Prices for key metals used in electric-vehicle batteries have diverged, with lithium holding strong on brisk demand and tight supply while nickel and cobalt start to fall out of favor in the crucial Chinese market.
All of these materials are used in cathodes. These components make up about 40% of the cost of a battery cell, which itself accounts for a sizable chunk of electric vehicle production expenses.
Lithium remains a major contributor to these costs. A benchmark price for lithium carbonate stood at about 470,000 yuan ($70,000) per ton as of Monday, according to Argus Media.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.