SQM via AFPLast year was the year of electric vehicles -- global sales are likely to have hit a record, in turn pushing up battery demand. Adding to the geopolitical risks for global auto makers is the supply chain concentrated in a country determined to make itself the EV capital of the world: China. Other battery materials from nickel to cobalt have also been rising and could remain elevated as new supply will take time to come online. Shortages are adding to already substantial concentration risks regarding China's dominance in the EV supply chain. Tesla, for example, signed an agreement with Australian miner Syrah Resources this month to secure graphite supply.

Source: Wall Street Journal January 24, 2022 03:15 UTC