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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":728,"relatedVideos":729},112472087112641,"432cc5de-cbda-421a-a9be-d1e95f598548","Lithium prices soften for first time in seven months amid demand uncertainty","lithium-prices-soften-for-first-time-in-seven-months-amid-demand-uncertainty","article/lithium-prices-soften-for-first-time-in-seven-months-amid-demand-uncertainty",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":708,"featured":51,"reporter":709,"_editable":713,"component":714,"seo_title":543,"categories":715,"visibility":721,"author_company":49,"featured_image":722,"seo_description":708,"author_full_name":49,"author_job_title":49,"formattedDate":726,"formattedArticleDate":727},"24d7b897-4a2a-4ee6-9c50-65a97d872b3a","2022-12-14 00:00",[550],{"slug":551,"name":552},"lithium-prices","Lithium prices",[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",[566,573,578,583,588,593,598,603,612,619,634,639,646,651,656,661,666,671,676,681,688,693,698,703],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570],{"text":571,"type":572},"Chinese lithium prices fell for the first time since May as uncertainty grows about demand in the world’s second-largest economy following the easing of Covid-19 restrictions and the looming end of electric vehicle subsidies. ","text",{"type":567,"attrs":574,"content":575},{"textAlign":49},[576],{"text":577,"type":572},"The price for battery-grade lithium carbonate fell by 0.8% between the 7th and 14th of December, while lithium hydroxide dropped by 0.4%, according to Benchmark’s Lithium Price Assessment. Technical-grade carbonate fell the most, with a 1.0% drop in prices.",{"type":567,"attrs":579,"content":580},{"textAlign":49},[581],{"text":582,"type":572},"The softening comes as China accelerates the dismantling of its zero-Covid policy by ending mandatory quarantines and testing, which could see the virus spread throughout the country. At the same time, Beijing is set to end electric vehicle subsidies at the beginning of next year, which could dampen demand for EVs. ",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"Cathode manufacturers are adopting a watch-and-wait strategy towards purchasing material and are instead working through raw material inventories built up throughout November, Daisy Jennings-Gray, an analyst at Benchmark, said. ",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"“This push-and-pull environment has led to a bit of a pause in market activity, and prices have softened slightly in response,” Daisy Jennings-Gray, an analyst at Benchmark, said.",{"type":567,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":572},"Australian lithium miner Pilbara Minerals reported this week that the highest bid for spodumene on its auction platform fell 3.8% to $7,505 a tonne (FOB) compared to its last auction.",{"type":567,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":572},"Battery-grade lithium carbonate was last assessed at RMB 564,500 ($81,300), compared to RMB 537,500 ($77,400) for technical-grade. Lithium hydroxide was assessed at RMB 562,500 ($81,000).",{"type":567,"attrs":604,"content":605},{"textAlign":49},[606],{"type":607,"attrs":608},"image",{"id":49,"alt":609,"src":610,"title":49,"source":49,"copyright":49,"meta_data":611},"","https://a.storyblok.com/f/287943243085208/dff75d3351/bm-chinese-lithium-prices-soften.png",{},{"type":613,"attrs":614,"content":616},"heading",{"level":615,"textAlign":49},4,[617],{"text":618,"type":572},"Ticking down ",{"type":567,"attrs":620,"content":621},{"textAlign":49},[622,624,632],{"text":623,"type":572},"Lithium prices have ",{"text":625,"type":572,"marks":626},"more than doubled",[627],{"type":628,"attrs":629},"link",{"href":630,"uuid":49,"anchor":49,"target":49,"linktype":631},"https://source.benchmarkminerals.com/article/lithium-prices-touch-record-high-in-china-as-ev-sales-momentum-remains/","url",{"text":633,"type":572}," this year to record high levels, putting pressure on the cost of batteries used in electric vehicles. Since the start of the year battery-grade lithium carbonate prices have increased by 125.8% and lithium hydroxide by 170.4%. ",{"type":567,"attrs":635,"content":636},{"textAlign":49},[637],{"text":638,"type":572},"Traders in the technical-grade market have been more sensitive to recent bearish market sentiment developments. The majority of technical-grade carbonate in China is sold to converters who upgrade it to battery-grade material. Once the market showed signs of slowing amid demand