PRICE ASSESSMENT
Platts Lithium Spodumene Index (SpodIX)
Key benchmark for tracking spodumene pricing in international trade.
What is SpodIX?
Platts Lithium Spodumene Index SpodIX (symbol: SPODI00 for CIF China basis) is a daily spot price assessment that reflects the tradeable market value of spodumene concentrate delivered into China. It is expressed in US dollars per metric tonne ($/mt) on a cost-insurance-freight (CIF) basis to Zhenjiang, Jiangsu port and other Chinese ports, the primary delivery points for seaborne spodumene imports into China.
SpodIX is based on a standard specification of spodumene concentrate with 6% lithium oxide (Li₂O) content. It serves as the primary pricing reference for the seaborne spodumene market and underpins a broad range of spot trades, long-term offtake contracts.
It provides real-time geopolitical risk quantification, connecting upstream spodumene markets with downstream lithium chemicals and battery-materials economics.
Our Lithium Spodumene Price Assessments Explained
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What makes SpodIX unique?
What makes SpodIX unique?
SpodIX’s value lies in its role as a transparent, consistently normalized benchmark for a rapidly evolving and often opaque upstream lithium market. By standardizing pricing to a 6% Li₂O specification and reflecting firm spot market activity—including transactions, bids, and offers—it provides a clear and comparable reference point across a wide range of deal structures. SpodIX captures real-time marginal spot value, making it a critical indicator of supply–demand balance in the seaborne spodumene trade. This allows market participants to benchmark negotiations, track cost pressures into the lithium chemicals chain, and assess shifts in market sentiment with greater clarity. As a result, SpodIX functions not just as a price datapoint, but as a core benchmark connecting upstream raw materials with downstream lithium pricing dynamics.
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Why does SpodIX exist?
Why does SpodIX exist?
SpodIX exists to bring transparency, consistency, and standardization to a historically opaque and rapidly evolving spodumene market. As global lithium demand has grown—driven by the expansion of the battery and electric vehicle supply chain—the volume and complexity of seaborne spodumene trade has increased significantly, creating a need for a reliable, independent price reference. The market has also shifted from largely bilateral, opaque transactions toward more structured pricing mechanisms, including index-linked contracts and shorter pricing cycles. In this environment, a robust spot benchmark is essential to reflect current market conditions and support price discovery. SpodIX addresses this need by providing a regular, independently assessed benchmark based on observable market activity, including transactions, bids, offers and tradable levels. It allows market participants to:
- Benchmark spot and term transactions
- Track upstream cost movements into lithium chemicals
- Assess supply–demand dynamics, including the impact of disruptions
- Structure pricing mechanisms in long-term offtake agreements
By delivering a transparent view of marginal spodumene value into China—the key global conversion hub—SpodIX plays a critical role in linking upstream raw material pricing with downstream lithium market economics in an increasingly mature and interconnected market.
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Who should use SpodIX?
Who should use SpodIX?
SpodIX is an essential reference for:
- Procurement managers negotiating offtake agreements with transparent, market-relevant pricing
- Miners understanding market value and strategic bidding timing
- Refiners managing raw material costs and processing margins
- Traders identifying hedging opportunities and arbitrage between physical and financial markets
- Battery manufacturers tracking upstream supply costs and demand fundamentals
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How does SpodIX support market transparency?
How does SpodIX support market transparency?
SpodIX supports transparency by:
- Publishing daily assessments on a standardized 6% Li₂O CIF China basis
- Reflecting real market structure through the publishing of observable spot data—including deals, bids, offers and tradable indications
- Providing clarity on global spodumene market trends through companion spodumene assessments
- Integrating downstream context through S&P Global Energy's broader lithium ecosystem.
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Platts Lithium Spodumene Assessments
Price Assessments Symbol SpodIX CIF China SPODI00 Lithium Spodumene 5.5% Li₂O CIF China BATLS00 Lithium Spodumene 6.0% Li₂O FOB Australia BATSP03 Lithium Spodumene 0.1% differential to Spodumene 6% FOB Australia BATSS00 Lithium Spodumene 5.5%-6.0% FOB Brazil BATST00 -
How do we assess Platts Lithium Spodumene?
How do we assess Platts Lithium Spodumene?
Platts publishes spodumene concentrate assessments based on market information, including, but not limited to, firm bids and offers, and trades reported to the price reporter up to the close of business at 4:30pm Singapore time. Other qualities are considered and may be normalized back to Platts base standard specifications, subject to prevailing market differentials.
Platts collects data from market participants across the full supply chain, allowing us to produce a balanced assessment of price by engaging with miners, traders and consumers. Platts coverage of the spodumene market is led by a global team across multiple offices: Singapore, Penang, Sao Paulo, Houston and London. To learn more about Platts methodology and battery metals assessments in detail, click here.
Why choose SpodIX?
SpodIX provides transparent, standardized pricing insights designed to support commercial decision-making across the lithium value chain.
Reflects Real Market Pricing Dynamics
Captures spot transactions and activities for spodumene delivered to China, the key processing hub globally
Transparent, Standardized Benchmarks
Delivers consistent 6% Li₂O pricing for CIF China
Connected Lithium Market Insight
Links upstream spodumene pricing with downstream lithium chemicals and battery economics
Tracks Market Trends
Provides participants with timely updates on spodumene price trends and CIF China spot activity
Methodology
S&P Global Energy methodologies bring consistency and robustness to our price assessments through principles and parameters that guide our market specialists at every stage of the process.
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