Battery materials
Overview
Growth in global electric vehicles (EVs) and plug-in hybrid (PHEV) production has put a spotlight on battery materials. While lithium-ion batteries dominate the current market, this is a rapidly emerging technology space where improved range or charge times can quicky shift industry sentiment and investment in a different direction.
Argus is at the forefront of battery materials pricing and reporting with coverage of common battery metals (lithium, cobalt, nickel, graphite), industry-grade cathodes and black mass. As experts in specialty metals and rare earths, we future-proof our price assessment portfolio with a range of electronic metals crucial to the manufacture of technology deployed in modern vehicles.
Our Argus Battery Materials and Argus Non-Ferrous Markets services help businesses to understand these complicated supply chains, including price volatility and sustainability challenges around future demand.
Minor metals: Battery metals
As automakers continue to invest in electric vehicle production and power companies explore infrastructure that includes energy storage programmes, the metals contained in lithium-ion batteries supporting these products has attracted interest from investors, institutions and manufacturers alike.
Argus is well positioned to provide insight into price volatility, global supply and responsible material sourcing for all manufacturers and investors in this sector.
Highlights of Argus battery materials coverage
- Understand the context of significant price movements and industry trends with a weekly PDF that highlights the most important market news across lithium, cobalt, graphite, nickel and other common battery materials
- Mitigate risk and perform reliable forward planning with 1-year and 10-year forecasts across different battery metals, chemistries and industries
- Gain a competitive edge with industry-specific tools, such as the Black Mass Calculator that estimates the intrinsic value of different battery chemistries (including cathodes like NCM111, NCM523, LFP, NCA)
- Invest with confidence knowing Argus is IOSCO-compliant with over 50 years of experience delivering trusted price data and market intelligence
Latest battery materials news
Browse the latest market moving news on the global battery materials industry.
Italian Bess necessary to reduce gas burn: Industry
Italian Bess necessary to reduce gas burn: Industry
London, 11 March (Argus) — As renewables become more prevalent in the Italian power mix, market participants support the buildout of battery energy storage systems (Bess) to replace gas-fired generation as a source of flexibility, Argus heard on the sidelines of the KEY25 Energy Transition Expo in Rimini last week. Italy has some of the highest electricity prices in Europe owing to the country's heavy reliance on gas-fired generation, with the single national price (Pun) averaging €107.75/MWh over 2024. While there has been a decrease in gas burn and an increase in renewables output since 2022, gas-fired generation still accounted for slightly over 40pc of the power mix on average last year, compared with combined solar and wind generation at 21pc. The Italian government has set ambitious renewable targets under the country's national energy and climate plan, aiming to reach 131.3GW — including solar, wind and hydro capacity — by 2030 from 77GW in January under Italy's climate and energy plan. There is general agreement among market participants that reducing gas burn in favour of renewable energy sources will lower electricity prices, but some gas-fired capacity may never be removed from the Italian power mix without having another technology that can provide the same flexibility at scale. Residual demand in Italy is falling, but thermal output remains essential to cover demand peaks during critical summer and winter periods, according to Italian transmission system operator (TSO) Terna's latest system adequacy report . But as renewables cover an increasing share of electricity demand — estimated to reach 335TWh in 2028 — thermal plants will become less economically viable and are likely to be decommissioned unless they are kept operating through ancillary services. "The more renewable generation we have, the less gas-fired plants will have to cover residual electricity demand. Only the most efficient — hence the cheapest — gas-fired plants will be accepted, and the others will be decommissioned," a power trader told Argus . But turning on a gas-fired plant from cold and with a stop-start operation would lead to exaggerated costs and higher maintenance prices. "Morning and evening prices could be used to cover the maintenance of the plant, and the average price would risk being the same but with very marked price differences," the head of power origination of an Italian utility told Argus . "This would lead to investing a lot in batteries that could exploit the spreads and lower them a bit," he added. Market participants attending the conference widely agreed that growing renewable capacity means there is a need to focus on the development of Bess, especially those with 6-8 hours duration to enable time shifting. Solar photovoltaic capacity is expected to grow by 6-8 GW/yr to 2030, according to industry body Italia Solare president Paolo Viscontini. The Italian energy ministry has recently accepted Terna's view that the country will need an additional 10GWh of Bess capacity by 2028 to avoid the risk of the grid becoming congested in periods of overgeneration. As of January 2025, Italy had 13.3GWh of Bess capacity — mainly in the south of the country and on the islands — and is expected to reach 50GWh by 2030. And Terna last week said it will hold its first auction for large-scale Bess with 2028 delivery on 30 September, for which it has already approved 9GWh, as reported by the operator's grid development manager Francesco Del Pizzo. Connection requests for Bess projects more than tripled in 2024 to 253GW worth of capacity, mainly because of a significant reduction in capital expenditure for the assets, which has dropped by around 40pc since 2022 and is expected to stabilise at a competitive price in the next few years. By Ilenia Reale Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Rio Tinto completes Arcadium Lithium takeover
