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ion batteries to become the primary driver of graphite demand in 2023","lithium-ion-batteries-to-become-the-primary-driver-of-graphite-demand-in-2023","article/lithium-ion-batteries-to-become-the-primary-driver-of-graphite-demand-in-2023",{"_uid":557,"date":558,"tags":559,"editor":566,"content":576,"excerpt":677,"featured":51,"reporter":678,"_editable":682,"component":683,"seo_title":553,"categories":684,"visibility":691,"author_company":49,"featured_image":692,"seo_description":677,"author_full_name":49,"author_job_title":49,"formattedDate":696,"formattedArticleDate":697},"9c08fa18-0df4-4450-a2b6-2c522d782c99","2022-11-14 00:00",[560,563],{"slug":561,"name":562},"benchmark-week-2022","Benchmark Week 2022",{"slug":564,"name":565},"graphite-prices","Graphite prices",[567],{"slug":568,"name":569,"content":570},"didi-bostock","Didi Bostock",{"job_title":571,"image":572,"bio":574,"linkedin":575},"Editor - Energy Transition & Economics",{"filename":573},"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":577,"content":578},"doc",[579,586,591,596,601,606,615,620,625,630,637,642,649,654,659,664,669,674],{"type":580,"attrs":581,"content":582},"paragraph",{"textAlign":49},[583],{"text":584,"type":585},"The flake graphite industry is nearing a new dawn where lithium ion batteries become the primary driver of market demand, Benchmark Week 2022 heard today in Los Angeles.","text",{"type":580,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":585},"Andy Miller, chief operating officer of Benchmark Mineral Intelligence, told the conference that the industry should now prepare for a time when electric vehicles, rather than heavy industry, drives prices.",{"type":580,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":585},"“We saw batteries become more than 50% of the cobalt market back in 2016. We saw batteries become more than 50% of the lithium market in 2018,” Miller explained.",{"type":580,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":585},"“We’re now projecting that by the end of next year batteries will be the number one leading market for graphite as well. So this is a turning point for the industry.”",{"type":580,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":585},"The development will have significant implications for a market that has historically been dominated by demand from the steel industry. It will require further investment in new mines outside of China to meet rapidly growing electric vehicle demand, speakers at Benchmark Week said.",{"type":580,"attrs":607,"content":608},{"textAlign":49},[609],{"type":610,"attrs":611},"image",{"id":49,"alt":612,"src":613,"title":49,"source":49,"copyright":49,"meta_data":614},"","https://a.storyblok.com/f/287943243085208/7402c8e645/bm-graphite-demand-by-end-use-in-2022-2.png",{},{"type":580,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":585},"“The idea there is a whole lot of feasible projects … is a fallacy,” Stephen Wells, chief financial officer of Syrah Resources, said.  ",{"type":580,"attrs":621,"content":622},{"textAlign":49},[623],{"text":624,"type":585},"Brent Nykoliation, executive vice president at NextSource Materials, said 30 of the world’s 45 graphite mines are in China. ",{"type":580,"attrs":626,"content":627},{"textAlign":49},[628],{"text":629,"type":585},"“The [graphite] industry has a big problem – all the car companies are saying ‘where will the product come from?’ … The market is not ready,” he said.",{"type":631,"attrs":632,"content":634},"heading",{"level":633,"textAlign":49},4,[635],{"text":636,"type":585},"Gigafactories need 92,000 tonnes a year of graphite",{"type":580,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":585},"By 2025, the battery industry is set to consume 67% of the world’s flake graphite, increasing to 79% in 2030, according to Benchmark’s Natural Flake Graphite Forecast.",{"type":580,"attrs":643,"content":644},{"textAlign":49},[645],{"type":610,"attrs":646},{"id":49,"alt":612,"src":647,"title":49,"source":49,"copyright":49,"meta_data":648},"https://a.storyblok.com/f/287943243085208/d128fd77a5/bm-graphite-demand-by-end-use-in-2030.png",{},{"type":580,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":585},"One 35 gigawatt-hour gigafactory using anode derived from 100% flake graphite could require as much as 92,000 tonnes of material each year as a feedstock.",{"type":580,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":585},"That is the equivalent of two new mines worth of material each year, with Benchmark’s global average graphite mine size in 2022 standing at 56,000 tpa.",{"type":580,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":585},"Yet despite graphite’s importance in the electric vehicle mega-trend, flake graphite prices have not had the same price movements as its lithium and cobalt counterparts.",{"type":580,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":585},"Prices for -100 mesh, 94-95% purity flake material, which is the preferred anode feedstock, have risen about 18% year-to-date to $765 per tonne, according to Benchmark Flake Graphite Price Assessment.",{"type":580,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":585},"By contrast, prices for Chinese battery-grade lithium carbonate prices have risen by 126% year-to-date. ",{"type":580,"attrs":675,"content":676},{"textAlign":49},[],"The flake graphite industry is nearing a new dawn where lithium ion batteries become the primary driver of market demand, Benchmark Week 2022 heard today in Los Angeles. Andy Miller, chief operating officer of Benchmark Mineral Intelligence, told the conference that the industry should now prepare for a time when electric vehicles, rather than heavy […]",[679],{"slug":568,"name":569,"content":680},{"job_title":571,"image":681,"bio":574,"linkedin":575},{"filename":573},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"9c08fa18-0df4-4450-a2b6-2c522d782c99\", \"id\": \"\"}-->","article",[685,688],{"slug":686,"name":687},"critical-minerals","Critical Minerals",{"slug":689,"name":690},"graphite","Graphite","private",{"id":49,"alt":612,"name":612,"focus":612,"title":612,"source":612,"filename":693,"copyright":612,"fieldtype":694,"meta_data":695,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/3a95317aa0/bm-miller-129186158ba0.jpg","asset",{"alt":612,"title":612,"source":612,"copyright":612},"Nov 14, 2022","14th November 2022",[],[],1792773923110]