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Chains",{"filename":571},"https://a.storyblok.com/f/287943243085208/800x800/66d6674fb8/benjamin-roche.png","Benjamin is Benchmark's Editor for Energy Transition Supply Chains, covering both upstream products like critical minerals and downstream products including energy storage systems and electric vehicles. He has previous experience covering trade flows, tariffs and the effects of geopolitics on supply chains.","https://www.linkedin.com/in/benjaminrochecontent/",{"type":575,"content":576},"doc",[577,605,615,620,638,648,653,660,665,678,685,690,695],{"type":578,"attrs":579,"content":580},"paragraph",{"textAlign":49},[581,584,594,596,603],{"text":582,"type":583},"The conflict in the Middle East could have broad implications for the ","text",{"text":585,"type":583,"marks":586},"battery supply chain",[587],{"type":588,"attrs":589},"link",{"href":590,"uuid":591,"anchor":49,"target":592,"linktype":593},"/article/benchmark-intelligence-making-sense-of-the-energy-transitions-most-complex-supply-chains","be51d7fb-c724-4d05-929f-8eb7f653636e","_self","story",{"text":595,"type":583},", with global sulphur availability reduced while demand in China, the largest market for electric vehicles (EVs), could be dampened by inflationary pressures. There may be a boost for energy storage as nations again look to ",{"text":597,"type":583,"marks":598},"reduce reliance on oil and gas",[599],{"type":588,"attrs":600},{"href":601,"uuid":602,"anchor":49,"target":592,"linktype":593},"/article/sovereign-wealth-funds-support-the-middle-easts-pivot-to-clean-energy-supply-chains","dd5cc0ca-55e4-45c5-9b45-45e858a59fc0",{"text":604,"type":583},".",{"type":606,"attrs":607,"content":609},"heading",{"level":608,"textAlign":49},2,[610],{"text":611,"type":583,"marks":612},"Sulphur supply squeeze on MHP production",[613],{"type":614},"bold",{"type":578,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":583},"Supply of mixed nickel-cobalt hydroxide precipitate (MHP) could come under strain from the conflict, as production requires sulphur feedstock that is mostly sourced from Middle Eastern nations.",{"type":578,"attrs":621,"content":622},{"textAlign":49},[623,625,636],{"text":624,"type":583},"Saudi Arabia was the largest exporter of sulphur to Indonesia in 2025, the world’s largest MHP producer, offering 34.7% of the supply.",{"text":626,"type":583,"marks":627}," ",[628,632],{"type":588,"attrs":629},{"href":630,"uuid":49,"anchor":49,"target":49,"linktype":631},"#_msocom_2","url",{"type":633,"attrs":634},"textStyle",{"color":635},"",{"text":637,"type":583},"The UAE, Qatar, Kuwait and Bahrain also supplied large volumes of the commodity.",{"type":639,"attrs":640},"blok",{"id":641,"body":642},"62dde9aa-5de5-44e4-8d17-03cc721fcc7c",[643],{"id":644,"_uid":645,"type":646,"component":647,"fixed_height":635,"use_fixed_height":50,"fixed_height_mobile":635,"fixed_height_tablet":635},"27986480","i-10d01147-3f06-4ae9-b749-41c95f4c2aa1","visualisation","ContentFlourish",{"type":578,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":583},"Unlike oil and gas, sulphur cannot be moved through a pipeline and must be shipped as dry bulk freight. With MHP prices already elevated in 2026 compared with 2025, shipping constraints in the Strait of Hormuz could exert further upward pressure by restricting supply once existing inventory is exhausted. It could also drive MHP producers to reconsider import of sulphuric acid as an alternative.",{"type":606,"attrs":654,"content":655},{"level":608,"textAlign":49},[656],{"text":657,"type":583,"marks":658},"Chinese EV demand concerns, BESS boost possible",[659],{"type":614},{"type":578,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":583},"Consumer demand in China could take a hit from the broader effect on the country’s economy of reduced oil imports from the Middle East. Saudi Arabia was its second-largest oil supplier in 2025 after Russia, accounting for almost 14%, while the UAE provided 6.45% and Oman 6.13%. Sustained pressure on these supplies could drive