Ahead of the S&P Global Platts Global Metals Awards in London, on May 16, The Barrel presents a special series of articles looking at the global metals trade. Emmanuel Latham and Felix Maire take a look at how changing battery chemistries will affect markets for metals like cobalt, nickel and lithium. As the automotive sector hits difficult times, electric vehicles are proving to be one area in which horizons seem bright. Global light duty plug-in electric vehicles were up 43% year on year in February as depicted in the latest Platts Analytics EV Essentials data, and several carmakers are increasing their commitment to the electrification of passenger vehicles. As these commitments grow, the raw materials that underpin the EV industry are subject to greater scrutiny. Lithium, cobalt and nickel are all key components of the current cathode technology, NMC. Both lithium and cobalt have seen the landscape of their markets rewritten by the newfound demand, while nickel, the only one of the new ”battery metals” whose major demand base is not batteries, looks set to experience some supply shortages going forward. Consumer demand and favorable Chinese subsidies have seen the battery industry pushing towards increased ranges in recent years, while cobalt’s… continue reading
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Source: CTRM Center