Critical Minerals | Daily Chemical Reactions

Optimistic Battery/EV Demand Investments Inflate Critical Mineral Demand Today; Copper Has Upside
May 1, 2024
Commodities Mentioned:
Copper, Lithium, Aluminum, Cobalt, Nickel, Rare Earths, Hydrogen, Batteries, EVs, Hydropower, Iron, Battery Storage
Companies Mentioned:
Freeport-McMoRan, Albemarle, BHP, Anglo American, Codelco, Rio Tinto, Ecobat, Nissan, Ascend Elements, Asahi Kasei, Green Li-ion, Polestar, Tesla

Monthly Update – Critical Minerals – Daily Chemical Reactions

Optimistic Battery/EV Demand Investments Inflate Critical Mineral Demand Today; Copper Has Upside

Key Findings

  • General Thoughts: The C-MACC Clean Energy Mineral Index has increased ~10% YTD, following a ~53% YoY drop in 2023, and mineral producer outlooks are unsurprisingly extrapolating YTD improvement.
  • Critical Mineral Supply:  We discuss BHP merger ambitions with Anglo American and see the driver as optimism over copper more than other metals: transmission investments will drive copper demand.
  • Clean Energy Components & Recycling: We discuss battery price trends, battery materials in terms of energy storage duration, and battery recycling, and we debate actions to spur the European market.
  • Critical Mineral Macro Demand: We follow our electric vehicle (EV) focus in the last issue of this report to focus on battery storage, its investors by company and region, and how it fits into the electrical grid.

Exhibit 1: The C-MACC Clean Energy Mineral Index Has Increased ~10% YTD, Following A ~53% Decline YoY In 2023.

Source: Bloomberg, C-MACC Analysis, May 2024

See PDF below for all charts, tables and diagrams


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