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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":751,"relatedVideos":752},112470168327895,"5eb87f93-67a4-4050-9e03-c1d89052ced6","What to expect for cathode markets in 2024?","what-to-expect-for-cathode-markets-in-2024","article/what-to-expect-for-cathode-markets-in-2024",{"_uid":547,"date":548,"tags":549,"editor":565,"content":575,"excerpt":720,"featured":50,"reporter":721,"_editable":725,"component":726,"seo_title":543,"categories":727,"visibility":741,"author_company":49,"data_vis_image":742,"featured_image":746,"seo_description":720,"author_full_name":49,"author_job_title":49,"formattedDate":749,"formattedArticleDate":750},"e1822833-956d-4540-a81a-68b8f0cf2c5a","2024-01-12 00:00",[550,553,556,559,562],{"slug":551,"name":552},"cathode-prices","Cathode prices",{"slug":554,"name":555},"cobalt-prices","Cobalt prices",{"slug":557,"name":558},"data-visualisation","Data Visualisation",{"slug":560,"name":561},"lithium-prices","Lithium prices",{"slug":563,"name":564},"nickel-prices","Nickel prices",[566],{"slug":567,"name":568,"content":569},"matthew-bird","Matthew Bird",{"job_title":570,"image":571,"bio":573,"linkedin":574},"Senior Editor - Supply Chains & Data Visualisation",{"filename":572},"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":576,"content":577},"doc",[578,595,608,628,633,646,659,671,676,683,692,696,704,708,712],{"type":579,"attrs":580,"content":581},"paragraph",{"textAlign":49},[582,585,593],{"text":583,"type":584},"The rise of cheaper ","text",{"text":586,"type":584,"marks":587},"lithium iron phosphate",[588],{"type":589,"attrs":590},"link",{"href":591,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/ncm-and-lfp-the-battle-for-cathode-chemistry-dominance","url",{"text":594,"type":584}," (LFP) batteries will continue this year, with the cell chemistry set to account for almost 50% of all market demand. ",{"type":579,"attrs":596,"content":597},{"textAlign":49},[598,600,606],{"text":599,"type":584},"LFP cells are forecast to increase their market share to 48% in 2024, from 45% of demand in 2023, according to ",{"text":601,"type":584,"marks":602},"Benchmark’s Lithium Ion Battery Database",[603],{"type":589,"attrs":604},{"href":605,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports",{"text":607,"type":584},". In contrast, the share of nickel cobalt manganese (NCM) cells on the market is set to decline to 42% from 43%.  ",{"type":579,"attrs":609,"content":610},{"textAlign":49},[611,613,619,621,626],{"text":612,"type":584},"This will have a particularly strong impact on the demand for ",{"text":614,"type":584,"marks":615},"cobalt",[616],{"type":589,"attrs":617},{"href":618,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://www.benchmarkminerals.com/forecasts/cobalt/reports",{"text":620,"type":584},". ",{"text":150,"type":584,"marks":622},[623],{"type":589,"attrs":624},{"href":625,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://www.benchmarkminerals.com/forecasts/nickel/reports",{"text":627,"type":584}," is expected to be in a surplus this year and lithium is set to see a balanced market in 2024.",{"type":579,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":584},"As supply outpaces demand, prices for these materials are expected to continue their 2023 trend and stay low. With much of the supply chain still concentrated in China, how companies in the country respond could have major impacts across the whole sector.",{"type":579,"attrs":634,"content":635},{"textAlign":49},[636,638,644],{"text":637,"type":584},"“How Chinese companies operate through the low price environment will be interesting,” ",{"text":639,"type":584,"marks":640},"Daisy Jennings-Gray",[641],{"type":589,"attrs":642},{"href":643,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/video/watch/analyst-insights-will-lithium-prices-recover",{"text":645,"type":584},", head of prices at Benchmark, said. “Prices are below operating costs for most battery chemicals going into 2024, so any supply-side response could drive bullish sentiment. That