[{"data":1,"prerenderedAt":730},["ShallowReactive",2],{"ticker-data":3,"story-article/ncm-811-cathode-production-in-deficit-from-next-year":540},[4,52,82,112,148,186,228,259,296,328,371,412,450,481,510],{"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},"2026-05-27","2wk","Updated every 2 weeks","Lithium",411.01,408.51,0.61,75.85,175.57,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-05-13",{"date":19,"value":20},"2026-04-29",372.51,{"date":22,"value":23},"2026-04-15",354.35,{"date":25,"value":26},"2026-04-01",346.55,{"date":28,"value":29},"2026-03-18",351.32,{"date":31,"value":32},"2026-03-04",346.6,{"date":34,"value":35},"2026-02-18",324,{"date":37,"value":38},"2026-02-04",337.67,{"date":40,"value":41},"2026-01-21",298.32,{"date":43,"value":44},"2026-01-07",233.73,{"date":46,"value":47},"2025-12-24",203.79,"/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",449.85,451.12,-0.28,77.12,181.56,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},404.38,{"date":22,"value":65},381.25,{"date":25,"value":67},371.52,{"date":28,"value":69},373.01,{"date":31,"value":71},366.63,{"date":34,"value":73},349.17,{"date":37,"value":75},356.81,{"date":40,"value":77},316.73,{"date":43,"value":79},253.98,{"date":46,"value":81},220.12,{"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",358.35,350.28,2.3,76.32,168.94,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},328.09,{"date":22,"value":95},316.95,{"date":25,"value":97},311.86,{"date":28,"value":99},321.41,{"date":31,"value":101},319.14,{"date":34,"value":103},295.42,{"date":37,"value":105},310,{"date":40,"value":107},270.4,{"date":43,"value":109},203.24,{"date":46,"value":111},177.17,{"publishedDate":19,"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",244.61,252.61,-3.17,3.99,97.72,[122,123,124,127,129,132,133,136,138,141,143,146],{"date":19,"value":116},{"date":25,"value":117},{"date":125,"value":126},"2026-03-25",252.45,{"date":28,"value":128},252.84,{"date":130,"value":131},"2026-03-11",253.48,{"date":31,"value":126},{"date":134,"value":135},"2026-02-25",256.64,{"date":34,"value":137},255.58,{"date":139,"value":140},"2026-02-11",253.31,{"date":37,"value":142},252.26,{"date":144,"value":145},"2026-01-28",241.15,{"date":40,"value":145},"/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},"2026-05-20","Nickel",135.83,133.05,2.09,12.5,30.68,[157,158,160,163,166,168,170,172,174,176,179,182],{"date":149,"value":151},{"date":159,"value":152},"2026-05-06",{"date":161,"value":162},"2026-04-22",125.43,{"date":164,"value":165},"2026-04-08",124.51,{"date":125,"value":167},123.94,{"date":130,"value":169},123.51,{"date":134,"value":171},122.7,{"date":139,"value":173},123.79,{"date":144,"value":175},128.07,{"date":177,"value":178},"2026-01-14",120.74,{"date":180,"value":181},"2025-12-31",104.29,{"date":183,"value":184},"2025-12-17",103.44,"/nickel/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":227,"subscription":49,"isProtected":50,"hasAccess":51},"2026-04-30","monthly","Natural Graphite",82.93,82.39,0.66,1.66,-0.87,[196,197,199,202,205,207,210,212,215,218,221,224],{"date":187,"value":190},{"date":198,"value":191},"2026-03-31",{"date":200,"value":201},"2026-02-27",81.92,{"date":203,"value":204},"2026-01-30",81.69,{"date":180,"value":206},81.58,{"date":208,"value":209},"2025-11-28",81.35,{"date":211,"value":209},"2025-10-31",{"date":213,"value":214},"2025-09-30",81.74,{"date":216,"value":217},"2025-08-29",81.56,{"date":219,"value":220},"2025-07-31",82.47,{"date":222,"value":223},"2025-06-30",83.13,{"date":225,"value":226},"2025-05-30",83.77,"/natural-graphite/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":229,"today":230,"last":231,"percentageChange":232,"yearToDate":233,"yearOnYear":234,"oneYearIndexTrend":235,"url":258,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",84.01,79.79,5.29,12.86,12.75,[236,237,238,240,242,244,246,248,250,252,254,256],{"date":187,"value":230},{"date":198,"value":231},{"date":200,"value":239},75.72,{"date":203,"value":241},74.61,{"date":180,"value":243},74.44,{"date":208,"value":245},76,{"date":211,"value":247},72.75,{"date":213,"value":249},71.92,{"date":216,"value":251},71.46,{"date":219,"value":253},