London, Jan. 24 (Korea Bizwire) – Benchmark PRA completes IOSCO, a world first tailored audit for lithium prices & EV battery raw materials
Benchmark Mineral Intelligence is delighted to announce the successful completion of an independent audit of its policies, processes and controls implemented to adhere to the IOSCO Principles for Price Reporting Agencies.
This was undertaken by PricewaterhouseCoopers LLP (PwC) to independently audit the key electric vehicle battery raw material price assessments for lithium, cobalt, nickel, and flake graphite.
It is the first audit of its kind to be tailored for each individual battery raw material market and showcases that Benchmark, a Price Reporting Agency (PRA), adheres to IOSCO’s recognised standards.
The audit ensures Benchmark is internally following its own rigorous, IOSCO-compliant procedures and adhering to methodologies designed specifically for each key battery raw material.
PwC’s opinion was issued over Benchmark’s activities as at 31 October 2021.
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The scope of the audit included the following EV battery raw materials published in our bi-weekly and monthly price assessment subscription services:
- Lithium Carbonate, ≥99.0%, FOB South America, USD/tonne
- Lithium Carbonate, ≥99.0%, CIF North America, USD/tonne
- Lithium Carbonate, ≥99.0%, CIF Europe, USD/tonne
- Lithium Carbonate, ≥99.2%, CIF Asia, USD/tonne
- Lithium Carbonate, Battery Grade, ≥99.5%, EXW China, RMB/tonne
- Lithium Carbonate, Technical Grade, ≥99.0%, EXW China, RMB/tonne
- Lithium Hydroxide, ≥55.0%, FOB North America, USD/tonne
- Lithium Hydroxide, ≥56.5%, CIF Asia, USD/tonne
- Lithium Hydroxide, ≥55.0%, CIF Europe, USD/tonne
- Lithium Hydroxide, ≥56.5%, EXW China, RMB/tonne
- Spodumene Concentrate, 6%, FOB Australia
The lithium ion battery anode feedstock:
- Flake Graphite, 90-93% C, -100 mesh, FOB China, USD/tonne
- Flake Graphite, 90-93% C, +100 mesh, FOB China, USD/tonne
- Flake Graphite, 94-95% C, -100 mesh, FOB China, USD/tonne
- Flake Graphite, 94-95% C, +100 mesh, FOB China, USD/tonne
- Flake Graphite, 94-95% C, +80 mesh, FOB China, USD/tonne
- Flake Graphite, 94-95% C, +50 mesh, FOB China, USD/tonne
- Flake Graphite, 94-95% C, -100 mesh DDP China, RMB/tonne
- Flake Graphite, 94-95% C, +100 mesh DDP China, RMB/tonne
The lithium ion battery anode precursor:
- Spherical Uncoated, 99.95% C, 10 microns, FOB China, USD/tonne
- Spherical Uncoated, 99.95% C, 15 microns, FOB China, USD/tonne
- Spherical Uncoated, 99.95% C, 20 microns, FOB China, USD/tonne
- Cobalt Sulphate, >20.5%, EXW China, RMB/tonne
- Cobalt Battery Metal, Min 99.8%, EXW Europe, USD/lb
- Cobalt Hydroxide, 100% Co Contained basis, CIF Asia, USD/tonne
- Nickel Sulphate, >22.0%, EXW China, RMB/tonne
- Nickel Sulphate, >22.0% Ni, CIF Asia, USD/tonne
- MHP payable, CIF Asia, % payable to LME nickel
Caspar Rawles, Chief Data Officer at Benchmark said:
“I am delighted that we have completed our latest IOSCO audit and achieved this world first – to have each of our specific methodologies for each key EV battery raw material of lithium, cobalt, nickel and flake graphite independently verified.
“To once again have our internal price reporting processes independently audited to the highest, most exacting standards is testament to the quality in which our growing team operates.
“This recognises the uniqueness and quality of what we do and the commitment by the Benchmark team to provide the most accurate and trusted price data for lithium ion battery and electric vehicle industry.”
Simon Moores, Chief Executive Officer, Benchmark said:
“We established Benchmark to achieve things that had not been done before in the publishing world for the benefit of the industry we serve.
“To accomplish this IOSCO first for battery raw materials is an independent stamp of approval for our world class company.
“We are the world’s leading and most trusted Price Reporting Agency (PRA) for the lithium ion battery and electric vehicle supply chain. The way we collect and assess Benchmark raw material prices is relied upon the world over.
“Benchmark’s prices are used within, to negotiate and to settle contracts in the active supply chain. Therefore, due to the strategic nature of prices we set for the EV industry, it was important to independently confirm the highest level of compliance for what we do.
“Lithium, nickel, cobalt and graphite are leading a new commodity supercycle and have developed into an asset class of their own.
“To have each of these key Benchmark raw materials prices independently verified in what is a commodity publishing first provides added confidence for those investing and actively trading to grow the electric vehicle revolution and energy transition.”
About Benchmark Mineral Intelligence:
Benchmark is the world’s leading provider of actionable intelligence for the lithium ion battery and electric vehicle supply chain.
Benchmark’s expertise together with our unique and rigorous data collection processes, add real knowledge to opaque industries that are central to the lithium ion economy.
Our subscription and advisory services guide the biggest investment decisions, government policy and industry collaboration around the world.
We are an IOSCO compliant Price Reporting Agency (PRA), providing independently assessed market prices for key EV battery raw materials of lithium, cobalt, nickel and graphite.
Our primary supply chain data collection process provides the foundation for our forecasting and strategic advisory divisions, guiding the most crucial decisions of the energy transition.
Benchmark’s expertise is reinforced by our ESG division that offers a set of subscription and consultancy services providing robust metrics and Life Cycle Assessments measuring the sustainability of the EV supply chain build out.
From the mine to cathodes and anodes, through to the lithium ion battery cell, Benchmark’s entire supply chain approach is unique and relied upon the world over.
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Source: Benchmark Mineral Intelligence Limited via GLOBE NEWSWIRE