Benchmark Launches Lithium Ion Battery Raw Material Price Index

Benchmark launches lithium ion battery raw material price index.

Benchmark Mineral Intelligence is delighted announce the launch of its Lithium ion Battery Raw Material Price Index. 

The new index allows users to accurately track real-world movements in lithium ion battery raw material prices relative to key cathode types within the supply chain and track the shifting cost structure of a key component of cathode and cell supply contracts.

As the world-leading price reporting agency for battery minerals, Benchmark assembles the index using its market-leading price assessments including the IOSCO-accredited lithium, nickel, and cobalt prices.

Benchmark also collects data for manganese sulphate and iron phosphate in-house to complete the index.

The index is published every month for the following lithium ion battery chemistries:

• NCM High-Nickel (8 and 9 series blends)
• NCM Mid-Nickel (5,6, and 7 series blends) 
• LFP (lithium iron phosphate)

Caspar Rawles, Benchmark’s Chief Data Officer said:

Benchmark launched this index as the company strives to bring transparency to opaque markets within the lithium ion battery supply chain.

“The new index will allow users to confidently track the relative change in the cost of critical battery raw materials, set contracts that are accurate to the real-world movements in raw material prices, and conduct research on the volatile cost environment of key lithium ion battery cathode types.”

HOW IS THE INDEX USED?

The index is designed to be used directly by industry participants who wish to follow the relative changes of key raw material input costs of lithium ion batteries.

For example, buyers and sellers of lithium ion battery containing products often set contracts based on a cost pass through structure for raw materials, but they cannot share confidential information on upstream contract prices leading to a disconnect between buyer and seller.

The index can be used to accurately tie contracts for cells to the raw material input in an open and transparent fashion.

The index is free to use and is published monthly via Benchmark’s Lithium ion Battery Raw Material Price Index page. The underlying data is available to integrate directly into the users’ own analyses via a data feed. 

HOW IS THE INDEX CREATED?

For each battery chemistry, the index represents a weighted average change in the cost of the raw materials used to make the cathode indexed against a base of 100 in January 2020.

The index only considers the basket of raw material inputs for the cathode and does not account for anode materials or costs associated with refining and processing, or additional materials.

The input prices are chosen based on the technical and geographical features of each battery chemistry (for instance LFP production is almost wholly concentrated in China). 

The index covers the following battery chemistries:

NCM MID-NICKEL

• Lithium hydroxide (CIF Asia)
• Cobalt hydroxide (CIF Asia)
• Nickel sulphate (CIF Asia)
• Manganese sulphate

NCM HIGH-NICKEL

• Lithium hydroxide (CIF Asia)
• Cobalt hydroxide (CIF Asia)
• Nickel sulphate (CIF Asia)
• Manganese sulphate

LFP

• Battery grade lithium carbonate (EXW China)
• Battery grade anhydrous iron phosphate

Lithium, cobalt, and nickel price data used in the index can be accessed through Benchmark’s price assessment subscriptions. 

ACCESS BENCHMARK’S LITHIUM ION BATTERY RAW MATERIAL PRICE INDEX NOW

Benchmark’s industry-leading price data is built directly into the index, meaning it can be trusted as a reliable tool. Use it now for free on Benchmark’s Lithium ion Battery Raw Material Price Index page.

To learn more about Benchmark’s Lithium ion Battery Raw Material Price Index or to subscribe to our price assessment services fill in the form below:

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BENCHMARK LAUNCHES LITHIUM ION BATTERY RAW MATERIAL PRICE INDEX, April 13, 2022