Yeah, still good money. A few things coming together on the macro front,
1) As mentioned above, spot price approaching the high end of the cost curve now = production reduction
2) Yearly peak in EV sales is also end of year = more demand
3) Technically, the double bottom is a possible signal for lithium restocking. Supposedly lots of destocking as occurred as few want to buy/restock with depreciating prices thinking they can get it cheaper later in China.
4) Battery cell prices dip below $100/kwh thanks partly to reduced commodity prices = lower EV costs
5) Oil prices up again remind consumers how costly ICE vehicles are
Could obviously go different to last June if there really is way too much supply still out there but from what I've been reading, supply/demand is still pretty tight (likely why contract prices and prices outside of China are a lot more resistant). We will see soon enough anyhow.
Yeah, still good money. A few things coming together on the...
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