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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":570,"content":571},"doc",[572,601,637,648,670,706,714,750,772,780,802,812],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576,584,596],{"text":577,"type":578,"marks":579},"The first quarter of 2026 marked a volatile, yet robust, quarter for lithium. Prices surged in January, driven by depleted inventories, ","text",[580],{"type":581,"attrs":582},"textStyle",{"color":583},"#18181B",{"text":585,"type":578,"marks":586},"supply disruptions",[587,594],{"type":588,"attrs":589},"link",{"href":590,"uuid":591,"anchor":49,"target":592,"linktype":593},"/article/sigmas-brazil-issues-could-tighten-lithium-supply-dynamics","843c52cb-18a1-43d5-88f6-fce666ba998b","_self","story",{"type":581,"attrs":595},{"color":583},{"text":597,"type":578,"marks":598}," and policy optimism, before softening in February, and turning more cautious in March, as weaker EV demand figures weighed on sentiment.",[599],{"type":581,"attrs":600},{"color":583},{"type":573,"attrs":602,"content":603},{"textAlign":49},[604,609,618,623,632],{"text":605,"type":578,"marks":606},"In early January, ",[607],{"type":581,"attrs":608},{"color":583},{"text":610,"type":578,"marks":611},"Chinese",[612,616],{"type":588,"attrs":613},{"href":614,"uuid":615,"anchor":49,"target":592,"linktype":593},"/article/regional-spotlight-china","746036af-b9fc-4d0d-b721-56d0d1094635",{"type":581,"attrs":617},{"color":583},{"text":619,"type":578,"marks":620}," lithium prices ",[621],{"type":581,"attrs":622},{"color":583},{"text":624,"type":578,"marks":625},"rallied sharply",[626,630],{"type":588,"attrs":627},{"href":628,"uuid":629,"anchor":49,"target":592,"linktype":593},"/article/why-are-lithium-prices-in-china-soaring-this-week","5709f47a-e116-4be1-8db7-6794ce1a2288",{"type":581,"attrs":631},{"color":583},{"text":633,"type":578,"marks":634}," as inventories sat at notably low levels across the domestic supply chain. Sentiment improved on expectations of government stimulus, resilience in EV and particularly ESS demand, and speculative momentum in domestic futures markets.",[635],{"type":581,"attrs":636},{"color":583},{"type":638,"attrs":639},"blok",{"id":640,"body":641},"87abd0c9-ab20-4d2b-9a48-185da68ec420",[642],{"id":643,"_uid":644,"type":645,"component":646,"fixed_height":647,"use_fixed_height":50,"fixed_height_mobile":647,"fixed_height_tablet":647},"28501901","i-49869ea5-b2f4-4ff1-88e6-586092781a1c","visualisation","ContentFlourish","",{"type":573,"attrs":649,"content":650},{"textAlign":49},[651,656,665],{"text":652,"type":578,"marks":653},"The rally was reinforced by mounting supply concerns, including ",[654],{"type":581,"attrs":655},{"color":583},{"text":657,"type":578,"marks":658},"delays to the restart of mines in Jiangxi",[659,663],{"type":588,"attrs":660},{"href":661,"uuid":662,"anchor":49,"target":592,"linktype":593},"/article/restart-of-catls-jianxiawo-lithium-mine-may-be-delayed-tightening-balance","e310a60b-1914-4b56-b78d-8646c714f378",{"type":581,"attrs":664},{"color":583},{"text":666,"type":578,"marks":667}," following tighter Chinese scrutiny of industrial waste, tailings and permitting and environmental complaints.",[668],{"type":581,"attrs":669},{"color":583},{"type":573,"attrs":671,"content":672},{"textAlign":49},[673,678,687,692,701],{"text":674,"type":578,"marks":675},"In ",[676],{"type":581,"attrs":677},{"color":583},{"text":679,"type":578,"marks":680},"early