Price increases in Asia, strategic agreements in Africa, record tariffs in the U.S., and calm in Europe — that’s how the global battery metals landscape shifted this week, according to the latest update from Platts Battery Metals, the specialist publication by S&P Global Commodity Insights.
By Panorama Minero
From lithium and cobalt to graphite and sulfates, data compiled by Platts analysts reflects an industry in flux — shaped by trade tensions, geopolitical strategy, and hopes for recovery.
Lithium: Bullish in Asia, Flat in Europe
According to Platts Battery Metals’ daily tracking, battery-grade lithium carbonate surged in China, fueled by strong interest in futures contracts and rising raw material costs.
On July 18, the lithium futures contract on the Guangzhou Futures Exchange closed at Yuan 69,960/ton.
In the spot market, offers were reported between USD 8,500 and USD 8,800/ton CIF North Asia, based on sources consulted by Platts.
In contrast, the European market remained largely inactive. As one importer told Platts, “Everything's stalled. It’s the off-season and no one is buying or selling.” Prices hovered around USD 8,000/ton CIF, with limited movement.
Cobalt: Modest Increase Driven by Chinese Regulation
Platts’ weekly update also reported a slight rise in cobalt sulfate prices in China, attributed to new regulations requiring power banks to be 3C-certified for domestic air travel.
This has boosted production of LCO (lithium-cobalt-oxide) batteries — widely used in portable electronics. Still, Platts notes that profit margins remain tight and manufacturers are reluctant to absorb substantial price hikes.
Graphite: U.S. Slaps 93.5% Tariff on China
One of the most significant headlines from the Platts Battery Metals report was the U.S. Department of Commerce's decision to impose a 93.5% antidumping tariff on Chinese graphite.
Graphite, a core component in lithium-ion battery anodes, is now part of the ongoing tech and trade conflict between the U.S. and China. Platts highlighted that the tariff is being applied even before the final ruling is issued, adding pressure on importers.
Kobold Metals Moves Into the Congo With U.S. Backing
Another standout item in the Platts report was Kobold Metals’ entry into the Democratic Republic of Congo, backed by U.S. investors including Jeff Bezos and Bill Gates. The mining startup signed a preliminary agreement to explore the contested Manono lithium project, aligning with U.S. policy to diversify critical mineral supply chains.
According to Platts, the deal was announced in the presence of DRC President Félix Tshisekedi and is part of a broader mining cooperation framework with Washington.
Tees Valley Lithium Secures Major Supply Deal With Chile
Finally, Platts Battery Metals reported the signing of a supply agreement between UK-based Tees Valley Lithium and Chile’s Llamara project, covering up to 100,000 tons of lithium equivalent over five years.
Statements shared with Platts indicate that the contract guarantees long-term feedstock for a future lithium hydroxide refinery in the UK, intended to serve the European market with a focus on low-carbon, sustainable sourcing.
A Market Under Pressure
Platts Battery Metals’ reporting makes it clear: the battery metals business isn’t just about pricing. It’s shaped by regulations, trade barriers, and strategic moves by key global players.
With demand for electric vehicles and energy storage on the rise, today’s decisions — from a tariff in the U.S. to a lithium deal in the Congo — will directly influence the global lithium, cobalt, and graphite markets in the years ahead.
