Other Commodities in Electric Cars
The revolution in electric vehicles set to upturn industries from energy to infrastructure is also creating winners and losers within the world’s biggest metals markets.
It is expected that more Lithium, Cobalt, Copper, Aluminum and Nickel are demanded.
In anther post, I have briefly introduced Lithium, which is the key component in Electric Car Batteries.
https://defeatmarket.blogspot.com/2017/10/invest-in-lithium.html
In this post, I will introduce other related commodities:
Lithium cobalt oxide (LiCoO2) is widely used in lithium ion battery cathodes. YTD, Cobalt price has been pushed up 80%.
The problem: 60% of the world’s cobalt reserves are in the Democratic Republic of Congo (DRC), where political instability and violence have created a serious moral dilemma for miners and companies such as Tesla and Apple. By 2015, DRC supplied 60% of the world production of 32,000 tons at prices of $20,000 to $26,000 per ton. Early this year, UN has reportedly found scores of mass graves, with deaths that they link to government forces. This has led some companies to pull out of mining and focus on resources elsewhere, especially in Canada.
The Mukondo Mountain project, operated by the Central African Mining and Exploration Company in Katanga, is another rich cobalt reserve in Africa. In July 2009 CAMEC announced a long term agreement under which CAMEC would deliver its entire annual production of cobalt in concentrate from Mukondo Mountain to Zhejiang Galico Cobalt & Nickel Materials of China.
Copper is used for wiring in Electric Car. An electric car uses 80 kg of copper for wiring, compared to 20 for a petroleum-fueled one. Last month, the price of copper climbed to its highest level in three years. BHP Billiton, the world’s largest mining company (by market value) and producer of copper, says it expects copper to be one of the commodities most immediately impacted by electric vehicles. Even as more copper will be needed as electric vehicle production increases, price gains probably will not be as dramatic as for Lithium or Cobalt. There is a much larger supply, and its market price is heavily linked to changes in demand in China.
It is expected that more Lithium, Cobalt, Copper, Aluminum and Nickel are demanded.
In anther post, I have briefly introduced Lithium, which is the key component in Electric Car Batteries.
https://defeatmarket.blogspot.com/2017/10/invest-in-lithium.html
In this post, I will introduce other related commodities:
Cobalt
Lithium cobalt oxide (LiCoO2) is widely used in lithium ion battery cathodes. YTD, Cobalt price has been pushed up 80%.
The problem: 60% of the world’s cobalt reserves are in the Democratic Republic of Congo (DRC), where political instability and violence have created a serious moral dilemma for miners and companies such as Tesla and Apple. By 2015, DRC supplied 60% of the world production of 32,000 tons at prices of $20,000 to $26,000 per ton. Early this year, UN has reportedly found scores of mass graves, with deaths that they link to government forces. This has led some companies to pull out of mining and focus on resources elsewhere, especially in Canada.
The Mukondo Mountain project, operated by the Central African Mining and Exploration Company in Katanga, is another rich cobalt reserve in Africa. In July 2009 CAMEC announced a long term agreement under which CAMEC would deliver its entire annual production of cobalt in concentrate from Mukondo Mountain to Zhejiang Galico Cobalt & Nickel Materials of China.
Copper
Copper is used for wiring in Electric Car. An electric car uses 80 kg of copper for wiring, compared to 20 for a petroleum-fueled one. Last month, the price of copper climbed to its highest level in three years. BHP Billiton, the world’s largest mining company (by market value) and producer of copper, says it expects copper to be one of the commodities most immediately impacted by electric vehicles. Even as more copper will be needed as electric vehicle production increases, price gains probably will not be as dramatic as for Lithium or Cobalt. There is a much larger supply, and its market price is heavily linked to changes in demand in China.
Others
Nickel Price from June, 2016
Aluminum in a Year
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