February",[681,685],{"type":588,"attrs":682},{"href":683,"uuid":684,"anchor":49,"target":592,"linktype":593},"/article/deja-vu-in-battery-raw-materials-is-the-2021-playbook-repeating-","d935e80b-5abf-484c-a751-e698ccaf6e18",{"type":581,"attrs":686},{"color":583},{"text":688,"type":578,"marks":689},", a broader commodity sell-off weighed on lithium futures, whilst bearish commentary from major cell makers surrounding ",[690],{"type":581,"attrs":691},{"color":583},{"text":693,"type":578,"marks":694},"oversupply",[695,699],{"type":588,"attrs":696},{"href":697,"uuid":698,"anchor":49,"target":592,"linktype":593},"/article/what-does-albemarle-s-idling-of-kemerton-mean-for-australia-s-lithium-outlook-","0a24f1ec-69aa-416d-8eaf-e89f55bae6c2",{"type":581,"attrs":700},{"color":583},{"text":702,"type":578,"marks":703}," and underestimated inventories helped puncture the spot price rally in China.",[704],{"type":581,"attrs":705},{"color":583},{"type":573,"attrs":707,"content":708},{"textAlign":49},[709],{"text":710,"type":578,"marks":711},"Following this period, spot market activity slowed. Converter inventories remained tight and sellers were reluctant to release material at lower levels. As the market moved into the Chinese New Year (CNY) period, much of the lithium industry came to a standstill, with facilities pausing operations and trading stymied.",[712],{"type":581,"attrs":713},{"color":583},{"type":573,"attrs":715,"content":716},{"textAlign":49},[717,722,731,736,745],{"text":718,"type":578,"marks":719},"Supply concerns then returned to the forefront after ",[720],{"type":581,"attrs":721},{"color":583},{"text":723,"type":578,"marks":724},"Zimbabwe moved to indefinitely suspend exports",[725,729],{"type":588,"attrs":726},{"href":727,"uuid":728,"anchor":49,"target":592,"linktype":593},"/article/zimbabwe-suspends-lithium-concentrate-exports","604f5243-5659-4cc3-bbe4-a982e1bb429e",{"type":581,"attrs":730},{"color":583},{"text":732,"type":578,"marks":733}," of raw minerals and lithium concentrates, reigniting fears over ",[734],{"type":581,"attrs":735},{"color":583},{"text":737,"type":578,"marks":738},"feedstock availability",[739,743],{"type":588,"attrs":740},{"href":741,"uuid":742,"anchor":49,"target":592,"linktype":593},"/article/zimbabwe-to-lift-lithium-concentrate-export-ban-with-stringent-conditions","3a50839c-53d8-42db-ba04-0293c9018f48",{"type":581,"attrs":744},{"color":583},{"text":746,"type":578,"marks":747},". Combined with post-CNY restocking, this helped push prices higher once market activity resumed.",[748],{"type":581,"attrs":749},{"color":583},{"type":573,"attrs":751,"content":752},{"textAlign":49},[753,758,767],{"text":754,"type":578,"marks":755},"From mid-March, however, demand concerns re-emerged, particularly following ",[756],{"type":581,"attrs":757},{"color":583},{"text":759,"type":578,"marks":760},"weaker EV sales",[761,765],{"type":588,"attrs":762},{"href":763,"uuid":764,"anchor":49,"target":592,"linktype":593},"/article/lacklustre-ev-sales-and-geopolitical-tension-weigh-on-lithium-prices","7321793d-3b4f-4d2a-9e56-fcb067692f2f",{"type":581,"attrs":766},{"color":583},{"text":768,"type":578,"marks":769}," signals in China, which placed renewed downward pressure on domestic prices. Seaborne Asia prices, which lagged upward movements in the domestic market for most of Q1, proved more resilient. They were supported by confirmed spot transactions and still-elevated replacement