[{"data":1,"prerenderedAt":1675},["ShallowReactive",2],{"ticker-data":3,"story-authors/adam-megginson":540,"stories-article-article/-content.date:desc-adam-megginson":561},[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":559,"relatedVideos":560},146688214635997,"3e10f1da-e581-4ca3-bfe6-9f6362f0828f","Adam Megginson","adam-megginson","authors/adam-megginson",{"x":547,"bio":548,"_uid":549,"email":547,"image":550,"linkedin":555,"component":556,"job_title":557,"markets_covered":558,"certification_name":547,"certification_recoginition":547,"certification_recoginition_url":547,"formattedDate":547,"formattedArticleDate":547},"","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..","7d8a49e1-db8e-414b-b501-4ffc36be1cd3",{"id":551,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":552,"copyright":547,"fieldtype":553,"meta_data":554,"is_external_url":50},148108003358517,"https://a.storyblok.com/f/287943243085208/512x512/f25205e28d/adam-megginson.jpeg","asset",{},"https://www.linkedin.com/in/adam-megginson/","author","Principal Analyst","Lithium,natural graphite, synthetic graphite, anode",[],[],[562,897,1184,1391],{"id":563,"uuid":564,"name":565,"slug":566,"full_slug":567,"content":568},176045228636176,"80c1a819-5c60-4407-ba5d-e6a023df02b5","Why are lithium prices surging in China again?","why-are-lithium-prices-surging-in-china-again-","article/why-are-lithium-prices-surging-in-china-again-",{"_uid":569,"date":570,"tags":571,"editor":590,"content":600,"excerpt":867,"featured":51,"reporter":868,"component":881,"seo_title":565,"categories":882,"visibility":888,"data_vis_image":889,"featured_image":891,"seo_description":895,"formattedDate":896},"7968222c-9631-452c-919e-7a81d082de60","2026-05-13 00:00",[572,575,578,581,584,587],{"slug":573,"name":574},"lithium-prices","Lithium prices",{"slug":576,"name":577},"china","China",{"slug":579,"name":580},"mali","Mali",{"slug":582,"name":583},"africa","Africa",{"slug":585,"name":586},"zimbabwe","Zimbabwe",{"slug":588,"name":589},"catl","CATL",[591],{"slug":592,"name":593,"content":594},"benjamin-roche","Benjamin Roche",{"job_title":595,"image":596,"bio":598,"linkedin":599},"Editor – Energy Transition Supply Chains",{"filename":597},"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":601,"content":602},"doc",[603,632,640,652,672,680,690,699,722,730,738,747,770,779,787,796,804,823,832,850,859],{"type":604,"attrs":605,"content":606},"paragraph",{"textAlign":49},[607,615,627],{"text":608,"type":609,"marks":610},"Lithium prices are rising significantly in China due to ","text",[611],{"type":612,"attrs":613},"textStyle",{"color":614},"#000000",{"text":616,"type":609,"marks":617},"feedstock constraints",[618,625],{"type":619,"attrs":620},"link",{"href":621,"uuid":622,"anchor":49,"target":623,"linktype":624},"/article/lithium-feedstock-concerns-over-nigeria-port-security-challenges","ac84d8a2-c5ff-4605-b178-01e220567c7e","_blank","story",{"type":612,"attrs":626},{"color":614},{"text":628,"type":609,"marks":629}," and increased input costs, against a backdrop of robust demand.",[630],{"type":612,"attrs":631},{"color":614},{"type":604,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":609,"marks":637},"According to Benchmark’s 13 May price assessment, battery grade lithium carbonate in China rose 23.3% month-on-month, while spodumene concentrate prices are up 29.9% over the same period.",[638],{"type":612,"attrs":639},{"color":614},{"type":641,"attrs":642,"content":644},"heading",{"level":643,"textAlign":49},2,[645],{"text":646,"type":609,"marks":647},"Lithium chemical inventories are still depleted",[648,650],{"type":612,"attrs":649},{"color":614},{"type":651},"bold",{"type":604,"attrs":653,"content":654},{"textAlign":49},[655,667],{"text":656,"type":609,"marks":657},"Inventory levels in China briefly built during April 2026",[658,662,665],{"type":619,"attrs":659},{"href":660,"uuid":661,"anchor":49,"target":623,"linktype":624},"/publications/analysis/monthly-lithium-inventory-china-april-2026","c160d123-802d-40c9-953d-aa269a9f5fff",{"type":612,"attrs":663},{"color":664},"#1155CC",{"type":666},"underline",{"text":668,"type":609,"marks":669},", after an eight-month period of destocking. However, early indications collected by Benchmark in May point to inventories returning to a drawdown position in China.",[670],{"type":612,"attrs":671},{"color":614},{"type":604,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":609,"marks":677},"Adam Megginson, lithium price analyst at Benchmark, said that “there remains a two-month gap before additional supply from PLS’s restarted Ngungaju operation combines with additional volume reaching the spot market from Zimbabwe to ease the supply situation. During this period, prices are likely to remain bullish and volatile, as the only factor rebalancing supply and demand.”",[678],{"type":612,"attrs":679},{"color":614},{"type":681,"attrs":682},"blok",{"id":683,"body":684},"fcecc2fd-714b-4c37-a9b5-f4f910f89819",[685],{"id":686,"_uid":687,"type":688,"component":689,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28941403","i-2873ee32-44fb-48e7-862e-a131e41ac113","visualisation","ContentFlourish",{"type":641,"attrs":691,"content":692},{"level":643,"textAlign":49},[693],{"text":694,"type":609,"marks":695},"Supply-side constraints in Africa",[696,698],{"type":612,"attrs":697},{"color":614},{"type":651},{"type":604,"attrs":700,"content":701},{"textAlign":49},[702,707,717],{"text":703,"type":609,"marks":704},"On the supply side, an export suspension in ",[705],{"type":612,"attrs":706},{"color":614},{"text":708,"type":609,"marks":709},"Zimbabwe