Mercedes Benz EQC electric SUV. Image from Mercedes Benz.
In a new note, Benchmark Mineral Intelligence, a price reporting agency and battery supply chain researcher based in London, says battery producers have begun to increase lithium ion cell prices as anode, cathode and other raw material input prices continue to rise.
Nickel sulphate prices are up 34% and cobalt hydroxide nearly 82% over the past year but the biggest culprit is lithium with the price of Benchmark’s lithium carbonate for use in batteries (ex-works China) surging by 313% since this time last year, reaching RMB185,000 per tonne ($28,675 a tonne) in mid-October.