costs.",[770],{"type":581,"attrs":771},{"color":583},{"type":573,"attrs":773,"content":774},{"textAlign":49},[775],{"text":776,"type":578,"marks":777},"Despite the more bearish tone throughout March, Benchmark’s CIF Asia lithium carbonate spot assessment ended the quarter up ~51% YTD, reflecting the strength of the notable gains made earlier in Q1.",[778],{"type":581,"attrs":779},{"color":583},{"type":573,"attrs":781,"content":782},{"textAlign":49},[783,788,797],{"text":784,"type":578,"marks":785},"Overall, the quarter was defined less by a steady recovery than by sharp volatility, fragile confidence and persistent ",[786],{"type":581,"attrs":787},{"color":583},{"text":789,"type":578,"marks":790},"price sensitivity to supply risk",[791,795],{"type":588,"attrs":792},{"href":793,"uuid":794,"anchor":49,"target":592,"linktype":593},"/article/benchmark-launches-industry-first-lithium-forward-curves","15214dcb-296e-4cd4-bf3a-d34bab23340a",{"type":581,"attrs":796},{"color":583},{"text":798,"type":578,"marks":799},".",[800],{"type":581,"attrs":801},{"color":583},{"type":573,"attrs":803,"content":804},{"textAlign":49},[805],{"text":806,"type":578,"marks":807},"This is the first in a series of articles looking at Q1 2026 critical mineral price trends. The rest of the series can be found below (will be updated as more are released):",[808,810],{"type":581,"attrs":809},{"color":583},{"type":811},"italic",{"type":573,"attrs":813,"content":814},{"textAlign":49},[815],{"text":816,"type":578,"marks":817},"Production quotas control nickel price: Nickel Q1 2026 Price Review",[818],{"type":588,"attrs":819},{"href":820,"uuid":821,"anchor":49,"target":592,"linktype":593},"/article/production-quotas-control-nickel-price-nickel-q1-2026-price-review","9e149244-10b5-4bac-a43c-079b19971251","The first quarter of 2026 marked a volatile, yet robust, quarter for lithium. Prices surged in January, driven by depleted inventories, supply disruptions and policy optimism, before softening in February, and turning more cautious in March, as weaker EV demand figures weighed on sentiment.\nIn early January, Chinese lithium prices rallied sharply as inventories sat at notably low levels across the domestic supply chain. Sentiment improved on expectations of government stimulus, resilience in EV and particularly ESS demand, and speculative momentum in domestic futures markets.",[824],{"slug":825,"name":826,"content":827},"adam-megginson","Adam Megginson",{"job_title":828,"image":829,"bio":831,"linkedin":832,"markets_covered":833},"Principal Analyst",{"filename":830},"https://a.storyblok.com/f/287943243085208/512x512/f25205e28d/adam-megginson.jpeg","Adam is a Principal Analyst at Benchmark Mineral Intelligence and is responsible for the lithium, graphite, synthetic graphite and anode price assessments. Adam is in constant communication with buyers, sellers, traders and distributors to collect first-hand price data and insights which are published in Benchmark's price assessments. He has presented battery supply chain analysis to executives and senators in the UK, US, France, Morocco, Germany and Japan. Before joining Benchmark, Adam worked at an energy transition impact investment company. There he focussed on distributing LPG smartmeters for cooking in Kenya and Tanzania. Adam graduated with a First Class Honours BSc in International Management from Warwick Business School..","https://www.linkedin.com/in/adam-megginson/","Lithium,natural graphite, synthetic graphite, anode","article",[836,839],{"slug":837,"name":838},"critical-minerals","Critical