Experts expect prices to rise in 2022

Battery metals

Electric cars, power lines and wind farms require large amounts of metals. Experts have identified four major beneficiaries: copper, nickel, lithium and cobalt.

(Photo: Bloomberg)

Zurich It was only brief news, but it marked a turning point in the expansion of electric mobility. For the first time in years, the prices for battery cells rose at the beginning of November, as the industry service Benchmark Minerals recently reported. The reasons given by the experts include increased raw material prices, for example for the most important component of batteries: lithium.

The report is an indication that the growth plans of many battery cell manufacturers have so far hardly been compatible with the supply of raw materials. Similar to the battery industry, other branches of the economy could soon be affected, warns Michael Widmer, raw materials analyst at Bank of America.

The energy transition and the 1.5 degree target have been the focus of public attention since the climate summit in Glasgow, according to Widmer. “The amount of extracted raw materials that we need for these goals is less of a focus.” Electric cars, power lines and wind farms require large amounts of metals.

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