Prices, Data, Advisory that enable the biggest decisions of the energy transition. Supply chains active: Lithium ion battery, Rare earths & permanent magnets
📉Benchmark's Global Weighted Average Lithium Ion Battery Cell Price falls 8.7% in August to dip below $100/kWh, representing the first time the Global Weighted Average Cell Price has fallen below this threshold since August 2021.
This decline can be attributed to the downward…
More than 300 new mines could need to be built over the next decade to meet the demand for electric vehicle and energy storage batteries, according to a Benchmark forecast.
🚨 $514 billion investment required across the global battery supply chain to meet expected demand in 2030.
Benchmark has analysed the investment required for
#criticalminerals
,
#batterymaterials
and
#batteries
.
Read the full insight ➡
Demand for…
Pres. Biden: "The federal government also owns an enormous fleet of vehicles, which we're going to replace with clean electric vehicles made right here in America, by American workers."
"We saw batteries become more than 50% of the cobalt market back in 2016. We saw batteries become more than 50% of the
#lithium
market in 2018. We're now projecting that by the end of next year batteries will be the number one leading market for
#graphite
as well."
North America and Europe want to develop local battery supply chains, but this chart highlights the scale of the challenge - especially in the processing of battery minerals.
FREE-TO-READ: The world will need more than twenty times the amount of
#lithium
than was mined last year to meet demand by mid-century, according to new data from Benchmark Mineral Intelligence, driven by growth in energy storage and electric vehicles.
CHINA'S BATTERY DOMINANCE: China controls at least half of the supply of most steps needed to make a lithium ion battery for electric vehicles, with the exception of mining raw materials.
Benchmark introduces Battery & EV metals prices to The Wall Street Journal
“Offering base prices for lithium, nickel, cobalt, graphite to
@WSJ
’s mainstream audience cont our commitment to mainstream education of lithium ion - EV supply chain”
⛏️ Saudi Arabia enters nickel mining, lithium could be next..
Saudi Arabia has struck a $3.5 Bn deal with Brazilian miner Vale for 10% of its
#copper
and
#nickel
base metals division, marking the oil power’s first entry into
#batterymetals
mining. ⬇️
Exclusive: Elon Musk and Tesla give Panasonic a 2TWh / 2,000 GWh lithium ion battery mandate.
#EV
🌎 Tesla lays down 2 TWh battery challenge to Panasonic | Benchmark
What’s going on with
#lithium
prices?
Read 5 reasons why the market is likely to stay tight in 2023:
📰Contracts will rise further
📈Spod still rising
⛏️New supply takes time
🇨🇳China lithium will be high-cost
🔋Demand outlook robust
This morning, U.S. Senator Joe Manchin opened Battery Gigafactories USA in Washington DC.
@Sen_JoeManchin
sat down with Benchmark CEO
@sdmoores
to discuss the permitting process for
#criticalmineral
projects in the US. ⛏
Senator Manchin said "the environmental community has to…
We are entering a rising price environment for battery raw materials...
✅ Lithium up
✅ Cobalt up
✅ Nickel up
✅ Graphite up
✅ Copper up
✅ Manganese up
Are we on the verge of battery price declines reversing? Join
#EVFest
LG Chem’s planned $3.2 billion battery cathode facility in Tennessee could more than double North American cathode production in five years, highlighting the impact of the Inflation Reduction Act
Investors see ‘gold rush on steroids’ for green battery metals:
“It’s not just China, it’s N America & Europe at same time” Benchmark’s
@sdmoores
in
@FT
The world's top three largest
#battery
companies are set to maintain their position this decade, as the global capacity of lithium ion battery gigafactories is set to surpass seven terawatt hours (TWh).
Two thirds of lithium-ion cell manufacturing in China. 175GWh/year commissioned capacity 2018, 1.15TW capacity announced for 2028 according to
@benchmarkmin
💰$51bn of investment is needed in the
#lithium
industry to support the
#battery
supply chain meeting 2030 demand.
Further insight into the investment in lithium and all stages of the supply chain is free to read on Benchmark Source ➡
Benchmark's…
This year battery anode demand for
#graphite
is set to overtake demand from the refractory and foundry industries for the first time, driven by sales of electric vehicles
For EVs you need batteries.
For batteries you need raw materials. Raw material / mining / extraction is the limiting factor to EVs.
