Battery Metals Lose Luster as Surge in Supply Outpaces Demand

(Bloomberg) — In the fast-moving world of battery metals, 2022 already feels like a bygone era. Back then, prices were soaring, automakers were fretting about long-term shortages and Elon Musk was describing lithium costs as “insane.”

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A year-and-half on from the Tesla Inc. CEO’s comments, the market dynamics for metals crucial to the energy transition have flipped. Lithium has tumbled almost 70% so far this year, while nickel has plummeted around 40%. Cobalt too…