Pricing is simply a function of supply and demand. It doesn't matter if the market is 10 times the size in the future or if it's the size it is now. Lithium, for example, is going through a period of shortage right now, so the price is going up. In the last four years, when the EV demand increased 30% for lithium, the price was coming down at that time.
What happens when lithium's price stays down, and the same for cobalt? If it stays too low for too long, you just don't get investments in new mines. There's always an incentive price to bring on a new supply. As a result, at the moment, because it's left to the capital markets, you're not getting the money for those new mines, and that's really where there could be a role for the government to play and underpin that.