Battery materials
Overview
Growth in global electric vehicles (EVs) and plug-in hybrid (PHEV) production has put a spotlight on battery materials. While lithium-ion batteries dominate the current market, this is a rapidly emerging technology space where improved range or charge times can quicky shift industry sentiment and investment in a different direction.
Argus is at the forefront of battery materials pricing and reporting with coverage of common battery metals (lithium, cobalt, nickel, graphite), industry-grade cathodes and black mass. As experts in specialty metals and rare earths, we future-proof our price assessment portfolio with a range of electronic metals crucial to the manufacture of technology deployed in modern vehicles.
Our Argus Battery Materials and Argus Non-Ferrous Markets services help businesses to understand these complicated supply chains, including price volatility and sustainability challenges around future demand.
Minor metals: Battery metals
As automakers continue to invest in electric vehicle production and power companies explore infrastructure that includes energy storage programmes, the metals contained in lithium-ion batteries supporting these products has attracted interest from investors, institutions and manufacturers alike.
Argus is well positioned to provide insight into price volatility, global supply and responsible material sourcing for all manufacturers and investors in this sector.
Highlights of Argus battery materials coverage
- Understand the context of significant price movements and industry trends with a weekly PDF that highlights the most important market news across lithium, cobalt, graphite, nickel and other common battery materials
- Mitigate risk and perform reliable forward planning with 1-year and 10-year forecasts across different battery metals, chemistries and industries
- Gain a competitive edge with industry-specific tools, such as the Black Mass Calculator that estimates the intrinsic value of different battery chemistries (including cathodes like NCM111, NCM523, LFP, NCA)
- Invest with confidence knowing Argus is IOSCO-compliant with over 50 years of experience delivering trusted price data and market intelligence
Stay ahead of the battery material markets
To be informed of relevant content, sign up to Argus Battery Materials Market Highlights. Each newsletter issue provides key prices, selected news, downloadable insight papers, podcasts, and on-demand videos across all major battery raw materials. Our coverage spans lithium, cobalt, nickel, and more, enabling you to explore end-to-end the battery metals and EV industries.
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Critical minerals to boost Brazil's GDP: AmCham
Critical minerals to boost Brazil's GDP: AmCham
Sao Paulo, 5 August (Argus) — Brazil's critical minerals industry could add up to R192bn ($37bn) to the country's gross domestic product (GDP) by 2050, according to the US chamber of commerce (AmCham) for Brazil. AmCham Brazil, the largest overseas US-centered business association in the world, published on 4 August a study about the potential economic gains that the critical minerals industry could bring to Brazil's GDP. For that, it considered two scenarios. In the first scenario, investment would come mainly from domestic capital and critical minerals output would remain focused on exports of lower value-added products — such as spodumene ore and rare earths carbonates — with zero to no domestic downstream integration. This case would focus on increasing critical minerals production by 2050, requiring R104.8bn in investments. The added output would lift Brazil's GDP by 1.1pc, translating into a R128.6bn rise, and create 304,000 jobs. The second scenario assumes greater foreign investment, expanded mineral processing in Brazil and growing use of higher value-added critical minerals products by the domestic industry. The necessary investments to support this expansion are R120.8bn, but returns could increase Brazil's GDP by 1.6pc, or R192bn by 2050, while also creating 750,000 jobs. Vertically integrating Brazil's critical minerals industry would bring R63.4bn in GDP gains, while also boosting domestic consumption of higher value-added critical minerals products by R32.3bn, according to AmCham. The study's result aligns with Brazil president Luiz Inácio Lula da Silva's push to vertically integrate the critical minerals industry in Brazil, despite skepticism from the industry towards the feasibility of adding downstream plants to the country without substantial federal grants. Production increases expected AmCham also expects Brazil's critical minerals output to increase across the board, including the addition of cobalt output, which is currently non-existent in the country. AmCham expects Brazil's copper, graphite, lithium, nickel, cobalt and rare earths output to consistently grow by 2050, with rare earths and graphite experiencing the sharpest growth spurts. Brazil has the world's second-largest rare earths reserves but minimal production. AmCham expects Brazil's rare earths output to rise from 20 metric tonnes (t) in 2024 to 12,800t in 2050, a 28pc compound annual growth rate (CAGR). Graphite is also expected to increase, going from 68,000t to roughly 1.6mn t, a 12.9 CAGR. By Pedro Consoli Brazil's critical minerals production projections metric tonnes Mineral 2024 output 2050 proj. output 2024-2050 CAGR (%) Copper 527,000 894,000 2.1 Graphite 68,000 1,600,000 12.9 Lithium 10,000 133,000 10.5 Nickel 77,000 117,200 1.6 Cobalt 0 17,400 na Rare earths 20 12,800 28.2 AmCham drew its figures from 2025 studies by Brazil's international relations (CEBRI), mining technology (CETEM), and mineral (IBRAM) institutes. AmCham Brazil Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Eramet to expand Argentina lithium operations
Eramet to expand Argentina lithium operations
