CLA Technical Analysis, page-231

lol, Wood Mackenzie is the idiot that put out the report recently claiming there was going to be an oversupply.
"Prominent commodities research house Wood Mackenzie this week released a report on battery materials that forecasts a decline in the price of cobalt and lithium this year which would turn into a rout from 2019 onwards."

http://www.mining.com/new-study-rips-cobalt-lithium-price-bulls/

The quote you heard was from Oct last year, when they were singing a different tune.
(It is also where you got that map, I assume)
https://www.bloomberg.com/news/arti...-on-one-african-nation-avoiding-chaos-of-past

edit:
In jan, they were still very bullish on cobalt.
http://www.miningweekly.com/print-v...books-secure-energy-metal-supplies-2018-01-17