Meh, it's a balancing act..
Nicole price improves, all the mothballed mines suddenly put a ruler across how cheap they can operate, start investing to ramp back up, supply looking forward looks large, and prices retreat... projected reopening of mines dry back up, price drifts back up... rinse, repeat.
Meanwhile, cobalt is still needed in much larger volumes and price should recover just fine... even with some nickel mines ramping back up.
Benchmark Minerals conference, page-129
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