Sao Paulo, 5 August (Argus) — French mining and metallurgy company Eramet has begun studies to support an expansion of its Centenario-Ratones lithium project in Argentina's Salta province. Eramet plans to add 11,000 metric tonnes (t)/yr of lithium carbonate equivalent to Centenario, bringing total capacity to 35,000t/yr. The project, which recently reached 90pc of its original designed capacity of 24,000t/yr, is ran by a subsidiary of the company called Eramine Sudamérica. The French company plans to invest $350mn in the expansion, which will be the first of a series of capacity additions to Centenario. Eramet plans for the project to yield 150,000t/yr when all expansions are concluded over several years. Eramet also plans to file a Rigi application to support the project, a government program that provides investment incentives, global chief executive Christel Bories told Salta's provincial government, which announced the news. Rigi grants benefits to approved participants, including exemptions from value-added and import–export taxes, as well as legal protections that allow companies to settle disputes in courts outside Argentina. It also guarantees 30 years of legal stability, ensuring that the benefits cannot be revoked by any future president during that period. There is no public timeline for the expansions or the Rigi application. By Pedro Consoli Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UK EV sales surge, ZEV mandate debate continues
UK EV sales surge, ZEV mandate debate continues
London, 5 August (Argus) — UK battery electric vehicle (BEV) sales rose by 44.5pc in July to claim a record 27.5pc market share, as overall new car sales climbed by 11.7pc, according to Society of Motor Manufacturers and Traders (SMMT) data. The figures extend a run of strong EV growth and raise questions about whether the market is still lagging government targets to the extent often claimed. BEVs accounted for 25.3pc of sales in January-July and 27.5pc in July, while petrol and diesel-powered car sales continued to lose ground (see graph) . SMMT said BEV sales remain below this year's headline 33pc zero-emission vehicle target, and it forecasts a 27.4pc full-year showing. But manufacturers are not aiming for 33pc because the system includes credits and other flexibilities that reduce the effective compliance level, according to Stuart Masson, founder of consumer website The Car Expert. The current share is already broadly in line with the level many brands need to achieve, he said. That suggests carmakers already on track for compliance have little incentive to keep pushing sales through additional discounting, particularly with tougher targets ahead next year, Masson said. The interpretation plays down other warnings that EV growth still relies heavily on incentives and manufacturer support, despite repeated increases in sales. A weak showing in July 2025 inflated last month's annual growth rate after uncertainty over Electric Car Grant eligibility delayed purchases. But recent months have delivered strong EV growth, suggesting the trend extends beyond grant-related distortions. Private sales rose by 12.6pc, outpacing commercial fleet growth of 9.5pc. Fleet buyers still accounted for almost 60pc of the market, but the stronger private performance may indicate that EV demand is gradually broadening beyond company car schemes and salary-sacrifice programmes. Plug-in hybrid vehicle (PHEV) sales rose strongly, too. Combined BEV and PHEV sales accounted for more than 42pc of the market, continuing a pattern this year as buyers move away from pure combustion vehicles, while some still hedge against concerns over charging costs and infrastructure. By Chris Welch UK new July car sales '000s Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India's Ola, Axis Energy sign utility-scale Bess deal
India's Ola, Axis Energy sign utility-scale Bess deal
Mumbai, 5 August (Argus) — Indian electric vehicle maker Ola Electric has entered the utility-scale battery energy storage system (Bess) market through its first large-scale partnership for the upcoming Mahashakti platform, signing a deal with renewable energy developer Axis Energy for the potential deployment of up to 20GWh of storage capacity by 2032. The memorandum of understanding (MoU) is the first commercial agreement for Mahashakti — Ola's utility-scale and commercial and industrial energy storage platform. The platform will launch on 15 August, Ola Electric said on 4 August. The agreement targets a scale-up in deployments to 5GWh/yr from 2028. Mahashakti is an India-designed and India-made Bess platform aimed at renewable energy integration, industrial power, grid infrastructure and data-centre use, Ola Electric said. Its vertically integrated model, covering cell technology, manufacturing and system engineering, is intended to improve safety, bolster supply-chain security and reduce total ownership costs. Ola Electric described the Axis Energy MoU as an "important early validation" of demand for the platform and said it is witnessing strong interest from potential partners as it builds a demand pipeline. Axis Energy told Argus that it will progressively deploy Mahashakti Bess across its upcoming renewable energy projects in Andhra Pradesh and Rajasthan. It has secured grid approvals for more than 3,750MW of projects in Andhra Pradesh and Rajasthan, with a further pipeline of around 3,500MW. The projects, spanning firm and dispatchable renewable energy (FDRE), hybrid and other non-solar configurations, will require large-scale Bess to improve renewable energy integration, enhance grid reliability and deliver round-the-clock clean power. The announcement comes as India accelerates battery storage deployment to support renewable energy integration. Ola cited Central Electricity Authority estimates that India will need more than 400GWh of energy storage capacity by 2032. About 2,668.54MW/7,785.6MWh of Bess capacity was added during the April 2025-March 2026 fiscal year, while around 47GW of Bess capacity has been considered for integration by 2031-32 under the National Electricity Plan (Transmission), the power ministry said on 3 August. By Keertiman Upadhyay Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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