70.35,{"date":222,"value":255},67.35,{"date":225,"value":257},65.78,"/synthetic-graphite/prices",{"publishedDate":260,"updateFrequency":188,"updateFrequencyText":188,"label":261,"today":262,"last":263,"percentageChange":264,"yearToDate":265,"yearOnYear":265,"oneYearIndexTrend":266,"url":295,"subscription":49,"isProtected":50,"hasAccess":51},"2025-11-17","Anode",77.79,77.96,-0.22,-1.93,[267,268,270,272,274,277,280,282,284,287,290,292],{"date":260,"value":262},{"date":269,"value":263},"2025-10-15",{"date":271,"value":263},"2025-09-15",{"date":273,"value":263},"2025-08-15",{"date":275,"value":276},"2025-07-15",77.93,{"date":278,"value":279},"2025-06-16",78.88,{"date":281,"value":279},"2025-05-15",{"date":283,"value":279},"2025-04-15",{"date":285,"value":286},"2025-03-17",79.89,{"date":288,"value":289},"2025-02-17",78.97,{"date":291,"value":289},"2025-01-15",{"date":293,"value":294},"2024-12-16",79.32,"/anode/prices",{"publishedDate":297,"updateFrequency":188,"updateFrequencyText":188,"label":298,"today":299,"last":300,"percentageChange":301,"yearToDate":301,"yearOnYear":302,"oneYearIndexTrend":303,"url":327,"subscription":49,"isProtected":50,"hasAccess":51},"2026-01-15","Cathode",72.79,64.08,13.59,43.38,[304,305,307,309,311,313,315,317,318,320,322,325],{"date":297,"value":299},{"date":306,"value":300},"2025-12-15",{"date":260,"value":308},62.01,{"date":269,"value":310},53.51,{"date":271,"value":312},49.5,{"date":273,"value":314},47.28,{"date":275,"value":316},46.05,{"date":278,"value":316},{"date":281,"value":319},48.08,{"date":283,"value":321},48.92,{"date":323,"value":324},"2025-03-18",52.79,{"date":288,"value":326},50.86,"/cathode/prices",{"publishedDate":329,"updateFrequency":188,"updateFrequencyText":188,"label":330,"today":331,"last":332,"percentageChange":333,"yearToDate":334,"yearOnYear":335,"oneYearIndexTrend":336,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[337,338,340,343,346,349,352,355,358,361,364,367],{"date":329,"value":331},{"date":339,"value":332},"2025-02-28",{"date":341,"value":342},"2025-01-31",71.45,{"date":344,"value":345},"2024-12-31",75.74,{"date":347,"value":348},"2024-11-29",76.98,{"date":350,"value":351},"2024-10-31",77.34,{"date":353,"value":354},"2024-09-30",77.43,{"date":356,"value":357},"2024-08-30",80.56,{"date":359,"value":360},"2024-07-31",82.99,{"date":362,"value":363},"2024-06-28",87.2,{"date":365,"value":366},"2024-05-31",90.7,{"date":368,"value":369},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":372,"updateFrequency":6,"updateFrequencyText":7,"label":373,"today":374,"last":375,"percentageChange":376,"yearToDate":377,"yearOnYear":378,"oneYearIndexTrend":379,"url":411,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-21","Black Mass",54.15,51.47,5.21,25.5,92.33,[380,381,383,386,389,392,395,398,401,404,406,408],{"date":372,"value":374},{"date":382,"value":375},"2026-05-07",{"date":384,"value":385},"2026-04-23",48.63,{"date":387,"value":388},"2026-04-09",48.6,{"date":390,"value":391},"2026-03-26",47.29,{"date":393,"value":394},"2026-03-12",46.18,{"date":396,"value":397},"2026-02-26",45.8,{"date":399,"value":400},"2026-02-12",47.34,{"date":402,"value":403},"2026-01-29",49.57,{"date":297,"value":405},43.15,{"date":180,"value":407},47.05,{"date":409,"value":410},"2025-12-18",41.51,"/recycling/black-mass-prices",{"publishedDate":413,"updateFrequency":188,"updateFrequencyText":188,"label":414,"today":415,"last":416,"percentageChange":417,"yearToDate":418,"yearOnYear":419,"oneYearIndexTrend":420,"url":449,"subscription":49,"isProtected":50,"hasAccess":51},"2026-03-19","Rare