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lithium prices risk delaying investment in new supply, Allkem says","low-lithium-prices-risk-delaying-investment-in-new-supply-allkem-says","article/low-lithium-prices-risk-delaying-investment-in-new-supply-allkem-says",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":720,"featured":51,"reporter":721,"_editable":725,"component":726,"seo_title":553,"categories":727,"visibility":730,"author_company":49,"featured_image":731,"seo_description":720,"author_full_name":49,"author_job_title":49,"formattedDate":735,"formattedArticleDate":736},"a1784dc6-90e2-4692-a896-d349f53a2864","2023-11-15 00:00",[560],{"slug":561,"name":562},"benchmark-week-2023","Benchmark Week 2023",[564],{"slug":565,"name":566,"content":567},"didi-bostock","Didi Bostock",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Editor - Energy Transition & Economics",{"filename":570},"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":574,"content":575},"doc",[576,583,588,593,598,613,618,625,636,641,646,651,660,665,670,675,680,685,690,695,700,705,710,715],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"Falling lithium prices could delay investment in new mines that will be needed to meet rising demand this decade, according to producer Allkem. ","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":582},"Chinese lithium prices have fallen over 70% this year, due to a slowdown in demand in China and a rise in supply from new mines. Prices for lithium hydroxide have been particularly hard hit, falling by 75% to below $20,000 a tonne.  ",{"type":577,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":582},"But this makes it more difficult for explorers and developers to get funding, with investor’s risk appetite dampened by the lower price environment, Christian Barbier, chief sales and marketing officer of Allkem, said during a keynote presentation at Benchmark Week. ",{"type":577,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":582},"“As a consequence, supplier response at current levels is likely to be delayed. This in turn will naturally feed into the stop and go behaviour of the upstream lithium industry,” Barbier said. ",{"type":577,"attrs":599,"content":600},{"textAlign":49},[601,603,611],{"text":602,"type":582},"Allkem is set to merge with rival Livent at the beginning of next year, to ",{"text":604,"type":582,"marks":605},"create",[606],{"type":607,"attrs":608},"link",{"href":609,"uuid":49,"anchor":49,"target":49,"linktype":610},"https://source.benchmarkminerals.com/article/livent-and-allkem-merger-to-create-10-6-billion-lithium-producer","url",{"text":612,"type":582}," what it says will be the world’s third biggest lithium producer by capacity this decade. The new entity will be called Arcadium Lithium.",{"type":577,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":582},"Livent said this week it has received all required regulatory approvals in connection with the merger. The company said the deal is likely to close on January 4.  ",{"type":619,"attrs":620,"content":622},"heading",{"level":621,"textAlign":49},4,[623],{"text":624,"type":582},"Falling lithium prices",{"type":577,"attrs":626,"content":627},{"textAlign":49},[628,630],{"text":629,"type":582},"Global weighted average lithium prices have fallen 63% year-to-date, according to ",{"text":631,"type":582,"marks":632},"Benchmark’s Lithium Price Assessment.",[633],{"type":607,"attrs":634},{"href":635,"uuid":49,"anchor":49,"target":49,"linktype":610},"https://www.benchmarkminerals.com/price-assessments/lithium/portal/",{"type":577,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":582},"After reaching a record high in 2022, prices for battery grade lithium carbonate in China are currently sitting at $21,775 a tonne while lithium hydroxide prices are at $19,925 per tonne. ",{"type":577,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":582},"“Lithium is an immature market, where players are still probing to discover the right price for lithium in a very complex supply and demand situation,” Barbier said. ",{"type":577,"attrs":647,"content":648},{"textAlign":49},[649],{"text":650,"type":582},"The challenge to grow capacity over the next 10 years in the lithium industry is at every step of the supply chain, Barbier added, from the miner to the converter, the cathode maker, the cell and battery producers and to the OEM.",{"type":577,"attrs":652,"content":653},{"textAlign":49},[654],{"type":655,"attrs":656},"image",{"id":49,"alt":657,"src":658,"title":49,"source":49,"copyright":49,"meta_data":659},"","https://a.storyblok.com/f/287943243085208/0fe8890b1c/bm-lithium-prices-since-december-2022.png",{},{"type":577,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":582},"Javier Arraztoa, lithium sales manager at Chilean producer SQM, said a price correction was expected, given the record levels lithium reached in 2022. ",{"type":577,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":582},"“We were expecting a correction at some point, but we expect the market to continue to incentivise new suppliers as well because we need to,” he told the attendees of Benchmark Week in Los Angeles. ",{"type":619,"attrs":671,"content":672},{"level":621,"textAlign":49},[673],{"text":674,"type":582},"Optimistic on demand",{"type":577,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":582},"Both lithium producers, however, said they are optimistic about demand in the long term. ",{"type":577,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":582},"“This transition to electric cars to renewables and so on is huge, it’s coming, and will bring a lot of demand, so long term I am not scared of an alternative,” Arraztoa said. ",{"type":577,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":582},"Similarly, Allkem’s Barbier said that the strong market fundamentals for EVs remain, even after the lukewarm comments from some OEMs this year. ",{"type":577,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":582},"“This is such a revolution in such a complex supply chain, that we’re bound to see contradicting moves and news, huge investments, new alliances, ambitious projects and delays, redeployment of capitals and partnerships. And it’s okay. It was to be expected,” Barbier said. ",{"type":619,"attrs":696,"content":697},{"level":621,"textAlign":49},[698],{"text":699,"type":582},"ESG price premium ",{"type":577,"attrs":701,"content":702},{"textAlign":49},[703],{"text":704,"type":582},"Another topic of discussion at Benchmark Week were ESG standards, which are a key aspect for upcoming and incumbent lithium producers.",{"type":577,"attrs":706,"content":707},{"textAlign":49},[708],{"text":709,"type":582},"“I think it’s a must …  it’s something that is going to be required … it’s having this holistic view of making a net zero car, but also being aware of the raw materials as well,” Arraztoa said.",{"type":577,"attrs":711,"content":712},{"textAlign":49},[713],{"text":714,"type":582},"Whether ESG credentials will create a price bifurcation in the lithium market has been a topic of discussion for some time, and even though a price premium is not currently in place, Barbier said he believes this could be the case at some point in the future. ",{"type":577,"attrs":716,"content":717},{"textAlign":49},[718],{"text":719,"type":582},"“The current situation is that the different feedstocks are generally mixed along the supply chain. And the ambiguity of ESG credentials actually serves the downstream players,” he said. “However, again, when consumers start to look at it, they will want to have transparency and this transparency is what will probably bring a pricing price differential.”","Falling lithium prices could delay investment in new mines that will be needed to meet rising demand this decade, according to producer Allkem. Chinese lithium prices have fallen over 70% this year, due to a slowdown in demand in China and a rise in supply from new mines. Prices for lithium hydroxide have been particularly […]",[722],{"slug":565,"name":566,"content":723},{"job_title":568,"image":724,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"a1784dc6-90e2-4692-a896-d349f53a2864\", \"id\": \"\"}-->","article",[728],{"slug":729,"name":8},"lithium","private",{"id":49,"alt":657,"name":657,"focus":657,"title":657,"source":657,"filename":732,"copyright":657,"fieldtype":733,"meta_data":734,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/55d96abe7a/bm-barbier-allkem-130877547710.jpg","asset",{"alt":657,"title":657,"source":657,"copyright":657},"Nov 15, 2023","15th November 2023",[],[],1792773908046]