War Drives Up Nickel Prices, Essential Metal for Electric Car Batteries

Written by Roberta Souza

Published on 11/03/2022 at 13:57

Updated on 13/03/2022 at 21:21

Foto: Reprodução Google Imagens/ InstaCarros

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The Metal Used In The Production Of Electric Cars Was Traded At The London Metal Exchange At US$ 101,365 Per Ton. The Price Increase Of Nickel Occurred Due To The War In Russia Against Ukraine

On Tuesday (9), nickel was traded at US$ 101,365, approximately double the historical high that occurred in 2007. The increase in the price of the metal used in electric car batteries occurred due to the war in Russia, which is the third-largest producer of nickel in the world.

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Despite being related to small coins, nickel is a semiprecious metal, like copper and titanium. At the current quotation, caused by the conflict between Russia and Ukraine, nickel is worth about four times the same weight in copper and ten times in titanium.

Theoretically, the war between Russia and Ukraine would favor the purchase and use of electric cars, as Russia is the largest supplier of gasoline in continental Europe. However, Europe does not approve of dependence on a country with Russia’s foreign policy. Dependence is the reason why sanctions cannot be absolute.

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Battery Production For Electric Cars In The European Union Could Be Affected

The economic sanctions against Russia were responsible for the increase in the cost of raw materials. According to Rystad Energy, battery manufacturers are increasingly facing difficulties in dealing with rising mineral prices.

The adoption of iron-lithium phosphate-based chemistry is an alternative to nickel in the production of electric cars. Iron-lithium phosphate batteries can be charged to 100% capacity and are less prone to thermal runaway. However, there is a downside: poor performance in colder climates.

War Drives Up Nickel Prices, Essential Metal for Electric Car Batteries

The Metal Used In The Production Of Electric Cars Was Traded At The London Metal Exchange At US$ 101,365 Per Ton. The Price Increase Of Nickel Occurred Due To The War In Russia Against Ukraine

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Battery Production For Electric Cars In The European Union Could Be Affected

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War Drives Up Nickel Prices, Essential Metal for Electric Car Batteries

The Metal Used In The Production Of Electric Cars Was Traded At The London Metal Exchange At US$ 101,365 Per Ton. The Price Increase Of Nickel Occurred Due To The War In Russia Against Ukraine

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Battery Production For Electric Cars In The European Union Could Be Affected

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