Is this the beginning of the end or the end of the beginning for the battery material thematic?
The vultures seem to be circling around many battery materials markets in recent weeks and months. You don’t have to look too far to see a negative article on lithium or cobalt as commodity prices fall. The most common refrain in lithium is that there’s too much supply coming into the market and that lithium will be in oversupply. Cobalt metal has also seen a huge sell-off on the LME from US$90,000/t to below US$70,000/t with concerns about thrifting by battery makers and a near-term oversupply. Share prices tell their own story with the Global X Lithium & Battery Tech...