Ann: POSCO Signs Binding Agreement to Invest US$40m in Black Rock, page-31

I have been making the same observations and positions for ~ 10 years on HC and as of today, no graphite project has come online based solely on being an EV OEM battery graphite supply do not devolve into labeling or name calling as you have chosen, but Benchmark and Fastmarkets are both pontificating the same EV hype that has yet to materialise and both keep moving the forecast needle with each failed forecast.

Being obtuse concerning the graphite powder market from actual graphite industry experts and not relying only on Benchmark or Fastmarkets of which not one of their staff have every worked in or direct technical sales in the graphite powder industry. Both conduct research and visit with Chinese traders, processors, or suppliers for their market or pricing intelligence. No graphite production company outside of China would ever share pricing, market, or customer information with Benchmark, Fastmarkets, or any other third-party marketing firm as that information is proprietary and most likely specific that information is protected by and NDA.

Take care in filtering hyper-unrealistic information or forecasts that appear to be to good to be true, hence graphite demand has yet to meet demand expectations. If demand did cross paths with reality, then all of the natural graphite projects sitting on the sideline would have come online years ago.