The discussion was about a supply surplus. At the current time there is a shortage in refining capacity. The latest claims are that this may be overcome to meet the expected demand. This remains to be seen. The bigger problem is cobalt. Unless alot of cobalt comes on stream, this will slow EV pickup - in turn causing an oversupply of....you guessed it
There is ongoing research attempting to alter battery chemistry and incorporate a higher ratio of nickel however, cobalt is necessary for the safest, most stable batteries.
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