Minerals",{"slug":840,"name":8},"lithium","public",{"id":843,"alt":647,"name":647,"focus":647,"title":647,"source":647,"filename":844,"copyright":647,"fieldtype":845,"meta_data":846,"is_external_url":50},165518774602992,"https://a.storyblok.com/f/287943243085208/1600x1556/daa16e54be/q4-q1-2026-li-carbonate_hydroxide-exw-china-price-vs-inventory-2x.png","asset",{},{"id":848,"alt":647,"name":647,"focus":647,"title":647,"source":647,"filename":849,"copyright":647,"fieldtype":845,"meta_data":850,"is_external_url":50},129072823997951,"https://a.storyblok.com/f/287943243085208/c1b4a53c46/bm-spodumene5.jpg",{},"The first quarter of 2026 marked a volatile, yet robust, quarter for lithium. Prices surged in January, driven by depleted inventories, supply disruptions and policy optimism, before softening in February, and turning more cautious in March.","Apr 13, 2026","13th April 2026",[],[],{"id":857,"uuid":858,"name":859,"slug":860,"full_slug":860,"content":861,"relatedArticles":865,"relatedVideos":866},120886048076734,"4b6fbcc0-7881-4fbb-92ee-06d1ed3f3cec","⚙️ Settings","settings",{"_uid":862,"component":860,"black_listed_email_domains":863,"_editable":864,"formattedDate":647,"formattedArticleDate":647},"8dcafbcc-28de-4388-a68e-6b41e24f31bb","direkt.se\nstreetwisereports.com\nalpha-sense.com\nafrica-energy.com\ntcs.com\nmm-markets.com\nsmr-premium.com\nsci99.com\nlondoncib.com\nyeb.com.br\nnewautomotive.org\nsina.com.cn\ngwstrategies.net\noliverwyman.com\ndazeinfo.com\ndataintelo.com\ninfyos.com\nevalueserve.com\ninsightwoo.com\ncrescendoanalytic.com\nipaglobal.com\nweare121.com\nzemek.com\nryancommodityinsights.com\nonyxsi.com\ncostmine.com\nnickhatchmining.com\naethoslabs.com\nmysteel.com\nbuzblox.com\nfutureproofconsulting.com.au\ncmgroup.net\noptelgroup.com\nberylls.com\nreputex.com\nnumber-three.net\nrobertdallison.com\nwsp.com\nafriforesight.com\npaydirt.com.au\nmetal.com\ninforma.com\nfelixstrategy.com\ncrisil.com\nantaike.com\nbatterymaterialsreview.com\nsrk.com\nglobaltrustgrp.com\nnapiermeridian.com\nprojectblue.com\nplutonic-rma.com\nrosaearth.io\ndrivesustainability.org\nminehub.com\nscsglobalservices.com\nLynxglobalintelligence.com\nsphera.com\nminespider.com\nc-resource.com\ntdi-sustainability.com\nkumi.consulting\nsc-insights.com\nkallanish.com\naboutenergy.co.uk\nenant.io\nopisnet.com\nacuitycommodities.com\nevinfocus.com\nsfa-oxford.com\ncrugroup.com\nwoodmac.com\nspglobal.com\nrolandberger.com\nrcsglobal.com\nnornik.ru\nlivista.energy\nihsmarkit.com\ncapitalightresearch.com\namegroup.com\ncapitalight.co\nsustainablelabs.io\ncommoditiesanalysis.co.uk\navicenne.com\nkearney.com\nnornickel.net\n5napier.com\nvoltility.net\ngf.com.cn\nhindenburgresearch.com\ndigbee.com\nadamasintel.com\nac-harvard.com\nsneresearch.com\ninventusbioenergy.com\nproactiveinvestors.com\nauroraer.com\nresourceworld.com\nbatteryline.com\norennia.com\nfastmarkets.com\nmsci.com\nbcg.com\nklinegroup.com\ndelta-ee.com\nskarnassociates.com\nricardo.com\ncleanhorizon.com\np3-group.com\naccenture.com\nporsche-consulting.com\numlaut.com\nadi-analytics.com\ncpmgroup.com\nilimarkets.com\nminviro.com\nmckinsey.com\ncicenergigune.com\ne4tech.com\nargusmedia.com\ndolbear.com\nerm.com\nlithium.org\nradiusq.com\ndigivla.com\njeri.co.jp\ntopology.com.tw\nsaurenergy.com\novaladvisory.com\ngsixenergy.com","\u003C!--#storyblok#{\"name\": \"settings\", \"space\": \"287943243085208\", \"uid\": \"8dcafbcc-28de-4388-a68e-6b41e24f31bb\", \"id\": \"120886048076734\"}-->",[],[],1784633788335]