has become a quota regime",[710,714,716],{"type":619,"attrs":711},{"href":712,"uuid":713,"anchor":49,"target":623,"linktype":624},"/article/zimbabwe-to-lift-lithium-concentrate-export-ban-with-stringent-conditions","3a50839c-53d8-42db-ba04-0293c9018f48",{"type":612,"attrs":715},{"color":664},{"type":666},{"text":718,"type":609,"marks":719},". The Zimbabwean government is also stepping up its efforts to assay material to more accurately determine grade and by-product contents and maximise export levies. Practical implementation issues are expected to slow exports over the short term. There thus remains a notable wait before these volumes ease current spodumene supply tightness.",[720],{"type":612,"attrs":721},{"color":614},{"type":604,"attrs":723,"content":724},{"textAlign":49},[725],{"text":726,"type":609,"marks":727},"With export quotas granted on a biannual basis, the possibility of renewed suspensions near the end of the year, when sulphate capacity pledges will meet the reality of project development timelines, offers further price support.",[728],{"type":612,"attrs":729},{"color":614},{"type":604,"attrs":731,"content":732},{"textAlign":49},[733],{"text":734,"type":609,"marks":735},"In Mali, renewed insurgent attacks raises the risk of supply disruption. While recent logistics attacks have not so far disrupted spodumene production or shipments out of Bougouni and Goulamina, the risk of curtailment remains. ",[736],{"type":612,"attrs":737},{"color":614},{"type":641,"attrs":739,"content":740},{"level":643,"textAlign":49},[741],{"text":742,"type":609,"marks":743},"Greenbushes production misses the mark ",[744,746],{"type":612,"attrs":745},{"color":614},{"type":651},{"type":604,"attrs":748,"content":749},{"textAlign":49},[750,755,765],{"text":751,"type":609,"marks":752},"In Australia, output at the world’s largest hard-rock mine, Greenbushes, was poor through Q1 2026. ",[753],{"type":612,"attrs":754},{"color":614},{"text":756,"type":609,"marks":757},"Low-quality ore,",[758,762,764],{"type":619,"attrs":759},{"href":760,"uuid":761,"anchor":49,"target":623,"linktype":624},"/article/greenbushes-downgrades-production-guidance-as-ore-grade-decline-accelerates","afd41dd3-acc7-4431-9c51-de8391eaa25b",{"type":612,"attrs":763},{"color":664},{"type":666},{"text":766,"type":609,"marks":767}," targeted as a result of mining operations failures and poor resource reconciliation, negatively affected recoveries while the ramp-up of its newest plant, CGP3, was briefly delayed. While company commentary expressed confidence in CGP3’s performance moving forward, ore quality and plant performance could hamper the operation for the remainder of 2026. ",[768],{"type":612,"attrs":769},{"color":614},{"type":641,"attrs":771,"content":772},{"level":643,"textAlign":49},[773],{"text":774,"type":609,"marks":775},"Hard rock supply faces explosives hurdle in China",[776,778],{"type":612,"attrs":777},{"color":614},{"type":651},{"type":604,"attrs":780,"content":781},{"textAlign":49},[782],{"text":783,"type":609,"marks":784},"Chinese supply may also face headwind from explosives availability – the government announced temporary control on purchasing and auditing of buyers following a fatal incident at a fireworks factory in Hunan province which killed 37 and injured dozens. Benchmark expects the control to last between one and two weeks. ",[785],{"type":612,"attrs":786},{"color":614},{"type":641,"attrs":788,"content":789},{"level":643,"textAlign":49},[790],{"text":791,"type":609,"marks":792},"Jianxiawo rumours continue to swirl",[793,795],{"type":612,"attrs":794},{"color":614},{"type":651},{"type":604,"attrs":797,"content":798},{"textAlign":49},[799],{"text":800,"type":609,"marks":801},"Rumours have continued to circulate regarding the restart of CATL's large Jianxiawo mine in Jiangxi Province. While the April appointment of Zijin founder Chen Jinghe to CATL’s newly founded mining arm raised restart hopes, sentiment among some market participants deteriorated since then. ",[802],{"type":612,"attrs":803},{"color":614},{"type":604,"attrs":805,"content":806},{"textAlign":49},[807,812,818],{"text":808,"type":609,"marks":809},"Citing a 10-month-old regulation restricting the mining of ores with grades below 0.4%, some circles have even floated the possibility of permanent closure.",[810],{"type":612,"attrs":811},{"color":614},{"text":813,"type":609,"marks":814}," ",[815,817],{"type":612,"attrs":816},{"color":614},{"type":651},{"text":819,"type":609,"marks":820},"Given several licence awards to operations targeting sub-0.4% ore since then, Jianxiawo among them, this would be a spurious basis for further delay. Benchmark’s bearish Jiangxi outlook remains tied to the politically sensitive nature of the operation’s tailings management. ",[821],{"type":612,"attrs":822},{"color":614},{"type":641,"attrs":824,"content":825},{"level":643,"textAlign":49},[826],{"text":827,"type":609,"marks":828},"Input costs pile additional pressure on converters",[829,831],{"type":612,"attrs":830},{"color":614},{"type":651},{"type":604,"attrs":833,"content":834},{"textAlign":49},[835,845],{"text":836,"type":609,"marks":837},"Prices for sulphuric acid",[838,842,844],{"type":619,"attrs":839},{"href":840,"uuid":49,"anchor":49,"target":49,"linktype":841},"https://intelligence.benchmarkminerals.com/article/china-to-potentially-ban-sulphuric-acid-exports-as-iran-war-pressures-supply","url",{"type":612,"attrs":843},{"color":664},{"type":666},{"text":846,"type":609,"marks":847}," – a key reagent in conversion flowsheets – continue to rally