“The electric car revolution is about to hit a giant pothole | Business | The Sunday Times”
The rise of the battery megafactories is relentless. Total capacity is projected to be over 1TWh by 2028 as per our tracker. This will need 840,000 tonnes of lithium LCEs. Capacity is different to demand however. Main takeaway: battery capacity will be there.
#EV
.
Current
#lithium
demand expected to reach 277,000 tonnes in 2018(CRU Analyst) & 840,000 tonnes by 2028
@benchmarkmin
45 lithium hungry megafactories in the works as @ Sept 2018
Requiring $Billions in investment for new & existing lithium projects to meet this insatiable demand
Lithium ion
#battery
demand is forecast to grow almost four-fold between 2023 and 2030. This growth will result in a corresponding a surge in demand for the constituent critical
#rawmaterials
.
Although a near-term surplus of lithium is forecast until 2029, there is a growing…
“The revolution is happening in China because the tyranny of the oil industry doesn’t have a grip like it does in the Western World.” Michael Austin, BYD, on the electric vehicle revolution.
#ElectricVehicles
#Benchmark2018
Anything with Will Ferrell and EVs in is worth tweeting...
@GM
’s “No Way Norway” advert showcasing its / LG Chem’s lithium ion batteries...
For major lolz, press play... 😂
The announcement of new restrictions on
#graphite
exports by the Chinese government has caused strong industry reaction across the world.
Security and quality of supply is under an even brighter spotlight than before - Benchmark data below illustrates why.
🌏 2023 global
#anode
…
TBD in Vancouver 🇨🇦 on Tuesday 31 Jan @ Benchmark World Tour!
Just how critical mineral hungry are gigafactories?
Tesla’s 140GWh expanded Nevada battery plant will need the following tonnes of
#lithium
#graphite
#cobalt
#nickel
#manganese
Join us:
Production of battery-grade
#lithium
metal could be a $2.7 billion-a-year market by 2030 as supply needs to increase almost three-fold to meet projected demand for more powerful solid-state batteries.
Benchmark’s
@sdmoores
features in
@OxfordEnergy
publication: “those who control the lithium ion supply chain will be the biggest influencers on the next generation auto and energy industries”
“We are now set to be a key contributor to the low cost, high quality lithium hydroxide market. And our tonnes are pouring out” Ken Brinsden,
@PilbaraMinerals
#EV
#Benchmark2018
World Tour Perth
Lithium ion battery capacity in the pipeline is now above 2TWh or 2,000GWh by 2028. That’s enough to make 35m EV if it all came online
For detailed data and analysis, sign up for our Battery Megafactories Assessment >>
📈 Benchmark's battery grade
#lithium
carbonate prices continue to tick up week-on-week as downstream demand shows signs of recovery, particularly amongst LFP
#cathode
manufacturers.
Benchmark is the world's leading Price Reporting Agency (PRA) and market intelligence provider…
The Benchmark Minerals team has briefed The White House on economic threats and opportunities of building a lithium ion battery supply chain in the US.
While most details cannot be disclosed, we can release the following slides from the briefing by our MD
@sdmoores
and
@VivasVK7
“Tesla will consume 21GWh of lithium ion batteries in 2018 - these are incredible from one single EV producer, and the biggest are yet to come” - Benchmark’s
@sdmoores
No sign of lithium prices falling -
#lithium
prices have followed an almost consistent upward trajectory for 24 straight months with Chinese battery grade lithium carbonate prices hitting record highs last week
🌎 Monumental shift in the way junior miners are value is coming -
“Simon Moores, the influential CEO of Benchmark, has said that carmakers may have to get involved in mining if they want to make electric vehicles at scale.”
Not just about batteries. US needs to focus on the entire EV ecosystem:
- Mining of
#lithium
#cobalt
#graphite
#nickel
- Chemical refining
- Cathode / Anode making
- Lithium ion cell production
- EV Pack Production
... says Benchmark Minerals’
@amiller_bmi
CATL has launched a faster charging LFP
#battery
that it says can power an
#ev
400 km (248 miles) after ten minutes of charging, in a development that could further boost adoption of the cheaper battery chemistry.
Read more ⬇️
Benchmark Minerals’
@sdmoores
on Al Jazeera
@AJEnglish
@AJENews
talking lithium.
“Take away point is: lithium isn’t geologically rare but the challenge is getting it into the
#EV
supply chain in economic quantities”
1/5
The US Gigafactories are coming - a slew of recent announcements could result in $15 billion of investment into US battery factories, as the Inflation Reduction Act acclerates the EV supply chain.