being said, China tends to push through these cycles rather than bring capacity offline.”",{"type":579,"attrs":647,"content":648},{"textAlign":49},[649,651,657],{"text":650,"type":584},"Lithium ion battery production is forecast to have hit ",{"text":652,"type":584,"marks":653},"one terawatt hour in 2023",[654],{"type":589,"attrs":655},{"href":656,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/battery-production-set-to-pass-1-twh-in-2023",{"text":658,"type":584}," and is set to grow another 33% in 2024. This is keeping pace with global demand, which continues to grow with sales of electric vehicles increasing 31% year-on-year last year, according to Rho Motion.",{"type":579,"attrs":660,"content":661},{"textAlign":49},[662,664,670],{"text":663,"type":584},"In addition, any further uptick in demand could help create stability for ",{"text":665,"type":584,"marks":666},"cathode markets",[667],{"type":589,"attrs":668},{"href":669,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/china-and-the-west-the-state-of-the-global-cathode-market",{"text":620,"type":584},{"type":579,"attrs":672,"content":673},{"textAlign":49},[674],{"text":675,"type":584},"Here, Benchmark Source outlines the key trends to watch for in 2024 in the cathode market.",{"type":677,"attrs":678,"content":680},"heading",{"level":679,"textAlign":49},4,[681],{"text":682,"type":584},"Cathode material",{"type":579,"attrs":684,"content":685},{"textAlign":49},[686],{"type":687,"attrs":688},"image",{"id":49,"alt":689,"src":690,"title":49,"source":49,"copyright":49,"meta_data":691},"Cathode prices fell 63% in 2023","https://a.storyblok.com/f/287943243085208/34971c6c29/bm-cathode-price-index-2023.png",{},{"type":677,"attrs":693,"content":694},{"level":679,"textAlign":49},[695],{"text":8,"type":584},{"type":579,"attrs":697,"content":698},{"textAlign":49},[699],{"type":687,"attrs":700},{"id":49,"alt":701,"src":702,"title":49,"source":49,"copyright":49,"meta_data":703},"Hard rock and brine will remain the dominant lithium sources in 2024","https://a.storyblok.com/f/287943243085208/8bf87e4f58/bm-lithium-sources-2023-2024-weighted.png",{},{"type":677,"attrs":705,"content":706},{"level":679,"textAlign":49},[707],{"text":150,"type":584},{"type":677,"attrs":709,"content":710},{"level":679,"textAlign":49},[711],{"text":115,"type":584},{"type":579,"attrs":713,"content":714},{"textAlign":49},[715],{"type":687,"attrs":716},{"id":49,"alt":717,"src":718,"title":49,"source":49,"copyright":49,"meta_data":719},"The DRC will remain the dominant country for cobalt production in 2024","https://a.storyblok.com/f/287943243085208/35568799dc/bm-cobalt-countries-2024.png",{},"The rise of cheaper lithium iron phosphate (LFP) batteries will continue this year, with the cell chemistry set to account for almost 50% of all market demand. LFP cells are forecast to increase their market share to 48% in 2024, from 45% of demand in 2023, according to Benchmark’s Lithium Ion Battery Database. In contrast, […]",[722],{"slug":567,"name":568,"content":723},{"job_title":570,"image":724,"bio":573,"linkedin":574},{"filename":572},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"e1822833-956d-4540-a81a-68b8f0cf2c5a\", \"id\": \"\"}-->","article",[728,731,733,734,737,739],{"slug":729,"name":730},"batteries","Batteries",{"slug":732,"name":298},"cathode",{"slug":614,"name":115},{"slug":735,"name":736},"critical-minerals","Critical Minerals",{"slug":738,"name":8},"lithium",{"slug":740,"name":150},"nickel","private",{"id":49,"alt":743,"name":743,"focus":743,"title":743,"source":743,"filename":690,"copyright":743,"fieldtype":744,"meta_data":745,"is_external_url":51},"","asset",{"alt":743,"title":743,"source":743,"copyright":743},{"id":49,"alt":743,"name":743,"focus":743,"title":743,"source":743,"filename":747,"copyright":743,"fieldtype":744,"meta_data":748,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/3022a8f8f6/bm-process-competence-center-battery-assembly.png",{"alt":743,"title":743,"source":743,"copyright":743},"Jan 12, 2024","12th January 2024",[],[],1782404289536]