EVs and smartphones look better in June
EV volumes bounced strongly in June with each major region realising a significant month-on-month recovery. China and Europe had their second-highest ever sales and US sales were also robust. The recovery in EV sales is particularly telling given that global auto sales remain in the doldrums with negative growth rates in key regions. Chinese mobile phone output, which we see as a key indicator of lithium-ion battery demand, also saw positive growth rates for the third consecutive month. Further growth will be positive for growth in consumer batteries. For more detailed information and discussion refer to Battery Materials Review.