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PARIS, July 15 (Reuters) - Europe needs a system to set prices for critical minerals needed for the energy transition that is not dependent on China, which dominates much of the global sector, the head of an EU-funded group said.
Oversupply and weak prices of materials such as lithium, cobalt and rare earths are dampening cash flows of Western start-ups, making it difficult to compete with China, companies have said.
"Europe should have a critical materials platform that has a price-building mechanism that reflects the supply and demand situation in Europe," Bernd Schaefer, CEO of EIT RawMaterials, told Reuters.