Global cathode and precursor market investment horizon outlook - Q4 2023

Update: Corrections have been made to cathode demand data. The following slides are affected, as well as the resulting tabs in the accompanying data file; Demand by end-use, cathode split by %weight, cathode split by chemistry and raw material demand. Uncertainty has plagued global markets for the past few years. Lithium-ion battery cathodes are not excluded from this despite the high growth. Raw material availability, pricing and speed to market are all in a precarious balance. Throw in Western incentives vs China's dominance, and we have an increasingly unnerving situation. In this Investment Horizon Outlook (IHO) update we explore the market through the lenses of capital investment, demand, supply and trade.