Column: Glencore and the perils of riding the electric vehicIf you have not already read this article (Reuters )
https://uk.reuters.com/article/uk-electric-vehicles-glencore-ahome/column-glencore-and-the-perils-of-riding-the-electric-vehicle-tiger-idUKKCN1UY1QE
"The EV supply chain revolution is still in its infancy. EV sales are still a fraction of total automotive sales but the fraction is increasingly exponentially all the time.
Analysts at Adamas Intelligence note that battery deployment in hybrid and electric vehicles rose by 114% year-on-year to 11.25 gigawatt-hours in June due to both more vehicles and more powerful batteries.
The build-out of battery capacity and precursor materials capacity is running at similarly exponential rates.
The irony is that the current depressed pricing environment for both lithium and cobalt is actively now deterring fresh investment.
Which in commodity text-book fashion will likely generate the next price boom for both.
The EV revolution has only just started. So too has the associated market turbulence for EV metals. "