S&P Global Introduces Daily Price Assessments for Recycled Lithium Carbonate

S&P Global Commodity Insights has launched the world’s first daily spot market price assessments for recycled lithium carbonate, marking a significant step toward enhanced pricing transparency in the recycled battery materials market. This initiative addresses the growing demand for detailed and reliable pricing information in an industry increasingly focused on sustainability.

The demand for recycled lithium is expected to grow substantially, with S&P Global forecasting a compound annual growth rate (CAGR) of 44% by 2032. China’s availability of end-of-life batteries is projected to rise from 16 GWh in 2023 to 438 GWh by 2032, while Japan and South Korea are expected to see increases from 2.3 GWh to 57 GWh within the same period.

The new price assessments include delivered duty-paid (DDP) in China and cost, insurance, and freight (CIF) to North Asia. Keith Tan, Associate Regional Pricing Director for Asia Metals at S&P Global Commodity Insights, emphasized that these assessments complete Platts’ pricing offerings for the entire lithium chain. This move comes as the global focus shifts towards more sustainable practices, and the role of recycled lithium becomes increasingly vital.

The electric vehicle (EV) market’s rapid expansion is driving pressure on supply chains for critical materials like lithium. Recycled lithium offers a sustainable and cost-effective alternative. By 2032, S&P Global Mobility estimates that 900 GWh of end-of-life batteries will be available for recycling, enough to power 12 million EVs. Leah Chen, Team Lead for Battery Metals at S&P Global Commodity Insights, highlighted the environmental benefits, noting that recycled lithium supports closed-loop systems and reduces the overall environmental impact.

Platts’ recycled lithium carbonate DDP assessments reflect standard battery-grade quality at 99.5% Li2CO3 and other specifications for a minimum of 20 metric tons, delivered within 14 days, priced in Yuan per metric ton. CIF assessments cover similar quality for delivery 15-60 days forward, priced in US dollars per ton.