uncertainty, these traders quickly began to sell off material, which drove the price down faster than for the battery-grade chemicals, Jennings-Gray said.",{"type":613,"attrs":640,"content":641},{"level":615,"textAlign":49},[642,644],{"text":643,"type":572},"Automakers eye end t",{"text":645,"type":572},"o EV subsidy",{"type":567,"attrs":647,"content":648},{"textAlign":49},[649],{"text":650,"type":572},"Retail sales of new-energy vehicles in China have doubled this year to reach 5 million units, despite lockdowns and Covid restrictions. At the same time, lithium supply has struggled to meet this demand, with prices for spodumene feedstock rising by over 280% year-over-year. ",{"type":567,"attrs":652,"content":653},{"textAlign":49},[654],{"text":655,"type":572},"Chinese automakers are offering discounts and promotions to try and sell vehicles before the expiry of EV subsidies in January.  ",{"type":567,"attrs":657,"content":658},{"textAlign":49},[659],{"text":660,"type":572},"Sales of NEVs (which includes plug-in hybrids and fuel cell vehicles) could reach 6.5 million units this year, according to the China Passenger Car Association (CPCA).",{"type":567,"attrs":662,"content":663},{"textAlign":49},[664],{"text":665,"type":572},"Currently, those purchasing an EV can get RMB 12,600 ($1,836) towards the cost of the vehicle. First introduced in 2009, this subsidy has been ramping down since 2020. The intention for the scheme to end on the first of January 2023.",{"type":567,"attrs":667,"content":668},{"textAlign":49},[669],{"text":670,"type":572},"Whether the subsidies will actually end this year is uncertain, with rumours suggesting they might be extended into 2023 at half the value they were this year.",{"type":567,"attrs":672,"content":673},{"textAlign":49},[674],{"text":675,"type":572},"For now, however, it is expected that EV sales will decline at the start of 2023, putting downward pressure on lithium prices.",{"type":567,"attrs":677,"content":678},{"textAlign":49},[679],{"text":680,"type":572},"A number of Chinese electric vehicle producers, including BYD, have already announced price hikes on their vehicles for next year. ",{"type":613,"attrs":682,"content":683},{"level":615,"textAlign":49},[684,686],{"text":685,"type":572},"Covid ",{"text":687,"type":572},"reopening",{"type":567,"attrs":689,"content":690},{"textAlign":49},[691],{"text":692,"type":572},"There is also growing uncertainty over the country’s response to rising Covid infections over the winter, which is impacting market sentiment. ",{"type":567,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":572},"Beijing has said they have stopped reporting asymptomatic cases as the virus spreads, although concerns remain that if virus cases spiral out of control, further lockdowns could be put into place, similar to those in Shanghai in April which limited EV production rates in the region. ",{"type":567,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":572},"China’s Spring Festival also falls early in 2023 on January 22nd, which is another reason for the lithium industry to wind down, as cathode and cell manufacturers look to pause or limit operations during the holiday. ",{"type":567,"attrs":704,"content":705},{"textAlign":49},[706],{"text":707,"type":572},"However, the early Spring Festival has shown some signs of driving demand thus far, with many cathode producers continuing to stock up on material ahead of logistical disruptions that often arise during the festivities as train and truck drivers break for the holiday.","Chinese lithium prices fell for the first time since May as uncertainty grows about demand in the world’s second-largest economy following the easing of Covid-19 restrictions and the looming end of electric vehicle subsidies. The price for battery-grade lithium carbonate fell by 0.8% between the 7th and 14th of December, while lithium hydroxide dropped by […]",[710],{"slug":555,"name":556,"content":711},{"job_title":558,"image":712,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"24d7b897-4a2a-4ee6-9c50-65a97d872b3a\", \"id\": \"\"}-->","article",[716,719],{"slug":717,"name":718},"critical-minerals","Critical Minerals",{"slug":720,"name":8},"lithium","private",{"id":49,"alt":609,"name":609,"focus":609,"title":609,"source":609,"filename":723,"copyright":609,"fieldtype":724,"meta_data":725,"is_external_url":51},"https://wp-admin.benchmarkminerals.com/app/uploads/China-covid-reopening-scaled.jpg","asset",{"alt":609,"title":609,"source":609,"copyright":609},"Dec 14, 2022","14th December 2022",[],[],1782840869460]