May 2022

China’s Ganfeng Lithium to invest $299 million in battery materials project

Chinese lithium producer Ganfeng Lithium plans to construct a lithium battery materials project with an annual capacity of 50,000 tonnes of lithium carbonate equivalent (LCE), the company said on Thursday May 26.

Cobalt metal prices ease amid low liquidity

Cobalt metal prices have dropped to the $40-per-lb mark following persistently thin spot liquidity and hesitance among consumers over the sourcing of fresh raw materials.

Lithium miner Albemarle boosts earnings outlook for 2022 on more contract renegotiations

Global lithium and bromine producer Albemarle announced improved full-year guidance figures for 2022 on Monday May 23, after it renegotiated additional lithium supply contracts, linking them to a variable pricing mechanism.

Seaborne battery-grade lithium prices decline due to low Chinese prices, weak yuan

Key data from Fastmarkets' lithium pricing session in China on Tuesday May 24.

Bids hit $5,955/dmt in Pilbara Minerals’ fifth spodumene auction

Bids reached $5,955 per dry metric tonne (dmt) at Australian miner Pilbara Minerals’ fifth auction for spodumene concentrate, held via its Battery Material Exchange (BMX) platform on Tuesday May 24, sources told Fastmarkets.

Five key stories from May 23

Here are five Fastmarkets stories you might have missed on Monday May 23 that are worth another look.

Infrastructure investment needed in DRC to sustain cobalt output, minister says

Large-scale infrastructure investment was needed in the Democratic Republic of Congo (DRC) if the country were to continue to increase its cobalt output and exports, government representatives said at the Cobalt Institute conference in Zurich, Switzerland, last week.

International cobalt metal prices soften on lower offers, quiet spot market

An overview of the new energy materials markets and their price moves from the past week.

Plans for future battery passport discussed at Cobalt Conference

Plans for Global Battery Alliance’s Battery Passport, currently in development, were presented at the Cobalt Institute Conference in Zurich, Switzerland, but the plans left some attendees split on the future of certification standards.

IGO says Kwinana refinery produces first battery-grade lithium hydroxide

Australian miner IGO Ltd (IGO) said its Kwinana refinery in Western Australia has produced its first, consistent batch of battery-grade lithium hydroxide over several days.