It seemed graphite — the anode material used in EV batteries — was set to follow in lithium’s wake having been ignored by investors throughout last year’s lithium-buying mania.
Prior to this, bullion has been consolidating around the $1,950 level as investors wait for a clearer outlook on the Federal Reserve’s monetary policy path.
Automakers argue they need more leeway on the rules because it’s currently impossible to produce EV batteries without inputs that have at least some Chinese ownership, while US materials producers contend the domestic supply chain won’t succeed if China’s playing a role.