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Ukraine war

Battery makers seek price hikes on lack of Russia rare metals

Ukraine war disruption pushes lithium, titanium, palladium to new highs

Imports of Russian palladium have plunged as more companies look for other suppliers.   © Reuters

TOKYO -- Disruptions to global supply chains and the war in Ukraine are creating shortages of rare industrial metals and gases, forcing companies that rely on them to respond.

Japan's Envision AESC Group, a Kanagawa Prefecture-based maker of lithium-ion batteries for electric vehicles, has asked its customers to accept price hikes. Kawasaki Heavy Industries is considering switching from sourcing titanium from Russia, the top producer of the metal, to other suppliers. Rising prices for resources and supply disruptions could have far-reaching effects for a range of industries.

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