amid constrained supply out of the Strait of Hormuz. This is causing reduced utilisation rates at Chinese converters as supply scarcity squeezes converter margins.",[848],{"type":612,"attrs":849},{"color":614},{"type":641,"attrs":851,"content":852},{"level":643,"textAlign":49},[853],{"text":854,"type":609,"marks":855},"Demand from cathode producers remains robust",[856,858],{"type":612,"attrs":857},{"color":614},{"type":651},{"type":604,"attrs":860,"content":861},{"textAlign":49},[862],{"text":863,"type":609,"marks":864},"Downstream demand expectations of cell production have remained robust. Although unit vehicle sales in China are growing at a slower rate than earlier in the year, increasing vehicle pack sizes and robust commercial vehicle and truck electrified sales are making up the shortfall. This is in addition to a robust energy storage outlook.",[865],{"type":612,"attrs":866},{"color":614},"Lithium prices are rising significantly in China due to feedstock constraints and increased input costs, against a backdrop of robust demand.\n\nAccording to Benchmark’s 13 May price assessment, battery grade lithium carbonate in China rose 23.3% month-on-month, while spodumene concentrate prices are up 29.9% over the same period.",[869,872],{"slug":544,"name":543,"content":870},{"job_title":557,"image":871,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},{"slug":873,"name":874,"content":875},"luc-braun","Luc Braun",{"job_title":876,"image":877,"bio":879,"linkedin":880,"markets_covered":8},"Analyst - Lithium",{"filename":878},"https://a.storyblok.com/f/287943243085208/512x512/6f1a6949aa/luc-braun.jpeg","Luc is an analyst at Benchmark Mineral Intelligence focused on lithium supply, costs, and supply chains. Luc has a background in market analysis and research from previous roles where he covered nickel, deep seabed mining, and telecommunications. Luc holds an MPhys in Theoretical Physics from the University of Leeds.","https://www.linkedin.com/in/lucbraun/","article",[883,885],{"slug":884,"name":8},"lithium",{"slug":886,"name":887},"critical-minerals","Critical Minerals","private",{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":890},{},{"id":892,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":893,"copyright":547,"fieldtype":553,"meta_data":894,"is_external_url":50},129069437345516,"https://a.storyblok.com/f/287943243085208/d0a32e42e2/bm-lithium-mine.jpg",{},"Lithium prices are rising significantly in China due to feedstock constraints and increased input costs, against a backdrop of robust demand.","May 13, 2026",{"id":898,"uuid":899,"name":900,"slug":901,"full_slug":902,"content":903},165516591983591,"fd98e9b3-113b-4179-b249-104c9389ba9f","Volatile, yet robust: Lithium Q1 2026 Price Review","volatile-yet-robust-lithium-q1-2026-price-review","article/volatile-yet-robust-lithium-q1-2026-price-review",{"_uid":904,"date":905,"tags":906,"editor":914,"content":924,"excerpt":1165,"featured":51,"reporter":1166,"component":881,"seo_title":900,"categories":1170,"visibility":1173,"data_vis_image":1174,"featured_image":1178,"seo_description":1182,"formattedDate":1183},"12b20dfc-d962-4131-b2d0-0d705eec6c6b","2026-04-13 00:00",[907,910,911],{"slug":908,"name":909},"data-visualisation","Data Visualisation",{"slug":573,"name":574},{"slug":912,"name":913},"quarterly-price-review","Quarterly Price Review",[915],{"slug":916,"name":917,"content":918},"matthew-bird","Matthew Bird",{"job_title":919,"image":920,"bio":922,"linkedin":923},"Senior Editor - Supply Chains & Data Visualisation",{"filename":921},"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":601,"content":925},[926,950,986,993,1015,1051,1059,1093,1115,1123,1145,1155],{"type":604,"attrs":927,"content":928},{"textAlign":49},[929,935,945],{"text":930,"type":609,"marks":931},"The first quarter of 2026 marked a volatile, yet robust, quarter for lithium. Prices surged in January, driven by depleted inventories, ",[932],{"type":612,"attrs":933},{"color":934},"#18181B",{"text":936,"type":609,"marks":937},"supply disruptions",[938,943],{"type":619,"attrs":939},{"href":940,"uuid":941,"anchor":49,"target":942,"linktype":624},"/article/sigmas-brazil-issues-could-tighten-lithium-supply-dynamics","843c52cb-18a1-43d5-88f6-fce666ba998b","_self",{"type":612,"attrs":944},{"color":934},{"text":946,"type":609,"marks":947}," and policy optimism, before softening in February, and turning more cautious in March, as weaker EV demand figures weighed on sentiment.",[948],{"type":612,"attrs":949},{"color":934},{"type":604,"attrs":951,"content":952},{"textAlign":49},[953,958,967,972,981],{"text":954,"type":609,"marks":955},"In early January, ",[956],{"type":612,"attrs":957},{"color":934},{"text":959,"type":609,"marks":960},"Chinese",[961,965],{"type":619,"attrs":962},{"href":963,"uuid":964,"anchor":49,"target":942,"linktype":624},"/article/regional-spotlight-china","746036af-b9fc-4d0d-b721-56d0d1094635",{"type":612,"attrs":966},{"color":934},{"text":968,"type":609,"marks":969}," lithium prices ",[970],{"type":612,"attrs":971},{"color":934},{"text":973,"type":609,"marks":974},"rallied sharply",[975,979],{"type":619,"attrs":976},{"href":977,"uuid":978,"anchor":49,"target":942,"linktype":624},"/article/why-are-lithium-prices-in-china-soaring-this-week","5709f47a-e116-4be1-8db7-6794ce1a2288",{"type":612,"attrs":980},{"color":934},{"text":982,"type":609,"marks":983}," 