NCM series
L&F is in negotiations with SK Innovation to supply battery cathode materials. The goal is a contract within the year When a formal contract is signed, it will secure additional large-scale customers following LG Energy Solution (worth 1.4 trillion won) in December of last year.
According to industry sources on the 15th, SK Innovation is reported to be considering a contract with L&F to supply high-nickel cathode materials with a nickel capacity of more than 80%. It is known as a high-nickel nickel-cobalt-manganese (NCM) cathode material. Nickel, cobalt, manganese, and aluminum (NCMA) cathode materials that L&F decided to supply to LG Energy Solutions are not covered. NCM811 (nickel, cobalt, manganese specific gravity 8:1:1) cathode material is the dominant.
However, it has not been finalized. There is a possibility that the contract will be canceled due to disagreements over price and supply volume.
If SK Innovation signs a formal contract with L&F, it will be the first transaction. It is possible to diversify the cathode material procurement sources centered on Ecopro BM. Specific movements were identified, such as reviewing the expansion of cathode material transactions with POSCO Chemical.
Ecopro BM established a joint venture for cathode materials (Ecopro BM) with another large customer, Samsung SDI, last year. It is attempting to break away from the profit structure centered on processing costs by participating in the battery recycling business of LG Energy Solutions Poland plant together with the holding company Ecopro.
An official from SK Innovation said, “There is nothing set in relation to the contract for supplying cathode materials with L&F.”
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