Add Italy to the mix (increase by 107% in the month, with a market share of 13%) and more importantly the UK (286.8% more than a year ago) reasons to be optimistic are clear. Car sales are the leading indicator of what will happen with spod/brine demand. If sales are being made, inventories will be swallowed up.
Just look at the graph and extrapolate:
How much lithium chemical need (or cars equivalent for a 660kWh battery - momentum like this would also help
The Edmonton Transit Service (ETS) in Edmonton, Canada today has unveiled the first batch of long-range 40-foot Proterra Catalyst E2 Max electric buses, equipped with massive 660 kWh battery packs.
For even greater perspective remember what Tesla will need:
The turn around momentum has arrived. As long as numbers keep increasing like this MoM and YoY spod inventories (at converters) will be gone by end of year. Even if a balanced spod price of $650 can be achieved with offline supply restarting that would be a profit margin of $200-250. Do the maths on what MC that would translate to. LOL a lot higher than we are today.
The big money shorts have covered. Those remaining must love playing with fire.
GXY Price at posting:
$1.16 Sentiment: Buy Disclosure: Held
