The EV battery metals index will have a record year
A strong last quarter sets the index on course for his best performance ever.

The EV Metal Index, which tracks the value of battery metals in newly registered electric cars (including hybrids) around the world, fell from its all-time high in September, but still saw its third-best month ever in October. The index was boosted not only by the overall increase in EV sales during the month of 71% year-over-year, but also by the relative outperformance of all-electric cars and plug-in hybrids, where total battery capacity was 122% year-over-year Rose to nearly 14,000 MWh last year, according to Adamas Intelligence, which is tracking EV battery demand for chemistry, cell suppliers, and capacity in over 90 countries. The use of battery raw materials fell in October compared to the record-breaking tonnage of the previous month, according to the data from Adamas, but the use more than doubled compared to the same month last year. Tesla was number one in terms of battery capacity deployed, which accounted for nearly one in five MWh that hit the streets during the month. Tesla also led the way in the use of lithium, nickel and graphite, with Volkswagen outperforming the Californian automaker in the amount of cobalt used in its electric vehicles after strong sales of the ID.3. The modest spike in prices for the four commodities that make up the index, provided by Benchmark Mineral Intelligence, a battery supply chain and price reporting company, was insufficient to offset the decline in commodity use, resulting in a decline of the index by 10.5% compared to the previous month to $ 281.6 million. Compared to the same month last year, the EV metals index rose over 80% and is likely to top last year's record at $ 1.8 billion so far in 2020 as European electric vehicle sales reach a turning point and the Chinese auto market continues to grow.