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.",[984],{"type":612,"attrs":985},{"color":934},{"type":681,"attrs":987},{"id":988,"body":989},"87abd0c9-ab20-4d2b-9a48-185da68ec420",[990],{"id":991,"_uid":992,"type":688,"component":689,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28501901","i-49869ea5-b2f4-4ff1-88e6-586092781a1c",{"type":604,"attrs":994,"content":995},{"textAlign":49},[996,1001,1010],{"text":997,"type":609,"marks":998},"The rally was reinforced by mounting supply concerns, including ",[999],{"type":612,"attrs":1000},{"color":934},{"text":1002,"type":609,"marks":1003},"delays to the restart of mines in Jiangxi",[1004,1008],{"type":619,"attrs":1005},{"href":1006,"uuid":1007,"anchor":49,"target":942,"linktype":624},"/article/restart-of-catls-jianxiawo-lithium-mine-may-be-delayed-tightening-balance","e310a60b-1914-4b56-b78d-8646c714f378",{"type":612,"attrs":1009},{"color":934},{"text":1011,"type":609,"marks":1012}," following tighter Chinese scrutiny of industrial waste, tailings and permitting and environmental complaints.",[1013],{"type":612,"attrs":1014},{"color":934},{"type":604,"attrs":1016,"content":1017},{"textAlign":49},[1018,1023,1032,1037,1046],{"text":1019,"type":609,"marks":1020},"In ",[1021],{"type":612,"attrs":1022},{"color":934},{"text":1024,"type":609,"marks":1025},"early February",[1026,1030],{"type":619,"attrs":1027},{"href":1028,"uuid":1029,"anchor":49,"target":942,"linktype":624},"/article/deja-vu-in-battery-raw-materials-is-the-2021-playbook-repeating-","d935e80b-5abf-484c-a751-e698ccaf6e18",{"type":612,"attrs":1031},{"color":934},{"text":1033,"type":609,"marks":1034},", a broader commodity sell-off weighed on lithium futures, whilst bearish commentary from major cell makers surrounding ",[1035],{"type":612,"attrs":1036},{"color":934},{"text":1038,"type":609,"marks":1039},"oversupply",[1040,1044],{"type":619,"attrs":1041},{"href":1042,"uuid":1043,"anchor":49,"target":942,"linktype":624},"/article/what-does-albemarle-s-idling-of-kemerton-mean-for-australia-s-lithium-outlook-","0a24f1ec-69aa-416d-8eaf-e89f55bae6c2",{"type":612,"attrs":1045},{"color":934},{"text":1047,"type":609,"marks":1048}," and underestimated inventories helped puncture the spot price rally in China.",[1049],{"type":612,"attrs":1050},{"color":934},{"type":604,"attrs":1052,"content":1053},{"textAlign":49},[1054],{"text":1055,"type":609,"marks":1056},"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.",[1057],{"type":612,"attrs":1058},{"color":934},{"type":604,"attrs":1060,"content":1061},{"textAlign":49},[1062,1067,1076,1081,1088],{"text":1063,"type":609,"marks":1064},"Supply concerns then returned to the forefront after ",[1065],{"type":612,"attrs":1066},{"color":934},{"text":1068,"type":609,"marks":1069},"Zimbabwe moved to indefinitely suspend exports",[1070,1074],{"type":619,"attrs":1071},{"href":1072,"uuid":1073,"anchor":49,"target":942,"linktype":624},"/article/zimbabwe-suspends-lithium-concentrate-exports","604f5243-5659-4cc3-bbe4-a982e1bb429e",{"type":612,"attrs":1075},{"color":934},{"text":1077,"type":609,"marks":1078}," of raw minerals and lithium concentrates, reigniting fears over ",[1079],{"type":612,"attrs":1080},{"color":934},{"text":1082,"type":609,"marks":1083},"feedstock availability",[1084,1086],{"type":619,"attrs":1085},{"href":712,"uuid":713,"anchor":49,"target":942,"linktype":624},{"type":612,"attrs":1087},{"color":934},{"text":1089,"type":609,"marks":1090},". Combined with post-CNY restocking, this helped push prices higher once market activity resumed.",[1091],{"type":612,"attrs":1092},{"color":934},{"type":604,"attrs":1094,"content":1095},{"textAlign":49},[1096,1101,1110],{"text":1097,"type":609,"marks":1098},"From mid-March, however, demand concerns re-emerged, particularly following ",[1099],{"type":612,"attrs":1100},{"color":934},{"text":1102,"type":609,"marks":1103},"weaker EV sales",[1104,1108],{"type":619,"attrs":1105},{"href":1106,"uuid":1107,"anchor":49,"target":942,"linktype":624},"/article/lacklustre-ev-sales-and-geopolitical-tension-weigh-on-lithium-prices","7321793d-3b4f-4d2a-9e56-fcb067692f2f",{"type":612,"attrs":1109},{"color":934},{"text":1111,"type":609,"marks":1112}," 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.",[1113],{"type":612,"attrs":1114},{"color":934},{"type":604,"attrs":1116,"content":1117},{"textAlign":49},[1118],{"text":1119,"type":609,"marks":1120},"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.",[1121],{"type":612,"attrs":1122},{"color":934},{"type":604,"attrs":1124,"content":1125},{"textAlign":49},[1126,1131,1140],{"text":1127,"type":609,"marks":1128},"Overall, the quarter was defined less by a steady recovery than by sharp volatility, fragile confidence and persistent ",[1129],{"type":612,"attrs":1130},{"color":934},{"text":1132,"type":609,"marks":1133},"price sensitivity to supply risk",[1134,1138],{"type":619,"attrs":1135},{"href":1136,"uuid":1137,"anchor":49,"target":942,"linktype":624},"/article/benchmark-launches-industry-first-lithium-forward-curves","15214dcb-296e-4cd4-bf3a-d34bab23340a",{"type":612,"attrs":1139},{"color":934},{"text":1141,"type":609,"marks":1142},".",[1143],{"type":612,"attrs":1144},{"color":934},{"type":604,"attrs":1146,"content":1147},{"textAlign":49},[1148],{"text":1149,"type":609,"marks":1150},"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):",[1151,1153],{"type":612,"attrs":1152},{"color":934},{"type":1154},"italic",{"type":604,"attrs":1156,"content":1157},{"textAlign":49},[1158],{"text":1159,"type":609,"marks":1160},"Production quotas control nickel price: Nickel Q1 2026 Price