Global cathode and precursor market strategic planning outlook - Q2 2022

Prices for cathode materials are expected to peak in 2023, driven mainly by expected elevated levels of lithium prices. Other major battery raw material prices will start to fall in the coming years at least until the middle of the decade. Healthy EV sales in H1 2022 despite covid restrictions in China are supporting higher demand for the near-term period. With the correction in nickel and cobalt prices next year we're expecting increased competition between ternary CAMs and LFP, as production of the latter gained strong moment while prices were elevated