Complements Existing Suite of Asia,
Europe and US Battery Metals &
Black Mass Price Assessments
SINGAPORE and NEW
YORK and LONDON,
July 8,
2024 /PRNewswire/ -- Platts, part of S&P Global
Commodity Insights, the leading independent provider of
information, data, analysis, benchmark prices and workflow
solutions for the commodities, energy, battery metals and energy
transition markets, has launched the world's first daily, spot
market recycled lithium carbonate price assessments.
As global attention shifts towards sustainability and energy
transition, S&P Global Commodity Insights anticipates a
substantial rise in the role of recycled lithium within the battery
material supply chain well into the future. China's total end-of-life battery availability
is forecast to surge to 438 GWh by 2032, up from 16 GWh in 2023,
according to the High Voltage Battery Recycling Study by
S&P Global Mobility, registering a compound annual growth rate
of over 44%. Similarly, end-of-life battery availability for
Japan and South Korea is forecast to reach 57 GWh by
2032, up from 2.3 GWh in 2023. These projections indicate that
recycled battery materials are poised to account for an
increasingly significant share of global demand, particularly
beyond 2030.
The introduction of new price assessments of recycled lithium
carbonate delivered duty-paid (DDP) in China and cost, insurance and freight (CIF) to
North Asia is in response to
growing demand from market participants for pricing transparency
and increased pricing information, as the recycled battery supply
chain develops further. The Platts Recycled Lithium
Carbonate DDP China and CIF North Asia launch follows a
period of market research and feedback and complements S&P
Global Commodity Insights' existing suite of battery metals
assessments in Asia, Europe
and the U.S. It also follows the successful addition of
first-of-kind daily assessments for China, Europe, and U.S. black mass in 2023.
Keith Tan, Associate Regional
Pricing Director, Asia Metals at
S&P Global Commodity Insights commented, "The world's first
price assessment for recycled lithium completes Platts pricing
offerings for the full lithium chain, from upstream spodumene
concentrate to downstream lithium chemicals and circling back to
upstream via black mass scrap and recycled origin material. Demand
for recycled lithium is expected to increase substantially as more
batteries reach end of life in the next decade. For US and EMEA
which are budding markets in terms of battery recycling, visibility
into Asia spot price activity for seaborne recycled lithium
carbonate will pave the way for greater transparency in the
recycling space."
Global battery electric vehicles in operation will reach 171
million units in 2032, according to S&P Global Mobility. The
expected increase in global EV sales will put huge pressure on the
supply chain, especially on critical battery raw materials such as
lithium. Recycled lithium stands in as a sustainable and
cost-effective lithium supply to manufacture EV batteries. By 2032,
S&P Global Mobility estimates around 900 GWh of end-of-life
batteries to be available for recycling. That is equivalent to
batteries for 12 million electric vehicles.
"From waste to wattage – recycled lithium reduces environmental
impact while championing closed-loop systems, providing a
sustainable solution to meet the growing demand for battery
materials," added Leah Chen, Team
Lead, Battery Metals, S&P Global Commodity Insights.
Platts recycled lithium carbonate DDP assessments reflect
standard battery grade quality at 99.5% Li2CO3 and other
specifications of a minimum of 20 metric tons, powder packed in
bags, delivered within 14 days forward, expressed in Yuan per
metric ton. The Platts recycled lithium carbonate CIF assessments
reflect similar quality and volume specifications but are for
delivery 15-60 days forward and are in US dollars per ton.
Indications for other qualities are considered and normalized to
Platts base standard specification, subject to prevailing market
differentials.
Click to view subscriber note and to access details on
Platts assessments methodology.
For more information, the Platts recycled lithium carbonate DDP
and CIF assessments are available via S&P Global Commodity
Insights products and services, including Platts Nonferrous
Metals Alert, Platts Metals Daily, Platts Connect, Platts Market
Center, and the Platts price database.
Media Contacts:
Americas: Kathleen Tanzy + 1
917-331-4607, kathleen.tanzy@spglobal.com
EMEA: Paul Sandell + 44 (0)7816 180039, paul.sandell@spglobal.com
Asia: Melissa Tan
+ 65-6597-6241, melissa.tan@spglobal.com
About S&P Global Commodity Insights
At S&P Global Commodity Insights, our complete view of global
energy and commodity markets enables our customers to make
decisions with conviction and create long-term, sustainable
value.
We're a trusted connector that brings together thought leaders,
market participants, governments, and regulators and we create
solutions that lead to progress. Vital to navigating commodity
markets, our coverage includes oil and gas, power, chemicals,
metals, agriculture, shipping and energy transition.
Platts® products and services, including leading
benchmark price assessments in the physical commodity markets, are
offered through S&P Global Commodity Insights. S&P Global
Commodity Insights maintains clear structural and operational
separation between its price assessment activities and the other
activities carried out by S&P Global Commodity Insights and the
other business divisions of S&P Global.
S&P Global Commodity Insights is a division of S&P
Global (NYSE: SPGI). S&P Global is the world's foremost
provider of credit ratings, benchmarks, analytics and workflow
solutions in the global capital, commodity and automotive markets.
With every one of our offerings, we help many of the world's
leading organizations navigate the economic landscape so they can
plan for tomorrow, today. For more information visit
https://www.spglobal.com/commodityinsights.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/sp-global-commodity-insights-launches-worlds-first-daily-recycled-lithium-carbonate-price-assessments-302190713.html
SOURCE S&P Global Commodity Insights