02 Apr 2024 | 08:54 UTC

Platts changes European black mass quality specification, lithium component formula

Platts, part of S&P Global Commodity Insights, has changed the quality specification of its Nickel-Cobalt, or Ni-Co, black mass ex-works Europe assessments by lowering the minimum content of lithium, cobalt and nickel while adding a maximum accepted level for impurities, effective April 2.

Platts has also updated the formula used for calculating the lithium component value in the Ni-Co black mass EXW Europe calculated price by moving the component basis to the Platts Lithium Carbonate CIF Europe assessment (LCCIF00) from the Platts Lithium Carbonate CIF North Asia assessment (BATLC04).

The revisions better reflect market feedback on the bulk of the material currently traded in Europe.

Platts initially proposed the specification changes Feb. 15 via a subscriber note.

Following market feedback, Platts revised the nickel content minimum to 12%, up from the original proposal of 10%, and this was notified via a subscriber note published March 5.

The revised specifications are as follows:

Assessments Symbols Quality specifications
Ni-Co black mass EXW Europe lithium payables

Daily: NBMEA00

Monthly average: NBMEA03

 Min Li 3%, Co 5%, Ni 12%; Less than 5% combined Cu, Al, Fe
Ni-Co black mass EXW Europe cobalt payables

Daily: NBMEB00

Monthly average: NBMEB03

 Min Li 3%, Co 5%, Ni 12%; Less than 5% combined Cu, Al, Fe
Ni-Co black mass EXW Europe nickel payables

Daily: NBMEC00

Monthly average: NBMEC03

 Min Li 3%, Co 5%, Ni 12%; Less than 5% combined Cu, Al, Fe
Ni-Co black mass EXW Europe calculated price $/mt

Daily: NBMED00

Monthly average: NBMED03

 Min Li 3%, Co 5%, Ni 12%; Less than 5% combined Cu, Al, Fe

The revised formula for the lithium component of the Ni-Co black mass calculated price is as follows:

Calculated lithium component = Ni-Co black mass EXW Europe lithium payable (NBMEA00) x Platts Lithium Carbonate CIF Europe (LCCIF00) / lithium metal conversion factor (0.19) x lithium base content (0.03)

Platts black mass assessments are published on Platts Nonferrous Metals Alert pages, 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 the Platts full suite of battery metals assessments.

Please submit any comments or questions to battery_metals@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make those not marked as confidential available upon request.