Carmaker equities give up pre-pandemic gains, battery sector sentiment softens

The plummeting of share prices among companies in the battery supply chain due to the 2019-nCoV coronavirus pandemic is reversing the gains achieved after China's announcement of its policy on electric-vehicle subsidies, indicating weak sentiment toward the market.

Lithium and cobalt commodity prices have largely been resilient to volatility since the outbreak of the coronavirus pandemic.
Benchmark cobalt prices actually continued to edge upward until this week, when prices have moved down in the past three assessments, with sellers willing to accept lower bids.
The resistance that the cobalt price previously showed to any downward price pressure was because many market participants believed that prices were underpinned by fundamentals, after Glencore announced that it would mothball its Mutanda plant in the Democratic Republic of Congo.

Fastmarkets' daily assessment of the price for cobalt, standard grade, in-whs Rotterdam, was $16.30-16.70 per lb on March 19. This was down from $17.00-17.30 per lb on March 13, but up from $16.40-16.90 per lb in late January,...

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