LIT - EV vehicles outlook uplift demand for metals

As the car companies moves towards electrification and away from fuels, demand for metals like nickel, aluminum and iron are expected to increase by as much as 14x by 2030.“The global shift away from carbon, boosted by ostensible Chinese environmental concerns as well as Biden’s recent win, is driving capital to sectors involved with or likely to benefit from the focus on green or renewable resources,” said Tai Wong, head of metal derivatives trading at BMO Capital Markets. “This focus is likely to improve supply over time.”This increase in demand can be directly linked to the outlook for electric vehicles over the next ten years, with vehicle battery output expected to rise by tens of millions.Other metals important to the creation of electric car batteries, such as lithium and graphite, are also expected to rise substantially in demand by around 9-10 times by 2030.Electric vehicle batteries will stimulate demand for a

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EV vehicles outlook uplift demand for metals