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- First-Ever Daily Assessments: S&P Global introduces daily spot market prices for recycled lithium carbonate.
- Significant Growth Forecast: Recycled lithium demand to surge with a forecasted 44% CAGR by 2032.
- Enhanced Market Transparency: New assessments offer critical pricing transparency for the evolving recycled battery supply chain.
S&P Global Commodity Insights has launched the world’s first daily spot market recycled lithium carbonate price assessments. This pioneering move caters to the growing demand for pricing transparency in the recycled battery materials market.
Growing Demand: As global focus shifts towards sustainability, S&P Global anticipates a significant rise in the role of recycled lithium. China’s end-of-life battery availability is projected to reach 438 GWh by 2032, up from 16 GWh in 2023, with a compound annual growth rate (CAGR) of over 44%. Japan and South Korea are expected to see similar growth, with forecasts of 57 GWh by 2032, up from 2.3 GWh in 2023.
New Assessments: The new price assessments, including delivered duty-paid (DDP) in China and cost, insurance, and freight (CIF) to North Asia, are a response to market demand for more detailed pricing information. Keith Tan, Associate Regional Pricing Director, Asia Metals at S&P Global Commodity Insights, noted, “The world’s first price assessment for recycled lithium completes Platts pricing offerings for the full lithium chain.“
Sustainable Supply: With global electric vehicle (EV) sales increasing, pressure on the supply chain, especially for critical materials like lithium, will intensify. Recycled lithium provides a sustainable and cost-effective alternative. S&P Global Mobility estimates that by 2032, 900 GWh of end-of-life batteries will be available for recycling, enough to power 12 million EVs.
Leah Chen, Team Lead, Battery Metals, S&P Global Commodity Insights, added, “From waste to wattage – recycled lithium reduces environmental impact while championing closed-loop systems.“
Pricing Details: Platts recycled lithium carbonate DDP assessments reflect standard battery grade quality at 99.5% Li2CO3 and other specifications of a minimum of 20 metric tons, delivered within 14 days forward, priced in Yuan per metric ton. CIF assessments reflect similar quality for delivery 15-60 days forward, priced in US dollars per ton.
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This initiative underscores S&P Global Commodity Insights’ commitment to supporting the energy transition and providing essential pricing transparency in the evolving battery materials market.