This seems to ignore the entire supply/demand context of both metals. Demand for Al is basically flat, and the supply/demand relationship has reached an equilibrium.
Electric cars (by far the biggest consumer of lithium) have been experiencing a an average compounded growth of something like 50% per year for the past 10 years. Li production is still catching up. The earth has plenty of Li deposits but there is a lead time to purchase the heavy machines needed to turn those deposits into productive mines.
Once electric car growth hits the inflection point on the adoption curve, and growth becomes sub-exponential, we'll start to see major downward pressure on Li prices.
Electric cars (by far the biggest consumer of lithium) have been experiencing a an average compounded growth of something like 50% per year for the past 10 years. Li production is still catching up. The earth has plenty of Li deposits but there is a lead time to purchase the heavy machines needed to turn those deposits into productive mines.
Once electric car growth hits the inflection point on the adoption curve, and growth becomes sub-exponential, we'll start to see major downward pressure on Li prices.