Yes, the reality is that EV battery sizes are up 10% YOY...

Yes, the reality is that EV battery sizes are up 10% YOY globally and if you put that on top of the global EV sales growth rate of 30%+ YOY, you get EV cells sold in GWh up almost 50% YOY (which is more relatable to battery chemicals demand then just number of cars). Additionally, ESS is likely going to get near 100 GWh in 2023 which is over 10% of lithium demand from EV sales, so getting to a significant base now. The key is that ESS is growing MUCH faster than EVs at over 150% YOY in 2023.

So, demand is most definitely there. Lazy analysis (not just in lithium) always resorts to the 'disappointing demand' line when prices drop. It's more to do with lot of supply come online when we were at $80/kg and everything made a profit. The Chinese stocked up inventories in panic buying thinking we were in a long-term shortage.

Anyhow, don't want to derail the thread. Something seems to be brewing for AGY.