Yep sure is cheap. Macro is still the drivers for price atm IMO as it is in most of the lithium sector. I don’t consider WR1 an explorer ,but developer these days.
Precious few metric points in the lithium industry in China - it’s all opaque- but the closest to cell and cathode inventories is a few months. ( I’m assuming China Jan EV figures as produced in Dec).
Add the CNY month off and by the time WR1 have their MRE upgrade ( say April) and we should hopefully see some signs of life from LiCO2 pricing.
Elons latest comments basically saying if the US want a car industry they need support, they can basically say goodbye already to exporting them with China blowing all automakers ICE+EV out of the water….
That said on the demand side rho mo have mid case of 18 million ( BEV+PHEV) and high case 20.7 million for 2024.That all consumes huge amounts of lithium chemicals.
https://thedriven.io/2024/01/25/worlds-largest-ev-battery-maker-set-to-cut-costs-in-half-by-mid-2024/
And CATL boasting their cell prices dropping by 50% again in 2024.
Will kill the thematic of ‘ cheap sodium cells’- expect a lot of those projects to be put on hold a few more years.As will some more lithium projects. Producers ,Developers and explorers.
They need prices to stabilise at higher levels to ‘ incentivise’ investment
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