inflation, which may in turn suppress new EV demand within China as consumers’ spending power is reduced.",{"type":578,"attrs":666,"content":667},{"textAlign":49},[668,670,677],{"text":669,"type":583},"There could be a boost for battery energy storage system (BESS) demand. Price spikes tighten the accessibility of fossil fuel-based energy, increasing the appeal of BESS as an alternative that reduces reliance on oil and gas imports. We are expecting shorter-term disruption to ",{"text":671,"type":583,"marks":672},"projects in development in the region",[673],{"type":588,"attrs":674},{"href":675,"uuid":676,"anchor":49,"target":592,"linktype":593},"/article/middle-east-escalation-disrupts-energy-storage-deployment-and-chinese-overseas-expansion","16e5191e-fffd-47f2-953d-ca1adb9595a5",{"text":604,"type":583},{"type":606,"attrs":679,"content":680},{"level":608,"textAlign":49},[681],{"text":682,"type":583,"marks":683},"Graphite",[684],{"type":614},{"type":578,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":583},"Landed natural graphite prices are likely to see some upward pressure in the coming months as a result of rising shipping costs. Shipping is a major component of delivered prices for the material, which - compared to other battery raw materials - is of relatively low value versus its weight.",{"type":578,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":583},"The impact on synthetic graphite prices could be more severe, as petroleum coke is one of the foremost feedstocks in its production. As oil output falters, availability of this byproduct will tighten. Oil refineries may opt to focus on the higher value and more profitable outputs from their processes while oil prices rally.",{"type":578,"attrs":696,"content":697},{"textAlign":49},[698],{"text":699,"type":583},"Broadly, the conflict is likely to raise input costs and disrupt raw material flows as well as retail EV demand.","The conflict in the Middle East could have broad implications for the battery supply chain, with global sulphur availability reduced while demand in China, the largest market for electric vehicles (EVs), could be dampened by inflationary pressures. There may be a boost for energy storage as nations again look to reduce reliance on oil and gas.",[702],{"slug":703,"name":704,"content":705},"will-talbot","Will Talbot",{"job_title":706,"image":707,"bio":709,"linkedin":710,"markets_covered":711},"Research Manager",{"filename":708},"https://a.storyblok.com/f/287943243085208/850x854/375bb3815a/will-t.png","Will Talbot is a Research Manager at Benchmark Mineral Intelligence, where he manages research and analysis within Benchmark’s Raw Materials Forecasting market area, with a particular focus on the cobalt and nickel markets. Will has a background in research and consulting across commodities and has specialised in the lithium-ion battery and electric vehicle markets for the past six years. He holds an MEng in Chemical Engineering from the University of Bath.","https://www.linkedin.com/in/will-talbot/","Cobalt, Nickel","article","What does Middle East conflict mean for battery supply chains?",[715,718,721,724,726,728],{"slug":716,"name":717},"ess","ESS",{"slug":719,"name":720},"ev","EV",{"slug":722,"name":723},"geopolitics","Geopolitics",{"slug":725,"name":150},"nickel",{"slug":727,"name":115},"cobalt",{"slug":729,"name":682},"graphite","private",{"id":49,"alt":49,"name":635,"focus":49,"title":49,"source":49,"filename":635,"copyright":49,"fieldtype":732,"meta_data":733},"asset",{},{"id":735,"alt":635,"name":635,"focus":635,"title":635,"source":635,"filename":736,"copyright":635,"fieldtype":732,"meta_data":737,"is_external_url":50},129071188877946,"https://a.storyblok.com/f/287943243085208/be75bca5df/bm-saudi-arabia-1.jpg",{},"The conflict in the Middle East could have broad implications for the battery supply chain, with global sulphur availability reduced while demand in China, the largest market for electric vehicles (EVs), could be dampened by inflationary pressures.","Mar 11, 2026","11th March 2026",[],[],1780670041492]