![]() ![]() JPMorgan predicted copper ending the year lower, speculating tightness in the market is beginning to unwind.Īnnual vehicle handovers surged to more than 936,000 in 2021, up 87 per cent from the previous year’s level. It was more bullish on nickel, but still saw prices ending the year no higher than current levels. Morgan Stanley commodity strategists said copper and lithium were among the commodities it was most bearish on, in research published this week. Lithium and other key battery materials could experience price falls this year. The prices of copper, nickel and lithium carbonate are sitting at or near record levels following a year which saw demand for battery components soar, while production struggled to keep up, as plants were either mothballed or overrun by coronavirus restrictions.īut with the global economy emerging from its COVID-19-induced hibernation, suppliers are now in a better position to meet demand, meaning near-record prices are unlikely to last. Battery metals prices are set to fall from almost stratospheric levels, analysts say, despite demand for electric vehicles smashing expectations, as the easing of supply bottlenecks brings key commodity markets back into balance.
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