|
|
| |
|
|
Electric cars yet to turn cobalt market into gold mine - Nornickel-The 19th China (Guangzhou ) Int’l Casting product Exhibition
11/2/2017 casting expo-Die-casting expo-foundry expo |
--------------------------------------------------------------------------------------------------------------- |
|
Reuters reported that demand for cobalt used to make rechargeable batteries that power electric cars has not yet translated into a tighter market. According to Russia''s Norilsk Nickel, a major producer of the metal, materials used to make the batteries will be a key topic of discussion during LME Week, a gathering of the metal industry in London this week.
Mr Anton Berlin, Nornickel''s head of strategic marketing, told Reuters in an interview that "The price is higher but there is no tense situation with cobalt supply now.” He said that "Everyone is looking into the future, looking at the charts of future demand for electric cars and when they start to transform them into cobalt, they see gold mines. But it is a vision of the future."
Prices for cobalt metal , used in production of electric vehicle batteries, have tripled to nine-year peaks above USD 30 a lb from below USD 10 a lb in late 2015.
CRU consultant George Heppel expects global demand for cobalt metal to be nearly 136,000 tonnes in 2021 and more than 161,000 tonnes in 2025 from roughly 102,000 tonnes this year.
Demand for batteries used in electric vehicles and mobile appliances is expected to account for 46 percent of that in 2021, up from about 40% this year.
This growing demand is why many companies in the electric vehicle supply chain are trying to secure supplies of cobalt.
Nornickel said this year it was in talks to supply raw materials needed for making lithiumion batteries in Europe to German chemicals firm BASF.
Mr Berlin said that "We have signed the memorandum of understanding and so far we have nothing to add to our previous public comment. But this is a significant trend because the issue of batteries and electric cars became super popular.”
Nornickel produces about 5,000 tonnes of cobalt a year as a by-product of nickel. Cobalt is also a by-product of copper.
Mr Berlin further said that "We see that our traditional clients from the catalysts business are now in the battery business too. Some of them created this business, some of them purchased some assets in this industry. That''s why the interest (in cobalt) is more visible.”
Major autocatalyst manufacturer Johnson Matthey said last month it planned to invest an initial 200 million pounds (USD 263.22 million) in expanding its battery material technology business from next year, seeking to capitalise on the growing market for electric vehicles.
-The 19th China (Guangzhou ) Int’l
Casting product Exhibition
-Casting product Exhibition, 2018 casting
product Exhibition, China Casting product Exhibition, Casting Exhibition, China
Casting Exhibition, 2018 Casting Exhibition, Casting product Expo, 2018 casting
product Expo, China Casting product Expo, Casting Expo, China Casting Expo,
2018 Casting Expo,
|
|
|
|
|
