European, US demand have become key drivers of metal prices – Trafigura chief
Trafigura executive chairman Jeremy Weir told the FT Commodities Asia Summit on Wednesday that prices had previously been mainly driven by Chinese demand.
The increase, which will bring total annual sales volumes to 13.8 million tonnes, comes on top of the half a million tonne output increase the company announced on June 7.
European carmakers are hoping to cut dependence on Asian cell suppliers as they roll out all-electric models to meet stricter emissions targets in the EU.