Mumbai, 08 Oct (Commoditiescontrol): The demand for metals like copper, essential for electric vehicles (EVs), remains resilient despite a recent slowdown in EV sales. Estimating precise demand, however, is difficult as the market evolves. While growth in EV sales has been impacted by challenges such as limited charging infrastructure and resale concerns, overall demand for metals remains robust, driven by regional variations.
Battery EV and plug-in hybrid sales rose 32% last year to 13.63 million units, though the first quarter of this year saw a 25% decline, followed by a 22% rebound in the second quarter.
Copper is integral to EV wiring and batteries, which often include lithium, nickel, and cobalt. Advances in lithium iron phosphate (LFP) battery technology have improved their range and charging speed, particularly in China, though nickel cobalt manganese (NCM) batteries still dominate in Western markets due to their higher recyclability.
Industry players are focusing on core areas like copper, zinc, and nickel while cutting less profitable ventures to maintain competitiveness.
(By Commoditiescontrol Bureau; +91-9820130172)
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