Brings Pricing Transparency to Important
Lithium Supply Growth Market
- Complements Existing Suite of
Asia, Americas & Europe
Battery Metals Prices & US Black Mass Assessments -
NEW
YORK and LONDON and
SINGAPORE, Sept. 3,
2024 /PRNewswire/ -- Platts, part of S&P Global
Commodity Insights, the leading independent provider of
information, data, analysis, benchmark prices and workflow
solutions for the commodities, energy, battery metals and energy
transition markets, has launched the
first-ever daily, physical spot market price assessments for
South America lithium carbonate,
effective September 2, 2024. This
builds on Platts' pre-existing suite of lithium and battery metals
and raw materials pricing information across the Americas,
Asia and Europe.
The launch follows months of engagement with the marketplace and
responds to growing demand from market participants for increased
transparency, clarity and insights regarding pricing for lithium
products from South America, as
the region grows in its role as a global supplier. Lithium
carbonate is a key building block of electric batteries.
"We're excited to further our century-plus history of bringing
pricing transparency to markets, extending our reach in battery
metals to the important South America Lithium Triangle – a region
poised to play a pivotal role in global lithium production,"
said Anna Crowley, Global Head of
Metals Pricing, S&P Global Commodity Insights. "Our aim is
to provide the essential price benchmarks and insights needed by
market participants throughout the critical elements and battery
value chain."
The new Platts Lithium Triangle (LiT) price assessments, on a
free-on-board (FOB) shipping basis, will reflect a minimum quality
of 99.0% Li2CO3, a minimum of five metric tons of power packed in
bags, loading 14 to 60 days forward and expressed in US dollars per
metric ton.
The Lithium Triangle, encompassing parts of Argentina, Bolivia, and Chile, is pivotal for lithium production,
boasting significant reserves of lithium-rich brine deposits,
making it one of the most important and promising regions for
lithium production globally.
S&P Global Commodity Insights data shows that in 2023,
the Lithium Triangle produced 268,716 metric tons of Lithium
Carbonate Equivalent (LCE) equivalent to 27% of global supply,
ranking second globally. By 2028, supply is projected to surpass
631,000 metric tons, according to Alice Yu, Principal Analyst, Metals & Mining
Research, S&P Global Commodity Insights. As a
block, Argentina, Bolivia, and Chile are expected be the largest contributor
to global lithium supply growth over the next 5 years. Their
combined production is the anticipated to remain the second largest
in the world through to 2028.
"Not only is this the first daily price assessment for the
emerging lithium production hub known as the Lithium Triangle, but
the Platts LiT FOB assessment's relevance and usefulness goes well
beyond South America and will
likely have global implications," said Adriana Carvalho, Senior Managing Editor, Latin
America Metals, S&P Global Commodity Insights.
The new South America lithium
price assessment will follow the Platts Market-on-Close price
assessment methodology, based on the principle that price is a
function of time. All market information reported for the Platts
price assessment process will be published in real-time for
transparent visibility to the marketplace and will include firm
bids, offers, transactions, indications of value, as well as any
other data deemed relevant to the assessment process (including
movements in related markets through spread differentials).
The new daily end-of-trading-day price assessment follows a
Sao Paulo, Brazil publishing
schedule and will reflect a market close of 4:00 pm. This new daily price assessment, along
with an associated monthly average, will be published through
S&P Global Commodity Insights publications and services,
including: Platts Nonferrous Metals Alert, Platts Metals Daily,
Battery Metals Market Report, and the Platts price assessments
database.
For more details, visit Platts Assessments Methodology
Guide.
Media Contacts:
Americas: Kathleen Tanzy + 1
917-331-4607, kathleen.tanzy@spglobal.com
Jeff Marn +1
202-560-0776, jeff.marn@spglobal.com
EMEA: Paul Sandell + 44 (0)7816 180039, paul.sandell@spglobal.com
Asia: Melissa Tan
+ 65-6597-6241, melissa.tan@spglobal.com
About S&P Global Commodity Insights
At S&P Global Commodity Insights, our complete view of global
energy and commodity markets enables our customers to make
decisions with conviction and create long-term, sustainable
value.
We're a trusted connector that brings together thought leaders,
market participants, governments, and regulators and we create
solutions that lead to progress. Vital to navigating commodity
markets, our coverage includes oil and gas, power, chemicals,
metals, agriculture, shipping and energy transition.
Platts® products and services, including leading
benchmark price assessments in the physical commodity markets, are
offered through S&P Global Commodity Insights. S&P Global
Commodity Insights maintains clear structural and operational
separation between its price assessment activities and the other
activities carried out by S&P Global Commodity Insights and the
other business divisions of S&P Global.
S&P Global Commodity Insights is a division of S&P
Global (NYSE: SPGI). S&P Global is the world's foremost
provider of credit ratings, benchmarks, analytics and workflow
solutions in the global capital, commodity and automotive markets.
With every one of our offerings, we help many of the world's
leading organizations navigate the economic landscape so they can
plan for tomorrow, today. For more information visit
https://www.spglobal.com/commodityinsights.
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SOURCE S&P Global Commodity Insights