S&P Global Commodity Insights Launches Global Suite of Platts CAM Daily Calculated Cathode Active Material Assessments

Core Insights - S&P Global Commodity Insights has launched a suite of daily calculated price assessments for Cathode Active Materials (CAM) in China, Europe, and North America, effective March 24, 2025, to meet the information needs of the rapidly growing battery supply chain industry [1][4]. Group 1: Market Overview - The new offering focuses on CAM chemistries for lithium-ion batteries, specifically LFP (lithium iron phosphate), NMC622, and NMC811, which are projected to hold significant market shares in the coming years. LFP currently accounts for approximately 43% of global demand, while NMC622 and NMC811 together hold an estimated 18% [2]. - The demand for batteries is expected to surge due to the increasing adoption of electric vehicles and Battery Energy Storage Systems (BESS), with global BESS annual capacity additions growing by 49% year-on-year in 2024 and forecasted to grow another 29% in 2025 [5]. Group 2: Product Details - CAMs are essential components in lithium-ion batteries, influencing performance metrics such as energy density, cycle life, and safety. They are synthesized materials typically composed of metal oxides used in the production of electrodes [3]. - The new calculated CAM assessments utilize a battery cell cost model that incorporates material intensity and processing cost estimates for the Chinese domestic market, which is responsible for about 81.3% of global production [6]. Group 3: Industry Challenges - There is currently a lack of price transparency regarding CAMs, which are a significant part of battery costs. The new assessments aim to provide greater transparency and help quantify value in this opaque segment of the battery supply chain [5]. - As battery production scales globally, the supply of battery raw materials, particularly CAMs, will become a critical concern for manufacturers, with reliance on imports expected to continue for years due to the dominance of Chinese companies in key refining and production stages [5]. Group 4: Methodology and Data Integration - The new suite of CAM assessments leverages existing daily spot assessments for various battery materials, including lithium carbonate and nickel sulfate, and incorporates daily container freight price assessments for China-origin materials [7].