Review",[1161],{"type":619,"attrs":1162},{"href":1163,"uuid":1164,"anchor":49,"target":942,"linktype":624},"/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.",[1167],{"slug":544,"name":543,"content":1168},{"job_title":557,"image":1169,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},[1171,1172],{"slug":886,"name":887},{"slug":884,"name":8},"public",{"id":1175,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1176,"copyright":547,"fieldtype":553,"meta_data":1177,"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",{},{"id":1179,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1180,"copyright":547,"fieldtype":553,"meta_data":1181,"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",{"id":1185,"uuid":1137,"name":1186,"slug":1187,"full_slug":1188,"content":1189},160888081268488,"Benchmark launches industry-first Lithium Forward Curves","benchmark-launches-industry-first-lithium-forward-curves","article/benchmark-launches-industry-first-lithium-forward-curves",{"_uid":1190,"date":1191,"tags":1192,"editor":1196,"content":1200,"excerpt":1206,"featured":50,"reporter":1367,"component":881,"seo_title":1186,"categories":1381,"visibility":1173,"data_vis_image":1384,"featured_image":1386,"seo_description":1206,"formattedDate":1390},"f7ad59d4-6ca0-4c64-acb7-12de72046e0b","2026-03-31 00:00",[1193],{"slug":1194,"name":1195},"benchmark","Benchmark",[1197],{"slug":916,"name":917,"content":1198},{"job_title":919,"image":1199,"bio":922,"linkedin":923},{"filename":921},{"type":601,"content":1201},[1202,1210,1218,1240,1248,1256,1264,1272,1280,1287,1295,1329,1337,1345,1354],{"type":604,"attrs":1203,"content":1204},{"textAlign":49},[1205],{"text":1206,"type":609,"marks":1207},"Benchmark Mineral Intelligence is pleased to announce the launch of its Lithium Forward Price Curves, providing the market with a new benchmark for year-ahead lithium price expectations across key battery raw material grades.",[1208],{"type":612,"attrs":1209},{"color":934},{"type":604,"attrs":1211,"content":1212},{"textAlign":49},[1213],{"text":1214,"type":609,"marks":1215},"The new service, launching next week, will cover forward prices for battery-grade CIF Asia lithium carbonate, lithium hydroxide and FOB Australia spodumene concentrate, drawing on aggregated positions from across the battery supply chain, including major lithium producers, traders, cathode manufacturers and OEMs.",[1216],{"type":612,"attrs":1217},{"color":934},{"type":604,"attrs":1219,"content":1220},{"textAlign":49},[1221,1226,1235],{"text":1222,"type":609,"marks":1223},"Benchmark’s Lithium Forward Price Curves have been developed in response to growing demand from the market for greater visibility into where lithium prices are heading next, at a ",[1224],{"type":612,"attrs":1225},{"color":934},{"text":1227,"type":609,"marks":1228},"time of heightened price",[1229,1233],{"type":619,"attrs":1230},{"href":1231,"uuid":1232,"anchor":49,"target":942,"linktype":624},"/article/automaker-exposure-to-lithium-prices-highlights-need-for-hedging","3c5b6177-fc1a-4177-9e1d-3c8e4bb0b052",{"type":612,"attrs":1234},{"color":934},{"text":1236,"type":609,"marks":1237}," volatility. With lithium markets continuing to experience sharp price movements and regional dislocations, understanding not only where prices are today, but where the market expects them to move over the coming 12 months, is increasingly important for strategic decision-making.",[1238],{"type":612,"attrs":1239},{"color":934},{"type":604,"attrs":1241,"content":1242},{"textAlign":49},[1243],{"text":1244,"type":609,"marks":1245},"One of the dominant themes in lithium pricing has been the delta between Chinese domestic and seaborne markets. Benchmark’s Lithium Forward Price Curve will provide unique insight into how market participants expect that relationship to evolve through 2026 and 2027, across both carbonate and hydroxide, while also offering a forward view on spodumene pricing.",[1246],{"type":612,"attrs":1247},{"color":934},{"type":604,"attrs":1249,"content":1250},{"textAlign":49},[1251],{"text":1252,"type":609,"marks":1253},"The new forward curves address one of the battery materials industry’s key blind spots: forward trajectory. While spot prices and supply-demand fundamentals remain critical, expectations for tomorrow’s prices play an equally important role in shaping contract negotiations, procurement strategies, investment decisions and broader market positioning.",[1254],{"type":612,"attrs":1255},{"color":934},{"type":604,"attrs":1257,"content":1258},{"textAlign":49},[1259],{"text":1260,"type":609,"marks":1261},"“Lithium is uniquely volatile, even among other tumultuous battery raw materials. 2026 is set to be a particularly dynamic year for this market,” said Adam Megginson, Principal Analyst at Benchmark.",[1262],{"type":612,"attrs":1263},{"color":934},{"type":604,"attrs":1265,"content":1266},{"textAlign":49},[1267],{"text":1268,"type":609,"marks":1269},"“The market has been calling out for greater transparency on forward expectations, and Benchmark has answered. Our Lithium Forward Price Curves provides subscribers with a unique insight into where the market expects prices to move next, helping participants better negotiate contract terms, strengthen purchasing and sales planning, and benchmark their own internal views against the wider market.”",[1270],{"type":612,"attrs":1271},{"color":934},{"type":604,"attrs":1273,"content":1274},{"textAlign":49},[1275],{"text":1276,"type":609,"marks":1277},"The Benchmark Lithium Forward Price Curves add a new dimension to Benchmark’s market-leading lithium price offering, complementing its existing spot price assessments and market