Rio Tinto completes Arcadium Lithium takeover
London, 6 March (Argus) — Global mining giant Rio Tinto has today completed its $6.7bn buyout of global chemicals producer Arcadium Lithium, soon to be renamed Rio Tinto Lithium. Rio confirmed that it would buy Arcadium in October 2024 , the seventh-largest lithium producer in the world by market capitalisation as of January 2024. Rio Tinto aims to bring its lithium assets to about 200,000 t/yr of lithium carbonate equivalent by 2028. In 2024, Arcadium sold 42,300t of lithium salts, including lithium hydroxide and lithium carbonate, along with 140,000 dry metric tonnes of spodumene concentrate. The company posted net income of $131.7mn in 2024, down from $330.1mn in 2023. The firm had to suspend some operations at its Mount Cattlin mine in Western Australia while also delaying its expansions . Arcadium will place its Mount Cattlin mine into care and maintenance by the middle of the year, after suspending it in September on low prices, potentially placing upward pressure on prices. The top three lithium mining companies accounted for around 54pc of global production in 2023, a higher portion than the 15pc for nickel and 47pc for cobalt, according to the IEA. Market participants told Argus earlier this year that lithium prices are unlikely to recover until the second half of 2026 on high inventories and a glut of supply set to come on line (see graph) . "Arcadium and the predecessor companies failed to advance a world class suite of assets on a timely basis," Global Lithium Podcast host Joe Lowry told Argus . "Hopefully that will change being part of a large company with a significant balance sheet." By Chris Welch Lithium carbonate equivalent (LCE) production t Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Japan’s domestic EV sales drop further in February
Japan’s domestic EV sales drop further in February
Tokyo, 6 March (Argus) — Japanese domestic sales of passenger electric vehicle (EVs) fell on the year for a 16th consecutive month in February, mostly because of lower demand for domestic brand EVs. Sales totalled 4,390 units in February, fell by 20pc from a year earlier, according to data from three industry groups — the Automobile Dealers Association, the Japan Light Motor Vehicle and Motorcycle Association and the Japan Automobile Importers Association (JAIA). Sales were also down by 3.8pc on the month. EVs accounted for 1.2pc of the country's total passenger car sales in February, down by 0.7 percentage points from a year earlier. The fall in EV sales is mostly attributed to weaker demand for domestic brand EVs. Sales of Nissan's Sakura, the country's top selling EV model, fell by 33pc on the year to 1,760 units. Demand for foreign brand EVs remained firm in February, according to JAIA's representative who spoke to Argus . Sales of foreign brand passenger EVs rose to 1,829 units, up by 11pc from a year earlier, marking the fourth consecutive month of year-on-year growth. Imported EVs accounted for around 42pc of Japan's total domestic EV sales, up by 12 percentage points from a year earlier. Chinese manufacturer BYD resumed normal shipments in Japan after a partial delivery suspension in January , according to JAIA. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Canada, Ontario to back Frontier Lithium project
Canada, Ontario to back Frontier Lithium project
Houston, 5 March (Argus) — Canadian pre-production mining company Frontier Lithium said the governments of Ontario and Canadian intend to financially support the company's planned lithium conversion facility in Thunder Bay, Ontario. The combined government contributions would cover a "significant" portion of the expected capital expenditures needed to build the facility, Frontier said Tuesday. The company did not disclose details on the government investments and has not said how much the project is expected to cost. The plant would convert lithium from Frontier's PAK mine project to about 20,000 metric tonnes (t)/yr of lithium salts. Mining and processing lithium domestically will help counter tariffs imposed this week on Canadian exports by US president Donald Trump, said Vic Fedeli, Canada minister of economic development, job creation and trade. "The frontline of our battle against Donald Trump's tariffs starts in northern Ontario with our abundant supply of critical minerals," Fedeli said. "Our government is working with Frontier Lithium and the federal government to protect Ontario workers and jobs by mining and refining our critical minerals right here in Ontario." By Carol Luk Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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