Earths",172.27,182.38,-5.54,20.73,54.49,[421,422,424,427,430,432,435,437,440,443,445,447],{"date":413,"value":415},{"date":423,"value":416},"2026-03-05",{"date":425,"value":426},"2026-02-19",179.86,{"date":428,"value":429},"2026-02-05",155.4,{"date":431,"value":429},"2026-01-22",{"date":433,"value":434},"2026-01-08",145.37,{"date":46,"value":436},142.69,{"date":438,"value":439},"2025-12-11",141.67,{"date":441,"value":442},"2025-11-27",136.29,{"date":211,"value":444},132.15,{"date":213,"value":446},139.82,{"date":216,"value":448},145.27,"/rare-earths/prices",{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":451,"today":452,"last":453,"percentageChange":454,"yearToDate":455,"yearOnYear":456,"oneYearIndexTrend":457,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",111.93,124.92,-10.4,-2.67,-3.42,[458,459,460,462,464,466,469,471,473,475,477,479],{"date":213,"value":452},{"date":216,"value":453},{"date":219,"value":461},109.9,{"date":222,"value":463},100.47,{"date":225,"value":465},103.62,{"date":467,"value":468},"2025-04-30",109.47,{"date":329,"value":470},115.87,{"date":339,"value":472},117.3,{"date":341,"value":474},114.57,{"date":344,"value":476},115,{"date":347,"value":478},117.82,{"date":350,"value":480},111.9,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":482,"today":483,"last":484,"percentageChange":485,"yearToDate":486,"yearOnYear":487,"oneYearIndexTrend":488,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM 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},112471506917999,"1a224b03-eaeb-404e-b648-a8c5d4a9d341","NCM 811 cathode production in deficit from next year","ncm-811-cathode-production-in-deficit-from-next-year","article/ncm-811-cathode-production-in-deficit-from-next-year",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":705,"featured":51,"reporter":706,"_editable":710,"component":711,"seo_title":543,"categories":712,"visibility":718,"author_company":49,"data_vis_image":719,"featured_image":723,"seo_description":705,"author_full_name":49,"author_job_title":49,"formattedDate":726,"formattedArticleDate":727},"bf4f0420-68c6-4e22-bc46-2c11ad3cde24","2023-04-14 00:00",[550,553],{"slug":551,"name":552},"data-visualisation","Data Visualisation",{"slug":554,"name":555},"ncm","NCM",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"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":567,"content":568},"doc",[569,586,631,636,645,650,655,663,676],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573,576,584],{"text":574,"type":575},"High nickel cathode chemistries have seen robust growth in recent years and are forecast to continue to grow in popularity, as ","text",{"text":577,"type":575,"marks":578},"demand for more powerful electric vehicle batteries",[579],{"type":580,"attrs":581},"link",{"href":582,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/manganese-demand-rising-as-alternative-cathode-chemistries-gain-popularity","url",{"text":585,"type":575}," continues to increase.",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589,591,597,599,605,607,613,615,621,623,629],{"text":590,"type":575},"But production of the lithium, ",{"text":592,"type":575,"marks":593},"nickel",[594],{"type":580,"attrs":595},{"href":596,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/investment-in-indonesian-nickel-diversifies-from-china-as-ford-joins-4-5-billion-project",{"text":598,"type":575},", ",{"text":600,"type":575,"marks":601},"manganese",[602],{"type":580,"attrs":603},{"href":604,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/umicore-to-introduce-manganese-rich-high-lithium-cathode-by-2026",{"text":606,"type":575},", and ",{"text":608,"type":575,"marks":609},"cobalt",[610],{"type":580,"attrs":611},{"href":612,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/the-340-million-stockpile-weighing-on-the-global-cobalt-market",{"text":614,"type":575}," (NCM) cathode chemistry with the highest nickel content, NCM 811, is not expected to keep up with ",{"text":616,"type":575,"marks":617},"this demand.",[618],{"type":580,"attrs":619},{"href":620,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/infographic-how-ev-choice-affects-lithium-nickel-and-cobalt-demand",{"text":622,"type":575}," Next year is forecast to be the first time NCM 811 production will be lower than demand, according to ",{"text":624,"type":575,"marks":625},"Benchmark’s Cathode Forecast",[626],{"type":580,"attrs":627},{"href":628,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/cathode-prices-fall-for-first-time-since-may-on-weaker-demand",{"text":630,"type":575},".",{"type":570,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":575},"“Demand for NCM 811 is growing rapidly, particularly in the EV market where the high-nickel chemistry can provide higher energy densities for