analysis.",[1278],{"type":612,"attrs":1279},{"color":934},{"type":681,"attrs":1281},{"id":1282,"body":1283},"51d783ff-495d-429f-9d4e-df42557f187a",[1284],{"id":1285,"_uid":1286,"type":624,"component":689,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"3634394","i-86e47e23-a8a7-4cca-9e0d-c24e4c75ba4a",{"type":641,"attrs":1288,"content":1289},{"level":643,"textAlign":49},[1290],{"text":1291,"type":609,"marks":1292},"Why it matters:",[1293],{"type":612,"attrs":1294},{"color":934},{"type":1296,"content":1297},"bullet_list",[1298,1309,1319],{"type":1299,"content":1300},"list_item",[1301],{"type":604,"attrs":1302,"content":1303},{"textAlign":49},[1304],{"text":1305,"type":609,"marks":1306},"Facilitate contract negotiations by incorporating market expectations for year-ahead lithium pricing",[1307],{"type":612,"attrs":1308},{"color":934},{"type":1299,"content":1310},[1311],{"type":604,"attrs":1312,"content":1313},{"textAlign":49},[1314],{"text":1315,"type":609,"marks":1316},"More robust procurement and investment planning through clearer visibility on forward sentiment",[1317],{"type":612,"attrs":1318},{"color":934},{"type":1299,"content":1320},[1321],{"type":604,"attrs":1322,"content":1323},{"textAlign":49},[1324],{"text":1325,"type":609,"marks":1326},"Independent benchmarking of internal price views against aggregated expectations from across the supply chain",[1327],{"type":612,"attrs":1328},{"color":934},{"type":604,"attrs":1330,"content":1331},{"textAlign":49},[1332],{"text":1333,"type":609,"marks":1334},"Benchmark Mineral Intelligence is the world’s leading price reporting agency and market intelligence provider for the lithium ion battery to electric vehicle supply chain. Our lithium prices are adopted globally, with almost 50% of the EVs manufactured in the ex-China market in 2025 using Benchmark lithium prices in their supply chain contracts.  ",[1335],{"type":612,"attrs":1336},{"color":934},{"type":604,"attrs":1338,"content":1339},{"textAlign":49},[1340],{"text":1341,"type":609,"marks":1342},"Benchmark publishes lithium, cobalt, graphite, nickel, cathode, anode, black mass and rare earths price assessments and market intelligence to the highest IOSCO standards, helping market participants settle contracts, guide investment decisions and navigate an increasingly complex global supply chain.",[1343],{"type":612,"attrs":1344},{"color":934},{"type":604,"attrs":1346,"content":1347},{"textAlign":49},[1348],{"text":1349,"type":609,"marks":1350},"To learn more about Benchmark's Lithium Service, fill out the form below and one of the team will be in touch:",[1351,1353],{"type":612,"attrs":1352},{"color":934},{"type":1154},{"type":681,"attrs":1355},{"id":1356,"body":1357},"1a0bff14-c959-4a66-827f-b3cf50e1d67b",[1358],{"id":1359,"_uid":1360,"component":1361,"wrap_in_box":50,"redirect_url":1362,"success_file":1364,"default_height":547,"success_message":547,"v2_hubspot_form":50,"success_sub_text":547,"hidden_field_values":1366,"show_on_intelligence":50},"57a99950-73f5-48be-98a4-7324c28e5d0b","i-6904cab2-9492-482e-b05d-ad06ce346a31","ContentHubspotForm",{"id":547,"url":547,"linktype":624,"fieldtype":1363,"cached_url":547},"multilink",{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":1365},{},[],[1368,1371],{"slug":544,"name":543,"content":1369},{"job_title":557,"image":1370,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},{"slug":1372,"name":1373,"content":1374},"daniel-fletcher-manuel","Daniel Fletcher-Manuel",{"job_title":1375,"image":1376,"bio":1378,"linkedin":1379,"markets_covered":1380},"Director of Indexing & Derivatives",{"filename":1377},"https://a.storyblok.com/f/287943243085208/512x512/fe2cf2ae67/daniel-fetcher-manuel.png","Daniel is Director of Indexing & Derivatives at Benchmark Mineral Intelligence and is responsible for Benchmark’s price reporting agency (PRA) business, the development of new indexing solutions and financial derivatives. He has almost 15 years of experience in commodity pricing and commodity offtake contracts, advising commercial, procurement and treasury teams on commodity risk management. Daniel was a member of UK’s Department of Business & Trade’s taskforce to map the national battery supply chain, and regularly advises legislators in the US and EU on commodity price support mechanisms and strategies. Daniel read Biomedical Sciences at the University of Newcastle and is studying his LLM (Law) at BPP, specialising in international trade.","https://www.linkedin.com/in/daniel-fletcher-manuel/","Lithium, nickel, cobalt, natural graphite, synthetic graphite, anode, cathode, rare earths, black mass",[1382,1383],{"slug":884,"name":8},{"slug":886,"name":887},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":1385},{},{"id":1387,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1388,"copyright":547,"fieldtype":553,"meta_data":1389,"is_external_url":50},160889858638180,"https://a.storyblok.com/f/287943243085208/4752x3168/fd231baaf5/adobestock_85912969_lithium-piles.jpeg",{},"Mar 31, 2026",{"id":1392,"uuid":1107,"name":1393,"slug":1394,"full_slug":1395,"content":1396},150988924026811,"Lacklustre EV sales and geopolitical tension weigh on lithium prices","lacklustre-ev-sales-and-geopolitical-tension-weigh-on-lithium-prices","article/lacklustre-ev-sales-and-geopolitical-tension-weigh-on-lithium-prices",{"_uid":1397,"date":1398,"tags":1399,"editor":1402,"content":1406,"excerpt":1658,"featured":51,"reporter":1659,"component":881,"seo_title":1663,"categories":1664,"visibility":888,"data_vis_image":1667,"featured_image":1669,"seo_description":1673,"formattedDate":1674},"3424be92-1c78-489e-a90e-ee26573633ab","2026-03-03 