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This will affect the spot prices for battery-grade lithium carbonate and lithium hydroxide, both on a cif China, Japan & Korea basis.
Following an initial consultation, Fastmarkets received feedback from market participants that more frequent assessments of spot market prices in the region would help to enhance transparency in the lithium value chain.
Though some market participants expressed concerns about the current levels of liquidity in the seaborne Asia lithium market, most also recognized that the additional visibility provided by daily pricing could be a catalyst for more spot trade, with the recent evolution in cobalt pricing frequency – another key battery metal – cited as a positive example.
Therefore, Fastmarkets is proposing to increase the pricing frequency of its battery-grade lithium carbonate and hydroxide spot assessments in the seaborne Asian market in order to reflect spot activity in a more timely manner.
In addition, Fastmarkets has identified a necessary amendment to the names and specifications for its lithium hydroxide prices regarding the expressions of minimum content threshold for LiOH. This does not constitute a material change because Fastmarkets believes that the industry understands that the names had been incorrectly spelled out in the methodology.
The consultation period for both these proposed amendments starts from Tuesday July 27 and will end in three months’ time on October 26. Subject to positive feedback during the consultation, the changes will take effect on November 1.
All historical data relating to the assessment prior to the amendment will remain available in the pricing section of the Fastmarkets website.
Regarding the clarification in the names of the lithium hydroxide prices, the minimum purity requirement of LiOH is wrongly stated as “lithium hydroxide monohydrate 56.5% LiOH.H2O min,” but should be “lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min.”
Similarly, in the detailed specifications of those prices, the expression of minimum purity requirement of LiOH should be stated as “LiOH 56.5% min” instead of “LiOH.H2O 56.5% min.”
Following the amendment, Fastmarkets confirms the names of all its lithium hydroxide prices read as follows with changes in italics: Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, battery grade, spot price cif China, Japan & Korea, $/kg Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, battery grade, spot price range exw domestic China, yuan/tonne Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, battery grade, spot price ddp Europe and US, $/kg Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, battery grade, contract price ddp Europe and US, $/kg Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, battery grade, contract price cif China, Japan & Korea, $/kg
Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, technical and industrial grade, spot price range exw domestic China, yuan/tonne Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, technical and industrial grades, spot price cif China, Japan & Korea, $/kg Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, technical and industrial grades, spot price ddp Europe and US, $/kg Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, technical and industrial grades, contract price cif China, Japan & Korea, $/ kg Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, technical and industrial grades, contract price ddp Europe and US, $/kg
With the proposed amendment of price names and expression of LiOH purity, as well as increased pricing frequency, the base specifications for the two seaborne Asia lithium prices will be as follows, with the proposed changes marked in italics.
MB-LI-0029 Lithium carbonate 99.5% Li2CO3 min, battery grade, spot prices cif China, Japan & Korea, $/kg
Quality: Powder, accepted by buyer for use in battery applications and with the chemical composition: Li2CO3 99.5% min (min. 99.2% Li2CO3 accepted if it can be normalized to 99.5%); Na 0.060% max; Ca 0.016% max; Mg 0.008% max; magnetic impurities 300ppb max Quantity: Min 5 tonnes Location: cif main Chinese Japanese & South Korean ports (other ports normalized) Timing: 60 days Unit: USD/kg Publication: Daily, Monday-Friday, 4pm London Note: Where pricing day falls on a public holiday in China, the price will be rolled over from previous pricing session
MB-LI-0033 Lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min, battery grade, spot price cif China, Japan & Korea, $/kg
Quantity: Min 5 tonnes Quality: Powder, accepted by buyer for use in battery applications and with the chemical composition LiOH 56.5% min; CO2 <0.35%; Ca 0.020% max; SO4 0.015% max; Cl- 0.005% max Quantity: Min 5 tonnes Location: cif main Chinese Japanese & South Korean ports (other ports normalized) Timing: 60 days Unit: USD/kg Publication: Daily, Monday-Friday, 4pm London Note: Where pricing day falls on a public holiday in China, the price will be rolled over from previous pricing session
To provide feedback on the proposals related to Fastmarkets’ lithium price assessments, or if you would like to provide price information by becoming a data submitter to these prices, please contact Dalila Ouerghi and Susan Zou by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Dalila Ouerghi/Susan Zou re: lithium price assessments.’
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.