longer ranges,” Rob Burrell, an analyst at Benchmark, said. “Although NCM 811 production capacity buildout is strong, it can’t keep up with the soaring demand.”",{"type":570,"attrs":637,"content":638},{"textAlign":49},[639],{"type":640,"attrs":641},"image",{"id":49,"alt":642,"src":643,"title":49,"source":49,"copyright":49,"meta_data":644},"NCM811 to enter deficit next year","https://a.storyblok.com/f/287943243085208/ebe02cd82d/bm-ncm-market-balance.jpg",{},{"type":570,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":575},"In 2020, just 4.3% of global cathode demand was for NCM 811. This year it will be 18%, making it the second most in demand cathode chemistry after lithium iron phosphate (LFP).",{"type":570,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":575},"By 2030, NCM 811 is expected to make up a third of global cathode demand but just 22% of global cathode production. This will put the NCM 811 market almost a million tonnes in deficit that year.",{"type":570,"attrs":656,"content":657},{"textAlign":49},[658],{"type":640,"attrs":659},{"id":49,"alt":660,"src":661,"title":49,"source":49,"copyright":49,"meta_data":662},"","https://a.storyblok.com/f/287943243085208/4898404979/bm-image-123-1344134d5b4a.png",{},{"type":570,"attrs":664,"content":665},{"textAlign":49},[666,668,674],{"text":667,"type":575},"This year, China produced 77% of NCM 811 globally, with South Korea producing the majority of the rest. In 2030, ",{"text":669,"type":575,"marks":670},"China’s dominance",[671],{"type":580,"attrs":672},{"href":673,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/chinas-stronghold-grip-on-cathodes-set-to-near-90-by-2030",{"text":675,"type":575}," will subside somewhat but still make up the majority of production at 52%.",{"type":570,"attrs":677,"content":678},{"textAlign":49},[679,681,687,689,695,697,703],{"text":680,"type":575},"“China currently has the largest supply pipeline for NCM 811 globally, but even this won’t cope with demand from other regions,” Burrell said. “",{"text":682,"type":575,"marks":683},"North America",[684],{"type":580,"attrs":685},{"href":686,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/lg-chem-tennessee-cathode-plant-could-double-north-american-production",{"text":688,"type":575}," and ",{"text":690,"type":575,"marks":691},"Europe",[692],{"type":580,"attrs":693},{"href":694,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/europe-faces-cathode-and-anode-shortage-in-drive-to-evs",{"text":696,"type":575},", therefore, need a more immediate ramp-up schedule if they are to ",{"text":698,"type":575,"marks":699},"keep up with domestic demand",[700],{"type":580,"attrs":701},{"href":702,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/the-looming-us-and-europe-cathode-shortage",{"text":704,"type":575},".”","High nickel cathode chemistries have seen robust growth in recent years and are forecast to continue to grow in popularity, as demand for more powerful electric vehicle batteries continues to increase. But production of the lithium, nickel, manganese, and cobalt (NCM) cathode chemistry with the highest nickel content, NCM 811, is not expected to keep […]",[707],{"slug":558,"name":559,"content":708},{"job_title":561,"image":709,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"bf4f0420-68c6-4e22-bc46-2c11ad3cde24\", \"id\": \"\"}-->","article",[713,716],{"slug":714,"name":715},"batteries","Batteries",{"slug":717,"name":298},"cathode","private",{"id":49,"alt":660,"name":660,"focus":660,"title":660,"source":660,"filename":720,"copyright":660,"fieldtype":721,"meta_data":722,"is_external_url":51},"https://res.cloudinary.com/benchmarkminerals/images/f_auto,q_auto/v1692313056/www-production/NCM-market-balance-1024x822-1/NCM-market-balance-1024x822-1.png?_i=AA","asset",{"alt":660,"title":660,"source":660,"copyright":660},{"id":49,"alt":660,"name":660,"focus":660,"title":660,"source":660,"filename":724,"copyright":660,"fieldtype":721,"meta_data":725,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/3325e5a9dd/bm-ncm-market-balance-no-axis-129817079262.png",{"alt":660,"title":660,"source":660,"copyright":660},"Apr 14, 2023","14th April 2023",[],[],1786466439467]