Daily Metal Prices
EQM Indexes Battery Metals Commentary: April 27, 2020
Jane Edmondson / Apr 27
China announced it is cutting NEV (new energy vehicle) subsidies 10% through 2022, but this could be a near-term positive according to BMO Capital Markets, as it will bring purchases forward that may have been delayed, providing a much needed boost for the lithium and cobalt markets. Furthermore, Chinese living in the cities are shunning public transport these days in favor of personal vehicles. Expressway traffic is up 35% year-over-year. China is the world's biggest car market, where more than 25 million vehicles, including 1.2 million NEVs, were sold last year. A recovery in China auto sales may just be the shot in the arm the battery metals supply chain needs in the wake of COVID-19.
New China EV incentives fresh boost for cobalt, lithium price
China on Thursday announced changes to purchase incentives for electric and hybrid cars, locally referred to as new energy vehicles (NEV), which earlier this month was extended for two years until the end of 2022.
To Understand the Medical Supply Shortage, It Helps to Know How the U.S. Lost the Lithium Ion Battery to China
The failed U.S. effort to dominate global production of the lithium ion battery - which is key to energy independence, automobile innovation and more - holds lessons for leaders grappling with the U.S.'s reliance on China for emergency medical supplies.
Europe's largest lithium project fully funded
European Metals Holdings' shareholders have approved a major investment in the company's Cinovec lithium and tin project in Czech Republic, believed to be Europe's largest deposit of the battery metal.
The U.S. Army could start purchasing electric versions of the Joint Light Tactical Vehicle, the Pentagon's new replacement for the Humvee.
Tesla Model 3 Changing EV Charging Demand
A recent study by Fleetcarma analyzed EV charging behavior today and compared it to 5 years ago. Using data from 3,900 EV drivers, it found that electric cars today with larger battery packs charge less often - there is less need to plug in every day if a car has a range of 200 miles or more - but the average amount of electricity used in each session is double what it was in prior years.
Goodenough, now 97, is self-isolating from the coronavirus and working on Nobel-related commitments. But the job of commercializing the potential breakthrough is being carried forward by the public utility Hydro-Québec.
Chile's lithium miner SQM warns plans could change as coronavirus hits demand
Chilean miner SQM said on Thursday the coronavirus outbreak had yet to hit its lithium output, but warned it might have to scale back plans for 2020 if a slump continues in demand for the coveted battery metal.
Three lithium companies struggling with COVID-19
COVID-19 could hit the lithium industry going into next year as US and European carmakers are mothballing factories, while metals producers are considering scaling back plans if the drop in demand continues.