00:00",[1400,1401],{"slug":576,"name":577},{"slug":573,"name":574},[1403],{"slug":916,"name":917,"content":1404},{"job_title":919,"image":1405,"bio":922,"linkedin":923},{"filename":921},{"type":601,"content":1407},[1408,1431,1451,1471,1478,1486,1517,1551,1557,1579,1599,1607,1615,1637,1645,1653],{"type":604,"attrs":1409,"content":1410},{"textAlign":49},[1411,1417,1426],{"text":1412,"type":609,"marks":1413},"Underwhelming ",[1414],{"type":612,"attrs":1415},{"color":1416},"#1D1C1D",{"text":1418,"type":609,"marks":1419},"EV sales figures",[1420,1424],{"type":619,"attrs":1421},{"href":1422,"uuid":1423,"anchor":49,"target":942,"linktype":624},"/article/ev-manufacturers-fail-to-meet-their-2025-expectations","7de458a0-0657-40d8-8d37-346c42d4def5",{"type":612,"attrs":1425},{"color":1416},{"text":1427,"type":609,"marks":1428}," by Chinese automakers in February and heightened geopolitical tensions in the Middle East combined leading to a dramatic drop in daily lithium prices.",[1429],{"type":612,"attrs":1430},{"color":1416},{"type":604,"attrs":1432,"content":1433},{"textAlign":49},[1434,1439,1446],{"text":1435,"type":609,"marks":1436},"On Tuesday 3rd of March 2026, the price of ",[1437],{"type":612,"attrs":1438},{"color":1416},{"text":1440,"type":609,"marks":1441},"lithium futures",[1442,1444],{"type":619,"attrs":1443},{"href":1231,"uuid":1232,"anchor":49,"target":942,"linktype":624},{"type":612,"attrs":1445},{"color":1416},{"text":1447,"type":609,"marks":1448}," on China’s Guangzhou Futures Exchange (GFEX) fell by its daily limit (13%) from around 172,000 RMB/tonne to 150,860 RMB/tonne.",[1449],{"type":612,"attrs":1450},{"color":1416},{"type":604,"attrs":1452,"content":1453},{"textAlign":49},[1454,1459,1467],{"text":1455,"type":609,"marks":1456},"Weakening sentiment amongst lithium futures traders was quickly mirrored in the physical spot market with Benchmark’s Lithium Carbonate (battery, spot) EXW China price settling at 157,100 RMB/tonne on 3 March, a 9.2% day-on-day decrease as assessed in ",[1457],{"type":612,"attrs":1458},{"color":1416},{"text":1460,"type":609,"marks":1461},"Benchmark's Lithium Price Assessment",[1462,1465],{"type":619,"attrs":1463},{"href":1464,"uuid":49,"anchor":49,"target":942,"linktype":841},"https://www.benchmarkminerals.com/lithium/prices",{"type":612,"attrs":1466},{"color":1416},{"text":1141,"type":609,"marks":1468},[1469],{"type":612,"attrs":1470},{"color":1416},{"type":681,"attrs":1472},{"id":1473,"body":1474},"7cad7a17-251f-42ea-8cfd-1be9b2bddbe6",[1475],{"id":1476,"_uid":1477,"type":688,"component":689,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"27874328","i-b5ccc140-676c-4988-bb87-58dab3c19568",{"type":641,"attrs":1479,"content":1480},{"level":643,"textAlign":49},[1481],{"text":1482,"type":609,"marks":1483},"Why did lithium futures on the GFEX crash by their daily limit?",[1484],{"type":612,"attrs":1485},{"color":614},{"type":604,"attrs":1487,"content":1488},{"textAlign":49},[1489,1498,1503,1512],{"text":1490,"type":609,"marks":1491},"Lacklustre EV sales figures",[1492,1496],{"type":619,"attrs":1493},{"href":1494,"uuid":1495,"anchor":49,"target":942,"linktype":624},"/article/global-ev-sales-reached-1-2-million-units-in-the-opening-month-of-2026","b27e8012-ca1b-4c7c-9200-1f5ccdbc7c24",{"type":612,"attrs":1497},{"color":1416},{"text":1499,"type":609,"marks":1500}," published by several Chinese automakers for February was a key factor weighing on lithium prices. ",[1501],{"type":612,"attrs":1502},{"color":1416},{"text":1504,"type":609,"marks":1505},"BYD",[1506,1510],{"type":619,"attrs":1507},{"href":1508,"uuid":1509,"anchor":49,"target":942,"linktype":624},"/article/in-charts-the-rise-of-byd","d138a8e7-adba-49a7-b52d-30b972975714",{"type":612,"attrs":1511},{"color":1416},{"text":1513,"type":609,"marks":1514}," was one of the worst performers with Feb sales down 41.1% year-on-year, the 6th consecutive month of decline. The shifting timing of the Chinese New Year holiday makes year-on-year comparisons more difficult. Nonetheless, the company’s sales across Jan-Feb 2026 were also notably lower than the same period in 2025.",[1515],{"type":612,"attrs":1516},{"color":1416},{"type":604,"attrs":1518,"content":1519},{"textAlign":49},[1520,1525,1532,1537,1546],{"text":1521,"type":609,"marks":1522},"Many EV-only automakers ",[1523],{"type":612,"attrs":1524},{"color":1416},{"text":1526,"type":609,"marks":1527},"missed their 2025 targets",[1528,1530],{"type":619,"attrs":1529},{"href":1422,"uuid":1423,"anchor":49,"target":942,"linktype":624},{"type":612,"attrs":1531},{"color":1416},{"text":1533,"type":609,"marks":1534}," on the back of lower than expected EV demand in China following ",[1535],{"type":612,"attrs":1536},{"color":1416},{"text":1538,"type":609,"marks":1539},"changes",[1540,1544],{"type":619,"attrs":1541},{"href":1542,"uuid":1543,"anchor":49,"target":942,"linktype":624},"/article/how-will-chinas-vat-rebate-changes-affect-the-battery-market","7d470beb-9ecf-4916-9e61-7f5c89a5397a",{"type":612,"attrs":1545},{"color":1416},{"text":1547,"type":609,"marks":1548}," to the country’s trade-in scheme.",[1549],{"type":612,"attrs":1550},{"color":1416},{"type":681,"attrs":1552},{"id":1473,"body":1553},[1554],{"id":1555,"_uid":1556,"type":688,"component":689,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"27876338","i-6982425f-f83f-4c93-af23-4c87ae4790eb",{"type":604,"attrs":1558,"content":1559},{"textAlign":49},[1560,1565,1574],{"text":1561,"type":609,"marks":1562},"The battery energy stationary storage (BESS) market has been a broadly positive story for demand over the last year. However, the ",[1563],{"type":612,"attrs":1564},{"color":1416},{"text":1566,"type":609,"marks":1567},"Middle East",[1568,1572],{"type":619,"attrs":1569},{"href":1570,"uuid":1571,"anchor":49,"target":942,"linktype":624},"/article/how-the-middle-east-is-fast-becoming-a-key-player-in-the-bess-industry","ed167b13-1dda-4a8c-8054-734c47d92672",{"type":612,"attrs":1573},{"color":1416},{"text":1575,"type":609,"marks":1576}," represented a significant growth area for the market with many ambitious projects planned over the next few years. The rapid escalation of conflict has led to anticipation of dampened BESS demand in the region.",[1577],{"type":612,"attrs":1578},{"color":1416},{"type":604,"attrs":1580,"content":1581},{"textAlign":49},[1582,1587,1594],{"text":1583,"type":609,"marks":1584},"Some traders have sold their lithium futures contracts to move money into petrochemical contracts to capitalise on rising oil prices directly resulting from conflicts in the ",[1585],{"type":612,"attrs":1586},{"color":1416},{"text":1566,"type":609,"marks":1588},[1589,1592],{"type":619,"attrs":1590},{"href":1591,"uuid":49,"anchor":49,"target":942,"linktype":841},"https://intelligence.benchmarkminerals.com/publications/special-issues/the-middle-east-and-north-africas-pivot-to-critical-minerals-and-clean-energy-2025",{"type":612,"attrs":1593},{"color":1416},{"text":1595,"type":609,"marks":1596},". Other traders have moved their money into cash to weather current market instability.",[1597],{"type":612,"attrs":1598},{"color":1416},{"type":604,"attrs":1600,"content":1601},{"textAlign":49},[1602],{"text":1603,"type":609,"marks":1604},"The large price fall in response to current events demonstrates that “opportunity cost” is a major influencing factor on lithium prices and that the GFEX hosts significant speculator capital.",[1605],{"type":612,"attrs":1606},{"color":1416},{"type":641,"attrs":1608,"content":1609},{"level":643,"textAlign":49},[1610],{"text":1611,"type":609,"marks":1612},"How will downstream players react?",[1613],{"type":612,"attrs":1614},{"color":614},{"type":604,"attrs":1616,"content":1617},{"textAlign":49},[1618,1623,1632],{"text":1619,"type":609,"marks":1620},"After ",[1621],{"type":612,"attrs":1622},{"color":614},{"text":1624,"type":609,"marks":1625},"lithium inventories",[1626,1630],{"type":619,"attrs":1627},{"href":1628,"uuid":1629,"anchor":49,"target":942,"linktype":624},"/article/lithium-chemical-prices-fall-as-inventory-builds","1e82c3c0-c12a-472b-bb6e-5dbc1c297262",{"type":612,"attrs":1631},{"color":614},{"text":1633,"type":609,"marks":1634}," were depleted in Q4 2025, increased purchases by downstream players which is typical early in the calendar year has remained insufficient to raise net inventory levels. This has supported recent upwards movements in the lithium price.",[1635],{"type":612,"attrs":1636},{"color":614},{"type":604,"attrs":1638,"content":1639},{"textAlign":49},[1640],{"text":1641,"type":609,"marks":1642},"Benchmark’s analysts estimate that a drop of approximately 10,000 RMB on the GFEX is sufficient to cause downstream players to increase their procurement activity. Although the price fall on 3rd of March exceeds this, it was sufficiently large to hit the exchange’s limit. This typically leads to a halt in trading which could prevent downstream players fully maximising on the lower price. Meanwhile, the move prompted a flurry of buying activity in the physical market.",[1643],{"type":612,"attrs":1644},{"color":614},{"type":604,"attrs":1646,"content":1647},{"textAlign":49},[1648],{"text":1649,"type":609,"marks":1650},"Previously, lithium prices eroded significantly after the CPCA reported underwhelming Chinese EV sales on 29 January 2026, with trading on GFEX also halting after hitting its limit. However, in that situation, weakening prices stimulated aggressive purchasing behaviour which ultimately reversed the downward price trend. Downstream participants are likely to be cautious about missing signs of market symmetry one month later, especially in the context of weaker than usual inventory levels in China.",[1651],{"type":612,"attrs":1652},{"color":614},{"type":604,"attrs":1654,"content":1655},{"textAlign":49},[1656],{"type":1657},"hard_break","Underwhelming EV sales figures by Chinese automakers in February and heightened geopolitical tensions in the Middle East combined leading to a dramatic drop in daily lithium prices.\nOn Tuesday 3rd of March 2026, the price of lithium futures on China’s Guangzhou Futures Exchange (GFEX) fell by its daily limit (13%) from around 172,000 RMB/tonne to 150,860 RMB/tonne.\nWeakening sentiment amongst lithium futures traders was quickly mirrored in the physical spot market with Benchmark’s Lithium Carbonate (battery, spot) EXW China price settling at 157,100 RMB/tonne on 3 March, a 9.2% day-on-day decrease.",[1660],{"slug":544,"name":543,"content":1661},{"job_title":557,"image":1662,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},"Lacklustre EV sales + geopolitical tension weigh on lithium price",[1665,1666],{"slug":886,"name":887},{"slug":884,"name":8},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":1668},{},{"id":1670,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1671,"copyright":547,"fieldtype":553,"meta_data":1672,"is_external_url":50},129066711562607,"https://a.storyblok.com/f/287943243085208/e2fc7a6dc0/bm-collage-prices-6.png",{},"Underwhelming EV sales figures by Chinese automakers in February and heightened geopolitical tensions in the Middle East combined leading to a dramatic drop in daily lithium prices.","Mar 03, 2026",1780501052099]