....Na-ion batteries is China's contingency plan against a higher lithium price in the future. It may not have the same technical features but that's where China R&D will close the gap over the coming years and they are well ahead of the curve.
....This is why Lithium is not Iron Ore. Steel is hard to replace, Lithium less so. The threat of an alternative substitute is enough to suggest that it won't be the same as iron ore.
1. Lithium miners are found in every continent, while Australia account for largest supply of iron ore
2. EVs account for the largest % use of lithium, so what goes into the EV battery in the future matters to the future growth of lithium- EV battery chemistry is evolving
3. EV battery makers are vertically integrated with their lithium mines, steel foundries are not
4. Proximity of lithium mines supply to EV production facility is key, that is not the case with iron ore
5. Increasing concern over lithium's fire hazard in battery use
6. Lithium has been geo-politicised, iron ore not so
7. Various ways to extract/produce lithium result in different cost curves, making lithium more cost sensitive
8. Lithium industry is far more competitive at least at this point with many players -with iron ore, Australia & Brazil both have a commanding market share with China and India a distant 3rd and 4th. Australia leads in lithium production today but in due time, Chile, Bolivia, Argentina, US & Canada, Serbia, in addition to China and Africa would start diluting Australia's lead.
