The Economist discusses the rise in battery metal prices along side a rise in the price of oil, here…
“Meanwhile a wave of green enthusiasm is sweeping the markets. Tesla, an electric-vehicle maker, is more valuable than the eight next-biggest carmakers combined. JPMorgan Chase, a bank, reckons the share of electric vehicles (excluding hybrids) in global new vehicle sales will rise from 3% in 2020 to 15% in 2030. Electric cars account for about a quarter of demand for cobalt, a similar share for neodymium and praseodymium, and nearly half of the demand for lithium, according to cru Group, a consultancy. Other green technologies are supporting prices, too. Copper is essential not only for electric cars, but also for solar panels, wind turbines and 5g infrastructure. The recent rally may therefore be a sign of a strange pattern to come: higher prices for both oil and the metals that may help replace it. “
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