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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":714,"relatedVideos":715},112471332837855,"dd75f8dd-e4ac-4806-97fd-29eec61e422b","Spodumene prices fall 32% easing pressure on lithium refiners","spodumene-prices-fall-32-easing-pressure-on-lithium-refiners","article/spodumene-prices-fall-32-easing-pressure-on-lithium-refiners",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":697,"featured":51,"reporter":698,"_editable":702,"component":703,"seo_title":543,"categories":704,"visibility":707,"author_company":49,"featured_image":708,"seo_description":697,"author_full_name":49,"author_job_title":49,"formattedDate":712,"formattedArticleDate":713},"c6f41563-0311-4cad-8f5f-3034c4b2f0c8","2023-05-18 00:00",[550,553],{"slug":551,"name":552},"lithium-prices","Lithium prices",{"slug":554,"name":555},"spodumene","Spodumene",[557],{"slug":558,"name":559,"content":560},"matthew-bird","Matthew Bird",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Senior Editor - Supply Chains & Data Visualisation",{"filename":563},"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":567,"content":568},"doc",[569,586,591,596,601,606,611,616,625,632,637,642,647,652,657,662,667,672,677,682,687,692],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573,576,584],{"text":574,"type":575},"Spodumene ","text",{"text":577,"type":575,"marks":578},"prices",[579],{"type":580,"attrs":581},"link",{"href":582,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://www.benchmarkminerals.com/price-assessments/lithium/portal/","url",{"text":585,"type":575}," fell by 32% this month, in lagged response to low lithium chemicals prices, relieving some pressure on Chinese refiners after months of high input costs. ",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":575},"The fortnight-on-fortnight spodumene drop is the sharpest single decline in spodumene prices since Benchmark began tracking the data, amounting to a 35% drop between 19 April and 17 May 2023, to $3,250 a tonne. ",{"type":570,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":575},"The news will be welcomed by Chinese lithium refiners, whose margins have been squeezed by resilient spodumene prices and falling chemicals prices over the last 7 months, forcing some smaller players to shut production in wait for higher output prices.",{"type":570,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":575},"At current average spodumene prices, lithium refiners are only just making a profit in China compared to a loss for most of this year, according to Benchmark analyst Tony Alderson. ",{"type":570,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":575},"FOB Australian spodumene had fallen by only 25% this year as of the beginning of May, while lithium hydroxide prices in China had more than halved. ",{"type":570,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":575},"As a result, refiners saw the gross added value of their output erode the longer they waited between buying the ore and selling chemical products.  ",{"type":570,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":575},"Spodumene contract price mechanisms tied to either the Chinese domestic or seaborne Asian chemicals markets have now been updated to reflect the low price environment for carbonate and hydroxide seen throughout the first quarter, causing the 23% price drop this month.",{"type":570,"attrs":617,"content":618},{"textAlign":49},[619],{"type":620,"attrs":621},"image",{"id":49,"alt":622,"src":623,"title":49,"source":49,"copyright":49,"meta_data":624},"","https://a.storyblok.com/f/287943243085208/e50ca68b65/bm-spodumene-prices-may-2023.jpg",{},{"type":626,"attrs":627,"content":629},"heading",{"level":628,"textAlign":49},4,[630],{"text":631,"type":575},"The end of spodumene’s resilience",{"type":570,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":575},"Until the start of May, spodumene prices had maintained a relatively high level due to particularly long lag times in contracting, despite falling lithium chemicals prices. ",{"type":570,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":575},"Many spodumene contracts are also tied to the CIF Asia market, where chemicals prices have been higher than within China, especially since March 2023. ",{"type":570,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":575},"Lithium hydroxide spot CIF Asia prices were last recorded at $40,000 a tonne, according to Benchmark, compared to $32,950 a tonne in the Chinese market. ",{"type":570,"attrs":648,"content":649},{"textAlign":49},[650],{"text":651,"type":575},"Sustained ore demand from the refining sector itself has also played a part. Refiners have continued buying spodumene for conversion into hydroxide despite weak demand, since it is costly to shut down and restart the process. This has sustained the prices of their own inputs.",{"type":626,"attrs":653,"content":654},{"level":628,"textAlign":49},[655],{"text":656,"type":575},"Refiners respond to lithium squeeze",{"type":570,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":575},"Some Chinese refiners have decided to build up inventories, reporting to Benchmark that they will not sell to traders until they see a sustained upward trend. ",{"type":570,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":575},"Some converters have also been relying on non conventional lithium concentrates which have much more closely followed what’s going on in the Chinese domestic market.",{"type":570,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":575},"For lithium hydroxide, Chinese refiners have also been selling on the seaborne Asian and European markets, where price declines have lagged those seen in Chinese domestic markets. ",{"type":570,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":575},"Finally, some small unintegrated players shut down production. Anshan Heavy Duty Mining Machinery, one such player which sold its first chemicals last year, already halted production for two months in 2023 in response to high concentrate prices.",{"type":626,"attrs":678,"content":679},{"level":628,"textAlign":49},[680],{"text":681,"type":575},"Lithium chemical prices rebound ",{"type":570,"attrs":683,"content":684},{"textAlign":49},[685],{"text":686,"type":575},"The rebound in lithium chemical prices this month will be a welcome relief to the sector. ",{"type":570,"attrs":688,"content":689},{"textAlign":49},[690],{"text":691,"type":575},"Within China, spot prices for lithium hydroxide increased by 12.4% in the week 10 May – 17 May, as cathode manufacturers rushed to procure material in the anticipation that demand could grow in the near term.",{"type":570,"attrs":693,"content":694},{"textAlign":49},[695],{"text":696,"type":575},"Battery grade Chinese lithium carbonate prices registered a 19% increase over the past week to RMB 235,000 ($33,600) a tonne. ","Spodumene prices fell by 32% this month, in lagged response to low lithium chemicals prices, relieving some pressure on Chinese refiners after months of high input costs. The fortnight-on-fortnight spodumene drop is the sharpest single decline in spodumene prices since Benchmark began tracking the data, amounting to a 35% drop between 19 April and 17 […]",[699],{"slug":558,"name":559,"content":700},{"job_title":561,"image":701,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"c6f41563-0311-4cad-8f5f-3034c4b2f0c8\", \"id\": \"\"}-->","article",[705],{"slug":706,"name":8},"lithium","private",{"id":49,"alt":622,"name":622,"focus":622,"title":622,"source":622,"filename":709,"copyright":622,"fieldtype":710,"meta_data":711,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/07ff6c561c/bm-greenbushes-mine.jpg","asset",{"alt":622,"title":622,"source":622,"copyright":622},"May 18, 2023","18th May 2023",[],[],1780670075033]