- Write by:
-
Tuesday, January 4, 2022 - 13:30:48
-
289 Visit
-
Print
Mining News Pro - The cost of batteries for electric vehicles is set to rise in 2022 as supplies of raw materials fail to keep up with rising demand.
Prices for battery-grade lithium carbonate in China jumped this year to a record high of 261,500 yuan ($41,060) per tonne, more than five times higher than last January.
Other commodities used in cathodes have also been rising.
The cobalt price has doubled since last January to $70,208 a tonne, while nickel jumped 15% to $20,045 a tonne.
For the near-term outlook, passenger EV sales are set to more than quadruple to 14 million units in 2025, representing 16% of the global market, according to Bloomberg NEF.
According to S&P Global Market Intelligence, lithium supply is forecast to jump to 636,000 tonnes of lithium carbonate equivalent in 2022, up from an estimated 497,000 in 2021. But demand will jump even higher to 641,000 tonnes, from an estimated 504,000.
“We’re entering a sort of new era in terms of lithium pricing over the next few years because the growth will be so strong”, Wood Mackenzie research director for battery raw materials Gavin Montgomery said in a note.
“Lithium supply will face a number of vulnerabilities, including geographical concentration at both the mining and refining level, as well as the limited presence of established and large mining players,” said Fitch in a recent report.
Cobalt has the potential to extend gains in 2022 after doubling in price in 2021, according to Marubeni Corp., a major Japanese trader.
“Demand is growing at a faster pace than anticipated,” said Yoichiro Suga, Marubeni’s non-ferrous metals and materials trading general manager.
Short Link:
https://www.miningnews.ir/En/News/618353
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Chile’s state copper company Codelco defended its proposed lithium production tie-up with SQM in response to criticism ...
Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer ...
Interros, Nornickel’s largest shareholder, on Monday called allegations by fellow shareholder Rusal about undervalued ...
Chile’s state-run miner Codelco plans to select a partner for a future lithium project in one of the country’s top salt ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
Polish government is abandoning plans to separate coal-fired power plants into a special company and is considering ...
No comments have been posted yet ...