Platts launches first daily US lithium carbonate spot price assessment

Platts, part of S&P Global Commodity Insights, has launched a daily spot price assessment for US lithium carbonate, effective Jan. 29.

The new DDP US assessment, which Platts understands to be the first daily assessment for the US lithium market, complements Platts established suite of battery metals assessments in Asia and Europe, and follows the successful addition of first-of-kind daily assessments for US black mass in August 2023.

The launch responds to growing demand from market participants for increased pricing information on battery-grade lithium carbonate delivered into the US, as the North American battery supply chain further develops.

New government policies such as the Inflation Reduction Act have boosted domestic electric vehicle sales and accelerated a global movement to localize the mine-to-market EV value chains, while interest in energy storage has also intensified for overall energy transition.

An S&P Global study indicated that, post-IRA, US energy-transition demand for lithium will be 15% higher by 2035.

While planned US capacity additions mean domestic sourcing requirements may be met solely through US production over time, the decision to reflect a delivered duty paid assessment basis considers feedback that project delays could cause the US to rely on sourcing from other countries, particularly FTA (free trade agreement) members.

Following extensive market research, the new assessment specifications are as follows:

The first monthly average will update at the end of February, calculating the average of daily assessments published in February.

Platts spot price assessments consider market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications of value.

In the absence of observable spot market activity, Platts may consider other verifiable data reported.

Platts observes direct market activity as well as the effect of movements in related markets through spread differentials, for example.

Platts US lithium carbonate assessment reflects standard battery grade quality. Indications for other qualities are considered and normalized to Platts base standard specification, subject to prevailing market differentials.

The daily assessment will be timestamped to 4:30 pm US Eastern time.

A full description of the Platts assessments methodology can be found here: https://www.spglobal.com/commodityinsights/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf

The assessments are published on Platts Nonferrous Metals Alert, Platts Metals Daily, Platts Connect, Platts Market Center, and in the Platts price database under the symbols listed above.

The assessments are included on pages MTL8888 and PMA8888 alongside Platts full suite of battery metals assessments.

Please send all comments and questions to battery_metals@spglobal.com and pricegroup@spglobal.com.

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