Image: Limited Edition Hot Wheels Cybertruck
The value of metals used in batteries for the nascent electric vehicle industry measured for the first time
It is worth remembering that the first all-electric vehicle to use a lithium-ion battery – the Tesla roadster – only rolled off assembly lines in 2008.
And the blue-sky scenarios and exuberant forecasts for electric vehicle demand and mining only really started to make headlines three or four years ago.
And those headlines came just at the right time for an industry at the bottom of a brutal business cycle and in desperate need of a feelgood news story.
Not that the feeling lasted all that long.
All of mining is mercifully free of the ravages of price stability, but even tulip bulbs took longer from boom to bust than EV metals.
But how does falling prices for lithium, cobalt, graphite and nickel square with demand forecasts that all start in the bottom left corner and end in the top right?
Pedal to the metal
To get a better grip on the nascent sector, MINING.COM combined two sets of data:
- First, prices paid for the mined minerals at the point of entry into the global battery supply chain.
London-based Benchmark Mineral Intelligence, a global battery supply chain, megafactory tracker and market forecaster, provides MINING.COM with monthly sales-weighted price data.
- Second, the sales weighted volume of the raw materials in electric and hybrid passenger car batteries sold around the world.
Toronto-based Adamas Intelligence, which tracks demand for EV batteries by chemistry, cell supplier and capacity in over 90 countries provides the data for the raw materials deployed.
Benchmark has been tracking megafactory construction since Tesla broke ground on the first of its kind in June 2014. Adamas completes the chain, recording all that battery power hitting the…