The chart is dated, and much has happened since 4Q19. Quoting from a BMI article this year, "...Lithium carbonate demand is expected to increase by 23 percent year-on-year and hydroxide up by 33 percent year-on-year, with the increases almost down entirely to the surging needs of the battery sector.”
The bad news is that "...Hard rock miners have been hardest hit, with the price of spodumene concentrate (feedstock for lithium hydroxide manufacture) continuing to fall on the back of break-neck expansion in Australia, which quickly became the number one producer of lithium over South American brine producers."
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