Metals &Mining Alert:Daily prices and news,EV wave expected to accelerate

Industrials (/lb): aluminum $0.86(+0.9%), copper $2.52(+0.3%), lead $0.96(-2.3%), molybdenum $7.82(+0.0%); nickel $4.23(+0.0%); zinc $1.16(-1.4%);Precious (/oz): gold $1,228(+0.3%), silver $16.47(+1.0%); Steel (/mt): ChinaHRC $465(-0.1%), SHFE Rebar $435(-0.9%), MB Scrap Index $267(-0.3%);Bulks: iron ore (/dmt) $61(-0.7%), coking coal (/mt) $169(-6.1%), freight (BCI)1,725(+1.8%); Energy: Brent (/bbl) $50.84(+0.1%), WTI (/bbl) $47.84(+0.0%),natural gas (/mmBtu) $3.42(+1.4%), thermal coal (/t) $74(+0.4%).

    India and China roll out plans to accelerate adoption of electric vehicles (EV).International Energy Agency (IEA) expects to see 30m EV’s on road by 2025and 150m by 2040(vs. 1.3m in 2015). India and China rely on imported oil andsuffer from air pollution, so EV’s are expected to offer economic andenvironmental solutions. China plans to have ~20% of annual auto sales fromEV which translates to sales of 7m units/pa. India aims to move to 100% EVsales by 2032, or 10m/pa. France’s new President, Macron aims to eliminatediesel-powered vehicles by 2040. Despite timing uncertainties, directionalchange towards EV adoption should boost demand for lithium and cobalt.(Mining.com, DB)