EU EV stimulus puts sector back in focus
With the announcements about European stimulus of EVs we’ve upgraded our risk factors across the board, taking our average risk factor to 3.0 from 2.0 (higher is better). Our Risk factor for spodumene concentrate and High Purity Manganese is 4.0 because of the lower perceived risks in those segments. The re-increasing of trade tensions between the US and China is likely to lead to REEs being well-bid, but for me the near-term focus of positive news on EV demand is likely to be the lithium complex, with spodumene concentrate likely to dominate. Spodumene concentrate moves to second place in our...