Overview

• Prices for lithium, cobalt, graphite, and nickel have dropped significantly since 2023, despite sustained demand for EV batteries.
• Record production in China, Indonesia, and the Democratic Republic of Congo has driven the price decline, consolidating their market dominance.
• The combined market share of these three nations rose from 73% in 2020 to 77% in 2024, heightening supply-chain vulnerabilities.
• Experts warn that disruptions like trade barriers or technical failures could leave half of global battery-metal demand unmet by 2035.
• The EU and Germany are advancing policies to diversify supply, ramp up domestic processing, and expand recycling to mitigate risks.