Lithium will continue to lag

Lithium is out of luck. The metal, sometimes dubbed “white gold”, is a vital component of the batteries used in electric vehicles. In 2021 and 2022 investors got carried away, betting that it was about to become the new oil. However, the energy transition is proving slower than expected, sending prices crashing 90% since the rally’s peak in November 2022. Investors became excited last month on news that China had ordered the closure of the massive Jianxiawo mine, responsible for 4% of global sup...