Just in case people missed it, the initial 40% requirement increases by 10% per year. And currently, the only free-trade countries that supply it are Canada and Australia. 15% of current demand. So technically, nickel prices should skyrocket in the US market as long as EVs keep on gaining traction and this law is upheld.
Hopefully a similar law regarding motors/magnets takes effect. But I suspect that would take longer due to China's monopoly on the overall space and the fact that it takes years to establish mines.
Just in case people missed it, the initial 40% requirement...
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