then to add:
Note the NMC for autos batteries
"Many of these same metals experienced a price pullback during 2018, leading to sentiment that does not take into account the faster-than-anticipated adoption of electric vehicles and supporting infrastructure and what this adoption means for battery metal growth.
There has also been confusion regarding battery chemistry and battery lifecycles. I recently wrote a guest article for the 121 Group’s mining publication (The Assay), which illustrates the fact that, with the single exception of Tesla, the entire auto industry has settled on a battery chemistry. That chemistry is Lithium Nickel Manganese Cobalt (NMC). "
"Meanwhile, Macquarie Group's top pick for the next 12 months was nickel, which it said would climb over 20% to $14,500/t. Nickel is an energy metal with a lot of potential price runway ahead.
It is believed to have seen a shortfall in 2018, resulting in an inventory drawdown of around 200,000t. That was the result of supply topping out at 2.2 million tonnes and demand was 2.4 million tonnes in 2018.
Glencore estimates demand growth in nickel reached 7% this year, the highest of all its commodities, and it also believes new supply next year will be limited to 200,000t. The major commodity trader recently said the inventory level of about 66 days would have to be dealt with first, before prices would meaningfully take off in 2019."
source
https://www.cobalt27.com/blog/energy-metal-outlook-for-2019/
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