As South Korea grapples with the supply shortage of urea water solution triggered by China’s export curbs on fertilizers including urea, fears are growing that local industries in the secondary battery sector may be the next that could face a material shortage crisis due to their hefty reliance on China for most critical materials.
According to a study by Korea International Trade Organization (KITA) on Korea’s import reliance on China for parts and materials between January and September this year, a majority of most critical commodities are exposed to China-led risk.
The study showed that 99 percent of manganese imports rely on China, 97.4 percent of aluminum cable, 94.5 percent of magnesium scrap, 93.8 percent of zinc coated steel sheet, 87.7 percent of graphite, 82 percent of electrical steel, and 76.9 percent of individual device chip component.
Among them, magnesium and graphite are the most important raw materials for a secondary battery. Manganese is used in cathode materials that form a secondary battery. The element is reserved in various parts of the world including South Africa, Brazil, and Australia, but China has the world’s biggest reserve.
According to Korea Mineral Resources Information Service, China produced 31.67 million tons of manganese last year, nearly double 16.02 million tons of the world’s second largest manganese producer South Africa.
Demand for manganese is anticipated to continue to surge as global electric vehicle manufacturers like Tesla...
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