S&P Global Commodity Insights Launches Global Suite of Platts CAM Daily Calculated Cathode Active Material Assessments
Rhea-AI Summary
S&P Global Commodity Insights has announced the launch of new daily cathode active material (CAM) calculated price assessments for China, Europe, and North America, effective March 24, 2025. The assessments focus on LFP and NMC lithium-ion battery chemistries, which currently dominate the market with LFP holding 43% and NMC variants holding 18% of global demand.
The new suite includes 24 price assessments that will provide transparency in the battery supply chain, particularly for CAMs which are important components affecting battery performance. The calculations leverage Commodity Insights' battery cell cost model and incorporate various factors including material intensity and processing costs for the Chinese market, which accounts for 81.3% of global production.
This initiative comes amid significant growth in battery demand, driven by electric vehicles and Battery Energy Storage Systems (BESS). Global BESS capacity additions grew 49% year-on-year in 2024 and are forecast to grow another 29% in 2025.
Positive
- First-ever daily European and North American CAM import price assessments launched
- Addresses important market transparency needs in rapidly growing battery sector
- Leverages comprehensive data from established battery materials assessments
- Strong market growth indicators with BESS capacity additions up 49% YoY
Negative
- Heavy dependence on Chinese CAM production (81.3% of global supply)
- regional diversification in CAM manufacturing capability
- Other regions likely to remain import-dependent for years
News Market Reaction 1 Alert
On the day this news was published, SPGI declined 0.78%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
First in Market Global Daily Frequency Calculated Price Assessments Meet Information Needs of Fast-Growing Battery Supply Chain Industry
The new offering focuses on the CAM chemistries for LFP (lithium iron phosphate), NMC622 and NMC811 (nickel-manganese-cobalt) lithium-ion batteries that are expected to hold a large market share in the coming years. LFP currently holds around
CAMs are the electrochemically active components in a lithium-ion battery's cathode. CAMs are synthesized materials, typically composed of metal oxides, used to produce electrodes (or cathodes) which, alongside the anode and electrolyte, facilitate the storage and release of lithium ions during charge and discharge cycles. The specific composition of the CAM significantly influences the battery's performance - including its energy density, cycle life, and safety.
Viral Shah, Managing Editor, EMEA Low Carbon & Base Metals, at S&P Global Commodity Insights, commented, "We are pleased to announce the launch of this new suite of Platts Cathode Active Material calculated price assessments, providing the first-ever daily European and North American import price assessments alongside a crucial focus on the key
At present, there is insufficient price transparency on the cost of CAMs, which are a key part of the most valuable aspect of a battery – the cathode – and make up a large portion of overall battery cost. Against this backdrop, Platts, with its extensive suite of daily spot battery materials assessments, provides market participants with comprehensive pricing information for this crucial energy transition sector."
Henrique Ribeiro, Principal Analyst Technologies & Supply Chains, ETSS, at S&P Global Commodity Insights, commented: "As battery production scales globally, supply of battery raw materials – especially Cathode Active Materials – will become a key concern for battery manufacturers. The manufacturing scale involved makes technological change more difficult and so LFP and NMC chemistries are expected to dominate for some time. Since key refining and CAM production stages are dominated by Chinese companies, other regions are likely to remain reliant on imports for years to come."
Battery demand is expected to grow sharply in the coming years not just from the growth in adoption of electric vehicles, but also from Battery Energy Storage Systems (BESS) which are increasingly being deployed to capture energy generated from solar and wind plants, as well as use as back up sources of energy for high-energy consumption end uses such as data centers. Global BESS annual capacity additions grew
The new calculated CAM assessments leverage Commodity Insights research team's battery cell cost model, factoring in material intensity and proprietary processing cost estimates for the Chinese domestic market.
The 24-strong series leverages Platts established daily spot assessments for lithium carbonate, lithium hydroxide, cobalt sulfate, nickel sulfate, manganese sulfate, and iron ore, as well as its weekly technical monoammonium phosphate (TMAP) assessment, while the calculated CIF assessments for
The subscriber note can be accessed here, while a full description of the Platts assessment methodology can be found here.
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About S&P Global Commodity Insights
At S&P Global Commodity Insights, our complete view of global energy and commodity markets enables our customers to make decisions with conviction and create long-term, sustainable value.
We are a trusted connector that brings together thought leaders, market participants, governments, and regulators and we create solutions that lead to progress. Vital to navigating commodity markets, our coverage includes oil and gas, power, chemicals, metals, agriculture, shipping and energy transition. Platts® products and services, including leading benchmark price assessments in the physical commodity markets, are offered through S&P Global Commodity Insights. S&P Global Commodity Insights maintains clear structural and operational separation between its price assessment activities and the other activities carried out by S&P Global Commodity Insights and the other business divisions of S&P Global.
S&P Global Commodity Insights is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information visit https://www.spglobal.com/commodity-insights/en.
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SOURCE S&P Global Commodity Insights
FAQ
What are the new CAM price assessments launched by S&P Global Commodity Insights (SPGI) and when do they start?
What battery chemistries are covered in SPGI's new CAM assessments?
How much of global CAM production does China control according to SPGI?
What was the growth rate of global BESS capacity additions in 2024, and what is forecast for 2025?
