Price Assessment

Battery Metals

  • Evolution of battery metals assessments
  • What are the Battery Metals Assessments?
  • How are the battery metals prices assessed?
  • Electric Vehicle Metals Usage Data

Evolution of battery metals assessments

Environmental, sustainable and governmental (ESG) standards are continuing to rise as governments look to transition to less emission-intensive and greener economies. As a result of the broader energy transition that is afoot, the growth of electric vehicles has increased the demand for metals needed to produce the batteries that power EVs.

Growth in spot market liquidity and industry demand for more frequent battery metals price assessments led S&P Global Commodity Insights to increase the frequency of assessment for its suite of battery metals assessments to daily, effective May. 3, 2021.

How are the battery metals prices assessed?

S&P Global Commodity Insights lithium carbonate and hydroxide prices are assessed on a CIF North Asia and DDP China basis, reflecting physical spot market prices for battery-grade material. Other qualities are considered, and may be normalized back to S&P Global Commodity Insights base standard specifications.

The lithium spodumene price is assessed on an FOB Australia basis, reflecting physical spot market prices with a min 6% lithium oxide content exported from Western Australian ports.

The cobalt sulfate prices are assessed on a CIF North Asia and DDP basis, reflecting physical spot market prices. In the absence of information for the international market, the CIF North Asia Assessment is assessed as an import parity calculation from the domestic Cobalt sulfate DDP China price.

The cobalt hydroxide prices are assessed on a CIF China basis, reflecting physical spot market prices for any-origin cobalt hydroxide with 30% cobalt content, 2-6% manganese and 10% moisture. Other quantities may be normalized back to S&P Global Commodity Insights base standards.

The nickel sulfate prices are assessed on a DDP China basis, reflecting physical spot market prices for all-origin type 2 nickel sulfate with 22% nickel content and magnetic materials max 100 ppb. Other grades may be normalized back to S&P Global Commodity Insights base standards.

S&P Global Commodity Insights assessments are based on market information, including, but not limited to, firm bids and offers, and trades reported to the editor up to the close of business each day. S&P Global Commodity Insights assessments reflect responsibly sourced material, which sellers should be able to demonstrate in line with standard industry practice, upon buyers' request.

Electric Vehicle Metals Usage Data

The Electric Vehicle Metals Usage Data reflects metals used in the production of a typical electric vehicle (EV). S&P Global Commodity Insights defines Electric Vehicle Metals Usage Data as the metals components used in a typical EV and the corresponding production weights of those components in kilos.

The Electric Vehicle Metals Usage Data is published as a bi-annual data sheet comprising EV metals components and production weights through Platts Dimensions Pro.

S&P Global Commodity Insights engages with a range of market participants and industry bodies ahead of publication. S&P Global Commodity Insights may also reference research reports and other relevant resources.

The latest Electric Vehicle Metals Usage Data is available here in Platts Dimensions Pro >

S&P Global Commodity Insights will update its Electric Vehicle Metals Usage Data on a bi-annual basis, in June and December. S&P Global Commodity Insights will monitor key components of a typical EV, including changing and evolving battery chemistries, and will add new components and production weights accordingly.

S&P Global Commodity Insights battery metals service is dedicated to producing world-class pricing, insight, and analysis on battery metals and electric vehicle markets.

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