Until now, the trees in the electromobility market seemed to reach to the sky. Strong and persistent demand was expected. Accordingly, the forecasts for those industrial metals that are of central importance for electromobility were also very positive, which was also reflected in the fact that the supply was expanded. A certain disillusionment has now set in. There is still growth in the markets for electromobility. However, the exorbitant growth rates of previous years are no longer being achieved, as shown, for example, in the most important market, namely China (see graphic). Excessive production of electric cars, the build-up of inventories, but also a reduction in material inventories at battery manufacturers have led to weaker demand for the materials needed for batteries. As a result, prices for metals such as lithium and cobalt have fallen significantly over the past year. Market observers such as Fastmetals assume that sales of electric cars will continue to rise this year, but at a reduced growth rate compared to 2023. The difficult economic situation in many parts of the world and the still high interest rates would contribute to this. This is particularly true for the large US market, where loans and therefore interest rates play a particularly important role.
2024-02-06 17:09:43
#Tough #times #markets #lithium #cobalt #Stock #exchanges #newspaper
