What if battery-grade nickel supply tightens and pushes EV costs higher?
Class-1 (battery-grade) nickel supply tightens as Indonesian output is curbed and ESG screens exclude high-carbon laterite, lifting LME nickel and battery costs, an NGFS transition-metal bottleneck.
how we built this number — every step
The class rate is measured from our dated, sourced event library (decade-normalized Poisson — the full table is public at base_rates.json). The variant’s share within its class is the analyst’s editorial call, published so you can audit it. A wider range means thinner precedent. Full recipe: methodology · scored at Reality Check.
The butterfly cascade
How this trigger trickles across markets, left → right — the root shock, its first‑order moves, then the ripple effects. Drag any node; tap a market for its real price history.
Resolution timeline — how this probability is moving
Our model's odds (gold) over time vs the crowd's (Polymarket, blue), from the past toward the 1–3 years horizon. Each dot is a real macro event that nudged the probability — green pushed it up, red pushed it down. Tap a dot for the source. The gold path is an illustrative reconstruction anchored to today's estimate — real dated events, not a live re-estimate history.
What it would mean
If this plays out, it is a risk-off shock. Class-1 (battery-grade) nickel supply tightens as Indonesian output is curbed and ESG screens exclude high-carbon laterite, lifting LME nickel and battery costs, an NGFS transition-metal bottleneck. The trigger decomposes into signed root‑shocks — Climate/crop supply ▲ · Geopolitical risk ▲ · Industrial demand ▲ · Inflation surprise ▲ — which propagate through our causal graph to the markets below.
If it happens — the markets it would move
Biggest moves first. Projected moves are cascade-model priors; hist A–B% = what comparable past events actually did (measured abnormal returns), and model prior · unmeasured marks markets with no analogue backing yet. Tap any market for its price history.
| Market | Class | Projected move | |
|---|---|---|---|
| 1 | Volatility (VIX) VIXon Hyperliquid 📈 chart | Vol | ▲ +3.7% hist +0.6–+3.4% · other way -9.52% (n=12) |
| 2 | Nasdaq 100 NDXon Hyperliquid 📈 chart | Index | ▼ -1.4% hist -0.88–+0.1% · other way +1.25% (n=12) |
| 3 | Tech sector XLK 📈 chart | Equity | ▼ -1.0% hist -0.57–+0.44% · other way +1.94% (n=12) |
| 4 | Semiconductors SMHon Hyperliquid 📈 chart | Equity | ▼ -0.7% hist -0.52–-0.04% · other way +1.17% (n=12) |
| 5 | S&P 500 SPXon Hyperliquid 📈 chart | Index | ▼ -0.7% hist -1.43–+0.21% · other way +2.72% (n=12) |
| 6 | Freeport (copper) FCX 📈 chart | Equity | ▲ +0.6% hist -4.16–+1.64% · other way +7.57% (n=12) |
| 7 | Nvidia NVDAon Hyperliquid 📈 chart | Equity | ▼ -0.6% hist -1.05–+0.14% · other way +6.78% (n=12) |
| 8 | Wheat WHEATon Hyperliquid 📈 chart | Commodity | ▲ +0.5% hist -1.35–+1.01% · other way +0.06% (n=12) |
| 9 | Corn CORNon Hyperliquid 📈 chart | Commodity | ▲ +0.4% hist -0.98–+0.8% · other way +1.35% (n=12) |
| 10 | AMD AMDon Hyperliquid 📈 chart | Equity | ▼ -0.5% hist -1.22–+0.16% · other way +5.2% (n=12) |
| 11 | Broadcom AVGOon Hyperliquid 📈 chart | Equity | ▼ -0.5% hist -1.32–+2.28% · other way -1.23% (n=10) |
| 12 | Micron MUon Hyperliquid 📈 chart | Equity | ▼ -0.5% hist -1.75–+0.57% · other way +6.1% (n=12) |
| 13 | TSMC TSMon Hyperliquid 📈 chart | Equity | ▼ -0.5% hist -2.84–+0.64% · other way +2.93% (n=12) |
| 14 | Marvell MRVLon Hyperliquid 📈 chart | Equity | ▼ -0.5% hist -1.46–+2.26% · other way +10.41% (n=12) |
Probable recommendation
Historical precedent — what analogous events actually did
Across 40 analogous events (overlap‑weighted), as abnormal returns — market beta stripped, so it's the event's own effect, not the market backdrop. Shown at 20 days (persistent) and 5 days (immediate); ↺ fades = the two horizons disagree. Confidence = consistency × sample × significance.
| Asset | History says | Abnormal (20d · 5d) | Hit | n | Confidence | vs cascade |
|---|---|---|---|---|---|---|
| XCU XCU | SHORT | -2.6% · 5d -0.8% | 71% | 33 | 0.36 | ⚠ differs |
| RTX RTX | SHORT | -1.8% · 5d -1.3% | 68% | 40 | 0.32 | ⚠ differs |
| XPT XPT | SHORT | -4.2% · 5d -1.5% | 67% | 33 | 0.32 | ⚠ differs |
| AMD AMD | SHORT | -0.9% · 5d -0.4% | 65% | 36 | 0.22 | ✓ matches cascade |
| GBPUSD GBPUSD | SHORT | -0.6% · 5d -0.1% | 63% | 32 | 0.22 | ✓ matches cascade |
| INTC INTC | SHORT | -2.1% · 5d -2.4% | 63% | 36 | 0.22 | ✓ matches cascade |
| XLK XLK | LONG | +0.8% · 5d -0.6% ↺ fades | 64% | 33 | 0.21 | ⚠ differs |
| TSM TSM | SHORT | -2.4% · 5d -2.4% | 64% | 33 | 0.21 | ✓ matches cascade |
| SOL SOL | LONG | +4.6% · 5d -6.7% ↺ fades | 66% | 17 | 0.21 | ⚠ differs |
| COIN COIN | LONG | +7.7% · 5d +1.8% | 61% | 15 | 0.19 | ⚠ differs |
| Volatility VIX | LONG | +1.4% · 5d +5.3% | 60% | 34 | 0.18 | ✓ matches cascade |
| FCX FCX | SHORT | -4.0% · 5d -2.0% | 61% | 33 | 0.18 | ⚠ differs |
| 10y yield DGS10 | LONG | +10bp · 5d +6bp | 59% | 40 | 0.18 | ✓ matches cascade |
| Gold XAU | SHORT | -0.8% · 5d -0.8% | 59% | 33 | 0.15 | ⚠ differs |