Fastmarkets to implement specification changes to align global suite of lithium prices

The changes will also align with methodology changes to Fastmarkets’ benchmark price assessments for battery-grade lithium carbonate and hydroxide, cif China, Japan & Korea. See the pricing notice here for more details.

The changes are as follows:

Battery-grade lithium hydroxide assessments

1. Fastmarkets will change the quality to “non-clumping and non-agglomerated coarse powder, widely qualified by buyers in the destination country for use in battery applications…” Fastmarkets would define coarse as particle size D50 between 200 μm and 700 μm. Currently, Fastmarkets assesses “Powder, accepted by buyer for use in battery applications…”

2. Fastmarkets will add 30-day payment terms to its ddp Europe and ddp US/Canada assessments and will clarify telegraphic transfer payment terms to its exw domestic China assessment. Other payment terms would be considered for normalization. Currently, Fastmarkets does not specify payment terms.

3. Fastmarkets will change the minimum quantity to 30 tonnes for its exw domestic China assessment. Other quantities may be considered for normalization. Currently, the minimum quantity is 5 tonnes. The minimum volume specifications for ddp Europe, ddp US & Canada will not change.

4. Fastmarkets will increase the timing specification to delivery within 60 days from 30 days for its ddp Europe and ddp US & Canada assessments, to better reflect intercontinental voyage times.

5. Fastmarkets will clarify shelf life in the specification. Fastmarkets will reflect material stored in big bags delivered within six months of its production or reprocessing date. Material stored in airtight bags or drums may be considered for normalization. Currently, Fastmarkets does not specify shelf life.

These changes will apply to:

MB-LI-0040 Lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min, battery grade, spot price range exw domestic China, yuan per tonne

MB-LI-0025 Lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min, battery grade, spot price ddp Europe, $ per kg

MB-LI-0045 Lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min, battery grade, spot price ddp US and Canada, $ per kg

Battery-grade lithium carbonate assessments

1, Fastmarkets will change the quality specification to “Powder, widely qualified by buyers in the destination country for use in battery applications…” Currently, Fastmarkets assesses “Powder, accepted by buyer for use in battery applications…”

2. Fastmarkets will add 30-day payment terms to its ddp Europe and ddp US & Canada assessments, and clarify telegraphic transfer payment terms to its exw domestic China assessment. Other payment terms would be considered for normalization. Currently, Fastmarkets does not specify payment terms.

3. Fastmarkets will change the minimum quantity to 30 tonnes for its exw domestic China assessment. Other quantities may be considered for normalization. Currently, the minimum quantity is 5 tonnes. The minimum volume specifications for ddp Europe, ddp US & Canada will not change.

4. Fastmarkets will increase the timing specification to delivery within 60 days from 30 days for its ddp Europe and ddp US & Canada assessments to better reflect intercontinental voyage times.

5. Fastmarkets will clarify shelf life in the specification. Fastmarkets will reflect material stored in big bags delivered within nine months of its production or reprocessing date. Material stored in airtight bags or drums may be considered for normalization. Currently, Fastmarkets does not specify shelf life.

These changes will apply to:

MB-LI-0036 Lithium carbonate 99.5% Li2CO3 min, battery grade, spot price range, exw domestic China, yuan per tonne

MB-LI-0023 Lithium carbonate 99.5% Li2CO3 min, battery grade, spot price ddp Europe, $ per kg

MB-LI-0044 Lithium carbonate 99.5% Li2CO3 min, battery grade, spot price ddp US and Canada, $ per kg

Reported pricing data for other qualities, such as non-qualified material, or for different payment terms and timing specifications, would be considered for normalization to Fastmarkets’ base standard specification.

Please send any questions or comments to pricing@fastmarkets.com and industrialminerals@fastmarkets.com. Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets’ pricing methodology and specification documents, go to the Fastmarkets methodology page.