Electrification: 'There's no doubt about the criticality of nickel,' London Metal Exchange CEO says

Yes. So I think the story with Nickel is that we have obviously seen a huge amount of new production. Come on our on stream, particularly out of out of Indonesia, Indonesia and I think it's really important going back to that point about us being a global physical market, it's important that that's reflected. So we've been really pleased that those new Indian, Indonesian sources of production have come on to the LME because it's really important that we capture the price signals that that increased production brings. But that having been said, you know I'm ultimately a long term, long term bull on the electrification story. I drive an electric vehicle. I think an increasing number of people do. And going forwards, there's no doubt about the criticality of nickels. So you're absolutely right. The story has been one of more production coming on on board. That's what price signals should do. It's important that's reflected on global markets like ours, which it has been. But you're going forward, we know there's still huge investor interest in this space because of the global dynamics of where electrification is going. Matt, here's the thing though. You know, some people are not so sure about Nicole. I mean Indonesia, they've almost got the farm on it and a lot of the investment is, is by the Chinese. I get that right. But you know, technology is moving ahead so fast, especially battery technology. And we're hearing that the next generation of batteries for EVs, solid-state batteries for example, are going to use little to no nickel, which raises the risk that, you know, not just are these mines or operations. Nine, $10 billion operations in Indonesia at risk of becoming white elephants, but you know, it's not going to help the price of nickel either. Technology always moves on and I wouldn't dispute that. But of course the price signals are crucial to that technology. So I think where the nickel industry stands right now is they realize that if they can provide stable source of supply, reliable supply at reasonable rates, then they're they will maintain their position within cathode battery chemistries. So, so nobody's denying that technology is going to move on, but it's absolutely crucial that these sources of strategic metal supply. Are maintained and that then gives the technologist, it gives the battery manufacturers that range of options when they look at their their future technology.