Lithium has tumbled almost 70% so far this year, while nickel has plummeted around 40%. Cobalt too has dropped…laid low by slowing sales growth for electric vehicles as well as supply increases coming out of China, Indonesia and the Democratic Republic of the Congo…
A “huge build-out” in Chinese battery capacity, aided by government policies, means supply outweighs demand by two to one, ANZ Group Holdings Ltd. analysts Daniel Hynes and Soni Kumari said in a note last week. This has seen battery markers cut output and reduce their inventories…
The lower metal prices are providing some cost relief to automakers and battery producers and could lead to cheaper EVs for consumers…In the longer term, the question is whether the current cycle of lower prices sees companies canceling or delaying plans for new mines or refineries for the coming decade
DB2