Technology and battery metals
In conclusion, technology is changing our daily lives, impacting heavily on world economic activities. Commodities markets, in particular basemetal markets, which act as indicators for the world economy, are highly sensitive to changes in technology. These changes could result in a fundamental change in the demand of different kind of metals. The electrification of the world has already led to increase demands for copper, a primary component of wires. These changes are especially affecting for cobalt, with a relatively tiny market and being largely demand driven, prices are highly sensitive to technological changes.
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