🔔 Benchmark’s battery grade
#lithium
carbonate prices in China rise by 19% week-on-week as
#cathode
manufacturers increase purchasing activity.
Following record high prices for lithium in 2022, prices fell notably throughout Q1 of 2023.
But as optimism surrounding downstream…
FREE TO READ: More than 300 new mines could need to be built over the next decade to meet the demand for electric vehicle and energy storage batteries, according to a Benchmark forecast.
China's CATL to boost recycling capacity with $3.5 billion investment in materials park in Guangdong - with 500,000 tonnes of planned lithium ion
#battery
recycling capacity, it's more than the current global capacity outside of China.
⚡ Governor Arnold
@Schwarzenegger
opens
#BenchmarkWeek
2023 ⚡
It was a privilege for Benchmark to open our flagship conference in Los Angeles by recognising Governor Arnold Schwarzenegger with Benchmark’s inaugural Lifetime Achievement Award, for his visionary leadership in…
Battery Megafactories
2015: 3
2020: 158
“These huge potential volumes of scrap cells & offcuts from these battery megafactories is the first major problem to solve for battery recyclers”
More on EV battery recycling & JB Straubel’s
@RedwoodMat
“Those that control the lithium ion battery to electric vehicle supply chain will hold the balance of industrial power for the 21st Century auto and energy industries” - Benchmark’s MD,
@sdmoores
to the US Senate
#lithium
#cobalt
#nickel
#graphite
#EV
Lithium Prices down, demand up. Our index is a weighting of our 6 Lithium Carbonate, 4 Lithium Hydroxide grades. Many data points and grades go into these buckets... but as a trend:
YTD:
Both: ⬇️17.3%
Carbonate: ⬇️18.6%
Hydroxide: ⬇️14.4%
Lithium will still grow >15% in 2019
Prices for
#lithium
iron phosphate (LFP)
#cathode
material in China rose by 11% over the past month due to an improvement in demand for
#electricvehicles
in the country as well as
#energystorage
systems.
Read more on Benchmark Source ⬇
🏭 Sweden’s Northvolt has picked Quebec for its first battery
#gigafactory
in North America, securing a site close to local supplies of
#lithium
that will use hydropower to lower the carbon footprint of
#battery
production.
Read more on Benchmark Source ⬇️
Benchmark Infographic - Who dominates the
#graphite
to
#EV
battery supply chain?
Below, Benchmark analysis provides a visual breakdown of natural and synthetic graphite supply chains.
🚨 Graphite + Anodes - part of
#BenchmarkWeek
2023 - is the world's leading graphite industry…
We are now at 99 lithium ion battery megafactories in the pipeline with the overwhelming amount using NCM chemistries. In 2028 we expect 35% of this global capacity to be 811 from today’s <3%.
Subscribe or learn more here
World will need $12 billion to meet the demand for graphite by 2030
@amiller_bmi
says - a fraction of automakers spend on R&D each year. "The money is there... it's about channeling that money and making sure it reaches the supply chain with the speed required."
“A record year for lithium amid this electric vehicle boom…”
@CNBC
’s
@PippaStevens13
on the state of play for our industry.
Benchmark lithium prices cited.
Demand for
#lithium
in China is so strong that the country's ceramic producers are starting to process the battery material, as prices hit new record highs
Lithium prices are soaring thanks to EVs…
@CNBCnow
@lorakolodny
“If automakers don't get a grip on their raw materials, "their battery cell cost will likely rise in the coming years, bucking two decades worth of falling battery prices,"
On Tuesday this week, Benchmark CEO
@sdmoores
gave evidence in the UK House of Commons Business and Trade Select Committee hearing on Batteries and Electric Vehicle Manufacturing in the UK. 🔋
Simon opened the discussion with his view of the UK's current position in the global…
🚫 China’s decision to restrict some exports of
#graphite
products could hinder production of battery
#anodes
in South Korea and elsewhere, making the
#electricvehicle
supply chain even more reliant on China.
The Ministry of Commerce and the General Administration of Customers…
Biden Invokes the Defense Production Act to Fix the Lithium Shortage | WIRED
Ft Benchmark’s
@amiller_bmi
“…by 2040 the world will require 17 times more lithium than it currently produces to meet global climate goals.”