High LiOH prices could impact adoption of NCM811
The current price premium for lithium hydroxide could impact the take-up of NCM 811 battery chemistries vs higher cobalt peers. Unlike NCM523 and NCM622, NCM811 batteries require lithium hydroxide in their production rather than lithium carbonate, which is incapable of standing up to higher temperatures in the sintering process. With current lower than expected cobalt sulphate prices and the Rmb30-40,000/t premium for lithium hydroxide over lithium carbonate, the economics for NCM811 don’t look as attractive as they did 6-12 months ago. Also, as we reported in our September issue, there have been problems commercialising NCM811 technology. Both SK innovation (KRX:096770)...