Electric Vehicles Are Starting to Buoy the Global Metals Market – by Yvonne Yue Li (Bloomberg News – July 7, 2020)

https://www.bloombergquint.com/

The market gloom over the metals that will power the cars of the future is starting to lift. Supply overhangs and then the coronavirus pandemic had crushed short-term prospects for the minerals used to make rechargeable batteries.

But new government commitments to green transport in China and Europe, as well as curtailments to mining and future investments, have led to a growing consensus the markets are bottoming out.

Add in the fact that battery technologies are continuing to get cheaper, and there’s reason to be bullish “over the next few years once we get through the current predicament,” said Chris Berry, president of House Mountain Partners, an industry consultant.

“The European Union, in particular, is essentially rebuilding their automotive supply chains around battery metals, and incentivizing EV adoption,” Berry said in a phone interview. “The Chinese have re-instituted the EV subsidy regime as well.”

For the rest of this article: https://www.bloombergquint.com/technology/the-relentless-march-toward-an-ev-future-is-good-news-for-miners

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