RE: 62 to 652 Feb 2021 20:39
Back to the future
Lithium carbonate prices increased by over 40% within China in January 2021 on the back of continued surging lithium iron phosphate (LFP) battery demand, the newest assessment from Benchmark shows.
The midpoint, prevailing transacted price of the Benchmark Lithium Carbonate, Technical Grade, EXW China, =99.0% Li2CO3, increased by 41.35% to $8,375/tonne (RMB54,000/tonne).
Meanwhile, the midpoint, prevailing transacted price of the Benchmark Lithium Carbonate, Battery Grade, EXW China, =99.5% Li2CO3, rose by 41.04% to $9,450/tonne (RMB61,000/tonne).
George Miller, Lithium Analyst at Benchmark said:
“Lithium ion battery related policy incentives in China are geared towards subsidising shorter-range vehicles, public transport fleet electrification, 5G power stations, all of which encourage LFP consumption.
“It’s back to the future for lithium in China."
“Demand for durable, improved, and low cost LFP cathode material has become rejuvenated in China – a very similar story to what we saw in lithium’s last price run of 2016 but with a much improved product for the 2020s."
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HERE'S WHAT ELSE YOU NEED TO KNOW
Joe Biden has announced his intention to replace the US government's federal fleet with "clean electric vehicles made right in America". Benchmark's analysis shows that transitioning the US federal fleet of 645,000 vehicles to 100% EVs would require approximately 69 GWh of battery cells, with significant increases in battery raw material demand.
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