Japanese firm Hitachi Chemicals has bought the majority share of lead-acid battery maker Fiamm.
The Italian company’s board of directors chose to sign an agreement allowing Hitachi to obtain 51% of the shares of FIAMM Energy Technology.
Chinese battery producers have begun raising battery prices due to the rocketing cost of lead, which has climbed above ¥21,000 ($3,051)/ tonne, according to Shanghai Metal Market data.
Lead values jumped ¥5,600 ($814)/ tonne in November— with prices hitting the highest since April 28, 2008.
A $2 ‘tax’ could be levied on every new lead-acid battery to help the pay for the cost of the cleanup of lead-polluted soil in California.
Manufacturers and customers buying lead-acid car batteries will have to pay $1 each under legislation sent to Governor Jerry Brown— who is set to make a decision on September 30th.
Sales of lead-acid batteries in North America rose 15.2% in December 2013 following the extended period of cold weather.
Shipments of automotive batteries in December 2013 reached 12.2m, which is 15.2% higher than the figure for November.
Global consumption of lead-acid batteries is leading to an increased demand for lead. A study by the International Lead Zinc Study Group (ILZSG) suggests that lead demand will increase 5% for the year 2013 and a further 4.6% in 2014.