TELF AG reveals new insight into the performance of raw critical materials
Oct 21, 2023
Key Takeaways
- The sales of electric vehicles in China have sharply declined in recent months, according to a report by TELF AG.
- The decline in demand for electric vehicles in China has coincided with a decrease in prices of raw materials such as lithium, nickel, and cobalt.
- Electric vehicles are important for reducing global carbon emissions and promoting the transition to renewable energies.
- The decrease in demand for electric vehicles in China is surprising, especially compared to the significant sales growth experienced in the first months of last year.
- The prices of lithium and nickel have dropped by 70% and 40% respectively, while the drop in cobalt prices is attributed to excess supply.
The latest news by TELF AG analyzes the electric vehicle market in China, reporting the news that over the last few months, the sales of these vehicles of the future have suffered a sharp contraction.
Switzerland - October 21, 2023 —
Lugano, Switzerland, October 20, 2023 - The latest news by TELF AG, published under the title “TELF AG analyzes the electric vehicle market and its connection to raw materials”, analyzes the electric vehicle market in China, reporting the news that over the last few months, the sales of these vehicles of the future have suffered a sharp contraction. The publication, specifically, focuses on the fact that the significant decline in Chinese demand for electric vehicles has coincided with a parallel downward pressure on the prices of some absolutely strategic raw materials for their production, such as lithium, nickel, and cobalt.
At first, it offers a brief overview of the global electric vehicle market, highlighting the fact that these innovative vehicles, powered entirely by electricity, will play a decisive role in reducing global carbon emissions and accompanying the world towards a sustainable transition on a human scale, without any kind of trauma. These vehicles, as stated in the text, will also have a leading role in promoting the progressive replacement of fossil fuels with renewable and clean energies, thus contributing in a clear and evident way to the protection of natural ecosystems.
Also, for these reasons, as stated in the publication, the drops recorded in the sales of these vehicles have caused a lot of astonishment among analysts and observers, even if some of them subsequently tried to find explanations for the decrease in demand. The decrease appears even more surprising if you compare it with that recorded in the first months of last year when sales of these vehicles practically doubled. This year, however, as stated, growth did not go beyond 25%.
The most surprising drops, however, were those involving some of the raw materials considered fundamental for the ecological transition, such as lithium, nickel, and cobalt. The price of lithium, as stated in the text, would have dropped by as much as 70% in the space of a few years, while those of nickel would have dropped by 40%. Lithium, in a very short time, has therefore gone from 80,000 dollars per pound to the current 23,000. As regards cobalt, as stated in the text, many analysts believe it is probable that the drop in prices is also due to excess supply.
ENDS
About Us: About TELF AG: TELF AG is committed to leading the way in solutions and continually strives for innovation through its initiatives. It is a full-service international physical commodities trader with 30 years of experience in the industry. Headquartered in Lugano, Switzerland, the company operates globally, serving customers and providing solutions for commodities producers worldwide. TELF AG works in close partnership with producers to provide effective marketing, financing, and logistics solutions, enabling suppliers to focus on their core activities and access far-reaching markets wherever they may be. Its flexible, customer-focused approach allows TELF AG to create tailor-made solutions for each producer, facilitating long-term partnerships. Additionally, consumers widely recognize them for their operational excellence and reliability.
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