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We already have a clear historical record of how this will go & that is oil.
I’ll bet that when the first few motor vehicle were chugging down the street not many would have foreseen the coming explosion in demand.
This time analysts/market participants can see quite clearly what will happen & the cobalt price has been reacting to their behaviours of stockpiling & squabbling over the securing of deposits.
We all heard tell of the multitude of battery/EV factories that were being built/planned over the last few years.
Many of those are now either being built, being christened or having workers & their sundries quietly shuffle in to take their places at their workstations.
Look to the ski jump on the chart- we are in for a multi decade boom as we replace 99.9% of all motor vehicles in the world, ( some applications will require oil/gasoline for a long time yet ), & that is number of tens of millions of vehicles each year alone..
I just looked it up & it shows that in 2016 alone there were 80 plus million vehicles built....
man oh man I’m going to have to take the rest of the day to let that sink in..... I’m going to keep checking up on that but let’s just say even if only 10% of that number is the correct figure then we’re going to be sitting very pretty over this initial decade of increasing EV/large scale battery production.
Don’t forget that construction equipment is being electrified too- excavators etc will soak up a lot of battery power & of course one of my pet favourites, military vehicles.
Hooooolyyyyyy craaaaaaap does the world need cobalt.
