Platinum Contributing Member steve from amherst Posted June 3, 2018 Platinum Contributing Member Share Posted June 3, 2018 World's Largest Metals Exchange Takes Aim At Booming EV Market By Safehaven.com - Jun 02, 2018, 6:00 PM CDT Demand for metals used in Li-ion batteries has been surging, thanks to a booming electrical vehicle, or EV, industry as well as rapid growth in the global electronics industry. And now it’s about to get easier to place your bets on these booming metals. The London Metal Exchange (LME), the world's largest metals exchange with a $12.7 trillion annual turnover, plans to offer new lithium, manganese and graphite futures contracts to capture the huge opportunity offered by the EV industry. LME has an 18-month timeline for the new contracts. The giant exchange is alhttps://oilprice.com/Alternative-Energy/Renewable-Energy/Worlds-Largest-Metals-Exchange-Takes-Aim-At-Booming-EV-Market.htmlso exploring additional contracts for already tradeable copper, nickel, cobalt and aluminum as well as gold and silver. Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted June 3, 2018 Share Posted June 3, 2018 Interesting for sure, thanks for posting @steve from amherst Quote Prices of safe-haven metals have been going nowhere for nearly a year as the kind of hyper-inflationary environment that was expected from a massive wave of global QE programs has failed to materialize. Meanwhile, an improving global economy has given a boost to equities and bonds at the expense of precious metals. Maybe it's time for investors to shift their attention to base and industrial metals instead. And few sectors look more promising than battery metals, thanks to a booming electrical vehicle market. EV sales have really take off over the past two years, surpassing 1 million for the first time in 2017 after growing an impressive 56 percent. EV sales are expected to hit 4 million by 2020, a healthy 58.7 percent robust annual growth. Bloomberg Energy Finance has predicted there will be 100 million EVs on the roads by 2040, or about 1 in every 3 vehicles. Falling manufacturing cost of Li-ion batteries is a key reason why EVs are increasingly becoming affordable and starting to approach prices of conventional gasoline vehicles. The EV powertrain takes up a huge chunk of the total costs of an electric vehicle. The ongoing green energy drive by many nations across the globe is also playing a big part. Related: Oil Slides As Saudis, Russia Consider 1 Million Bpd Output Boost Norway plans to phase out the internal combustion engine by 2025 and EVs already account for 40 percent of the country's market share. Other countries with similar plans in the crosshairs include Netherlands, France, Slovenia, Scotland and Ireland as well as U.S. cities such as Los Angeles. Demand for metals used in Li-ion batteries has likewise been surging--lithium is up 45 percent in the year-to-date; manganese +10 percent, cobalt +54 percent and graphite +57 percent. Nickel prices have, however, declined 23 percent due to increased supply from Indonesia and muted demand from China. https://oilprice.com/Alternative-Energy/Renewable-Energy/Worlds-Largest-Metals-Exchange-Takes-Aim-At-Booming-EV-Market.html Quote Link to comment Share on other sites More sharing options...
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