Lack of Russian rare materials prompts battery price rises | Japan News | NewsRme

Global supply chain disruptions and the Ukraine crisis are causing shortages of rare or precious commodities, requiring firms to adapt. Kanagawa Prefecture-based Envision AESC Group has requested consumers to accept price rises. Kawasaki Heavy Industries may move from Russian titanium to other suppliers. Rising resource costs and supply disruptions might impact several businesses.
Envision AESC urged Nissan Motor and other automotive battery purchasers to accept 10% pricing hikes this spring. The move was made because prices for lithium hydroxide, a primary element in lithium-ion batteries, were going up because of rising demand and growing worries about supplies from Russia, which supplies 6 percent of the world's lithium hydroxide exports.
EV batteries are short on high-purity lithium. Industry officials say lithium costs have skyrocketed since last year. Nickel and copper prices are increasing. This pressures battery producers to raise prices.




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