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The rising demand for lithium, cobalt and magnetic rare earths in the new energy vehicle industry is affecting the price of copper sulfide

Since the beginning of this year, domestic and foreign policies have increased, and the world major new energy vehicle markets have grown strongly, and the penetration rate has continued to rise.

In the domestic market, since the second half of last year, my country new energy vehicle market has maintained rapid growth. The latest data from the China Automobile Association shows that in June, my country new energy vehicle production and sales were completed at 248,000 and 256,000, respectively, an increase of 1.3 times and 1.4 times year-on-year. From January to June, my country new energy vehicle production and sales both exceeded 1.2 million, completing 1.215 million and 1.206 million respectively, a year-on-year increase of both. At present, the cumulative sales of new energy vehicles in my country have been at the same level as in 2019. The penetration rate of new energy vehicles in my country has increased from 5.4% at the beginning of this year to 9.4% in the first half of this year. Among them, the penetration rate of the new energy vehicle market in June exceeded 12%.

In the European and American markets, according to data released by Marklines, sales of new energy vehicles in Europe grew strongly from January to June, with a year-on-year increase of 55.1%. The number of registrations in the seven European countries in June was 191,000, +158% year-on-year, +34% month-on-month, and a penetration rate of 19%. The registered volume of pure electric vehicles is 106,000, +469% year-on-year, +49% month-on-month, with a penetration rate of 11%, accounting for 56% of new energy vehicles.

On the whole, although the first half of the year was affected by the shortage of automotive chips, the output of the entire industry is still growing. From the third quarter, the problem of chip shortages is expected to be greatly alleviated. Superimposing the second half of the year is the traditional peak season for car sales, the production and sales of new energy vehicles will further increase Consolidation, the industry chain will continue to maintain a high boom,

Demand for lithium, cobalt, and magnetic rare earths has been boosted across the board. New energy vehicles are very important downstream of batteries and magnetic materials. In 2020, about 62% of lithium carbonate will be used in lithium-ion batteries, about 53% of cobalt will be used in batteries, and 11% of cobalt will be used in magnetic materials; and about 12% of high-performance NdFeB magnetic materials will be used in permanent magnets for new energy vehicles For motors, high-performance NdFeB magnetic materials account for about 20% of NdFeB production, and about 43% of rare earths are used in NdFeB. Therefore, the high growth in the production of new energy vehicles will undoubtedly significantly drive the consumption of lithium, cobalt, and rare earth magnetic materials.

The rising demand for lithium, cobalt and magnetic rare earths in the new energy vehicle industry is affecting the price of copper sulfide

Affected by New energy vehicle production and sales continue to grow at a high rate, the copper sulfide market is changing rapidly. These changes are indicators of market growth.This year-on-year upward trend in the market indicates that the next November 2020-2026 will show an oval but steady growth.If you are looking for copper sulfide or buy copper sulfide in bulk,please send an email to: sales@ozbo.com

The price of copper sulfide continues to be affected by factors such as market growth momentum,various opportunities and challenges.However,during the forecast period from 2020 to 2026,the global copper sulfide sales market is expected to continue to be above average.The growth rate will continue to increase.It is expected that from today to next week,the price of copper sulfide will increase to a certain extent.  

Due to changes in consumer demand,import and export conditions,and various investigations on the development of copper sulfide,the cost of copper sulfide is constantly changing.Taking into account the current market macroeconomic parameters, value chain analysis,channel partners,demand and supply,the cost of copper sulfide will also be affected to a certain extent.It is estimated that the cost of copper sulfide will increase slightly from today to next week.

However,Ozbo.com provides high purity Nano copper sulfide with steady price.In order to feedback to old customers,the company is still in full operations to provide copper sulfide with competitive price.said Olina,sales manager of Ozbo.com.

About Ozbo.com

Ozbo.com (aka.Tanki New Materials Co.Ltd.) is a trusted global chemical material supplier & manufacturer with over 12 years experience in providing super high-quality chemicals and Nanomaterials. As a leading nanotechnology development and copper sulfide manufacturer,Tanki New Materials Co.Ltd dominates the market.Our professional work team provides perfect solutions to help improve the efficiency of various industries,create value,and easily cope with various challenges.If you are looking for copper sulfide, please send an email to: sales@ozbo.com  

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