The second half of 2023 has officially begun, meaning it’s time for us to reflect on the commodities market so far this year.
In the first half of the year, lithium increased by 10.81%, making it the best-performing commodity and one of only two that recorded a positive return, the other being gold. Every other commodity that we follow lost ground during the six-month period as global manufacturing activity receded and China’s economy, historically a major demand engine, delivered a disappointing rebound after ending three years of pandemic lock-downs.
So why was lithium up in the first six months of 2023? In a word: batteries. The lightweight metal, the top performer in 2021 and 2022, is a key component of the boom in electric vehicle (EV) sales.
Alkemy Capital Investments plc (LON:ALK, FRA: JV2) is focussed on developing projects in the energy transition metals sector. Alkemy’s wholly-owned subsidiary Tees Valley Lithium (TVL) is developing a state of the art lithium hydroxide plant at Teesside, UK. TVL is Europe’s largest independent and sustainable lithium hydroxide producer.