Platts to publish SpodIX, new spodumene concentrate CIF China assessment reflecting 6.0% lithium oxide pricing basis

Platts, part of S&P Global Commodity Insights, will publish SpodIX, a new daily CIF China spodumene concentrate spot price assessment reflecting a 6.0% lithium oxide pricing basis , effective Sept. 1.

The assessment follows market feedback confirming a practice of negotiating and concluding spot transactions for spodumene concentrate with lithium oxide content between 5.0% and 6.0% on a 6.0% pricing basis.

SpodIX CIF China assessment

The new SpodIX CIF China assessment will reflect the typical pricing basis applied to Chinese imports and capture larger volumes shipped in dry bulk vessels.

It will complement Platts existing 5.5% lithium spodumene CIF China assessment, for which the volume specification more closely reflects containerized shipments.

SpodIX will have the following basis specifications:

The new assessment will consider information reported to Platts for spodumene concentrate with lithium oxide content of 5.0%-6.0%. The datapoints will be normalized to a 6.0% pricing basis assuming a linear adjustment for the value of each 0.1% of lithium oxide within the range, in line with market practice.

Information reported on bulk cargoes with volumes above 10,000 mt may be normalized to the quantity specification.

Following market feedback, Platts will additionally specify the typical brands reflected in the assessment. Market feedback and Platts observation have identified the following brands as mainstream in the seaborne spot market:

• Kathleen Valley
• Mount Holland
• North American Lithium
• Pilgangoora
• Wodgina

Platts will consider these brands in its assessment process and may normalize information reported on other brands to the basis specifications.

The new SpodIX assessment will reflect a time stamp of 4:30 pm in Singapore.

Quality differential

Separately, based on market feedback, Platts will widen the range of its existing 0.1% lithium differential on an FOB Australia basis. Effective Sept. 1, the differential will apply to concentrates with lithium oxide content of 5.0%-6.0%, revised from the current 5.5%-6.0%.

The quality specification will be updated as follows:

All other specifications will remain unchanged.

Platts spot price assessments consider market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications, as well as any other data deemed relevant to the assessment process. Relevant information may be normalized for assessment purposes.

The new assessment and its monthly average will be published on Platts Metals Daily, Battery Metals Market Report, in the Platts price database and on Platts Nonferrous Metals Alert pages MTL/PMA8888 and 8880, alongside Platts' full suite of battery materials assessments.

The new launch and updated quality differential were first proposed in a subscriber note published Aug. 8, available here.

Please send any feedback, comments and questions to battery_metals@spglobal.com and pricegroup@spglobal.com.

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