Seems governments are getting more aggressive on China. From what I am reading the car/ battery industry is getting a clear message from the US government.
Last week they finalised the details of the IRA they conceded they had to give a 2 year extension/exemption on graphite such is China’s dominance but there are conditions, to get it companies need to demonstrate they are taking steps to secure alternative supply in other words off take agreements, investment etc.
They made it clear they would not consider other materials, we now see further tariffs or protections if you like.
So the message is we have done our part it’s your turn and I think the big money will start to move now that they have absolute confirmation of the IRA.
What that means for nickel I am not sure short term but as the % of compliant materials increases over the next few years along with increased demand it’s fair to assume it’s not going backwards.
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