Charted: The most expensive battery metals

By Visual Capitalist – Elements

2022.11.22

The five most expensive battery metals

Battery metal markets are booming on the back of rising electric vehicle sales.

Supply chain issues and a global rush to secure supplies have skyrocketed battery metal prices over the last year. And if battery metals remain expensive, the decade-long freefall in lithium-ion battery prices might come to a temporary halt.

The above infographic highlights the five most expensive battery metals as of November 2022 using prices from Shanghai Metals Market.

How much do battery metals cost?

Cobalt was by far the most expensive battery metal until late 2021, which was when lithium prices hit an inflection point, heading towards all-time highs.

A single tonne of lithium carbonate, one of the refined forms of lithium that’s used in batteries, now costs over $75,000, up from around $6,500 at the beginning of 2021.