":714,"author_full_name":49,"author_job_title":49,"formattedDate":732,"formattedArticleDate":733},"7d56da16-1bc1-4faa-8024-7b121b3ef627","2023-12-14 00:00",[550],{"slug":551,"name":552},"china","China",[554],{"slug":555,"name":556,"content":557},"matthew-bird","Matthew Bird",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Senior Editor - Supply Chains & Data Visualisation",{"filename":560},"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":564,"content":565},"doc",[566,583,588,601,606,611,616,621,626,631,638,649,659,664,669,680,685,694,699,704,709],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570,573,581],{"text":571,"type":572},"Lithium hydroxide prices in China saw transactions priced below the RMB 100,000 per tonne ($13,900) mark for the first time in 2023, according to the latest ","text",{"text":574,"type":572,"marks":575},"Benchmark Lithium Price Assessment",[576],{"type":577,"attrs":578},"link",{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://www.benchmarkminerals.com/price-assessments/lithium/portal/","url",{"text":582,"type":572},". ",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"Ongoing sluggish demand has continued to put pressure on lithium hydroxide prices, which have declined around 17% since the start of the month to between RMB 97,000 and 105,000 a tonne. Year-to-date prices have fallen by 77%. ",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591,593,599],{"text":592,"type":572},"The growth in sales of ",{"text":594,"type":572,"marks":595},"electric vehicles in China",[596],{"type":577,"attrs":597},{"href":598,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://source.benchmarkminerals.com/article/ev-sales-growth-has-slowed-but-has-not-been-derailed",{"text":600,"type":572}," has slowed this year, while at the same time demand for more powerful nickel cobalt manganese (NCM) batteries, which typically use lithium hydroxide, has also weakened. ",{"type":567,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":572},"Battery cell production in China rose by 13.4% in November compared to the previous month, to reach 87.7 gigawatt-hours, yet lithium iron phosphate (LFP) batteries accounted for 59.8 GWh of the total. ",{"type":567,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":572},"“Sentiment surrounding lithium hydroxide demand has been particularly bearish,” Daisy Jennings-Gray, senior analyst at Benchmark, said. “Whilst lithium iron phosphate (LFP) demand has seen some support this year from energy storage systems applications, high energy NCM cell manufacturers have cut back production rates.”",{"type":567,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":572},"While lithium hydroxide trades at a discount to lithium carbonate in China, in Asia hydroxide is at a small premium $100/tonne, due to the typically stronger demand for hydroxide from high nickel NCM cathode producers in South Korea and Japan.",{"type":567,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":572},"Still, some cathode manufacturers in Japan and South Korea have also looked to limit raw material procurement given that sufficient lithium hydroxide volumes are delivered under long term contracts. ",{"type":567,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":572},"To secure buyer interest for new contracts, sellers have reportedly been offering significant discounts to prevailing spot market prices, while existing contracts have been readjusted downwards. ",{"type":567,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":572},"“Buyers continue to seek discounts on contracted material, which at the moment producers are willing to offer in a bid to shift volume before the end of the year, to close off calendar-year financial targets,” Jennings-Gray said. ",{"type":632,"attrs":633,"content":635},"heading",{"level":634,"textAlign":49},4,[636],{"text":637,"type":572},"Spodumene prices ",{"type":567,"attrs":639,"content":640},{"textAlign":49},[641,643,648],{"text":642,"type":572},"Following the trend seen in the lithium chemicals market, spodumene prices continued to fall in the past two weeks, currently sitting at $1,300 per tonne, according to ",{"text":644,"type":572,"marks":645},"Benchmark’s Lithium Price Assessment",[646],{"type":577,"attrs":647},{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},{"text":582,"type":572},{"type":567,"attrs":650,"content":651},{"textAlign":49},[652,654,658],{"text":653,"type":572},"“This coupled with the recent trend of shortening quotation periods in spodumene concentrate contract mechanisms have further weighed on prices,” according to ",{"text":644,"type":572,"marks":655},[656],{"type":577,"attrs":657},{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},{"text":582,"type":572},{"type":567,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":572},"The low price environment is impacting non-integrated converters, which struggle the most during sharp declines in spot market pricing.",{"type":567,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":572},"“That’s because they often pay for material on a lagged basis – so by the time their feedstock arrives, they paid last month’s price for it, and by the time they can sell it, the price for their refined goods has declined further and profits are either squeezed or turned negative,” Jennings-Gray said. ",{"type":567,"attrs":670,"content":671},{"textAlign":49},[672,678],{"text":673,"type":572,"marks":674},"Mechanisms for pricing contracts",[675],{"type":577,"attrs":676},{"href":677,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://source.benchmarkminerals.com/article/lithium-price-volatility-hits-contract-pricing-mechanisms",{"text":679,"type":572}," have been shifting this year, with converters looking to pay for spodumene based on the price when the material arrives in China rather than when it left Australia. ",{"type":567,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":572},"“(They do this) to account for the sharp decline in chemicals spot pricing that continues whilst the shipments are out for delivery,” Jennings-Gray said. ",{"type":567,"attrs":686,"content":687},{"textAlign":49},[688],{"type":689,"attrs":690},"image",{"id":49,"alt":691,"src":692,"title":49,"source":49,"copyright":49,"meta_data":693},"","https://a.storyblok.com/f/287943243085208/74769afe8b/bm-lithium-and-spodumene-prices-2023-1.png",{},{"type":632,"attrs":695,"content":696},{"level":634,"textAlign":49},[697],{"text":698,"type":572},"Lithium carbonate remains under pressure",{"type":567,"attrs":700,"content":701},{"textAlign":49},[702],{"text":703,"type":572},"Lithium carbonate prices also continued their downward spiral in December, with spot prices for battery-grade lithium carbonate prices in China falling to an average of RMB 108,500 per tonne ($15,075).",{"type":567,"attrs":705,"content":706},{"textAlign":49},[707],{"text":708,"type":572},"Despite robust monthly growth in EV sales figures in China throughout November, larger volume buyers of carbonate supplying EV end markets remained cautious about purchasing material, citing continued pessimism towards lithium chemicals prices in the near term, according to Benchmark.",{"type":567,"attrs":710,"content":711},{"textAlign":49},[712],{"text":713,"type":572},"This could potentially drive an uptick in pricing in the first or second quarter next year, however, depending on whether higher cost producers in China can afford to continue to operate with negative margins, or whether a supply-side response to the low price environment sees availability restricted.","Lithium hydroxide prices in China saw transactions priced below the RMB 100,000 per tonne ($13,900) mark for the first time in 2023, according to the latest Benchmark Lithium Price Assessment. Ongoing sluggish demand has continued to put pressure on lithium hydroxide prices, which have declined around 17% since the start of the month to between […]",[716],{"slug":555,"name":556,"content":717},{"job_title":558,"image":718,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"7d56da16-1bc1-4faa-8024-7b121b3ef627\", \"id\": \"\"}-->","article",[722,725],{"slug":723,"name":724},"critical-minerals","Critical Minerals",{"slug":726,"name":8},"lithium","private",{"id":49,"alt":691,"name":691,"focus":691,"title":691,"source":691,"filename":729,"copyright":691,"fieldtype":730,"meta_data":731,"is_external_url":51},"https://wp-admin.benchmarkminerals.com/app/uploads/lithium-atacama-scaled.jpg","asset",{"alt":691,"title":691,"source":691,"copyright":691},"Dec 14, 2023","14th December 2023",[],[],1780670069071]