Copper market is massive compared to the other EV metals.
It will need a lot of EV vehicles produced to dent the supply/demand and BHP and other majors have huge expansion plans already being worked on to come online 2019/2020 from Chile so I think $3 is a fair estimate going forward.
Regarding cobalt it could end up being its own worse enemy.
There has been and is batteries which are much cheaper (due to no cobalt or nickel) and claim performance as good as what’s out there. This remains to be seen but they have been fully tested and discussions are ongoing with end users. If cobalt keeps going up and it’s affecting the end price quite a bit auto makers will simple say right stuff ya we will find another way imo.
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