I do not think the market is not so rational (10% up must be...

I do not think the market is not so rational (10% up must be good news etc.). There appears to be a pattern trending down, however as it approaches the 12 month low (~49c) i seriously doubt this trend will continue, if today didn't signify the end of it already. At a guess the technical aspect (breaking of the declining trend) will be complemented - if that is the right word to use - by the ongoing deterioration in global conditions (China No 1 graphite, Russia & Ukraine No 6 & 7 respectively) along with a renewed EV push (partly due to increasing oil prices - Russia). All in all i think a lot more positives are ahead than negatives in the immediate-to-near term.

I suspect, if it hasn't happened already, graphite in the short-term will be linked to oil (the higher the oil price, the more people want graphite/EV exposure) and while we are not at critical mass for EV's yet (probably when Europe is 20-25% EV's - a guess), recent weeks have proven why you cannot have a supply chain that is dependent on China or Russia. Europe will lead the way on EV's, the world is now following and that 5-10 year plan of EGR to avoid Chinese exposure and focus on Europe should, i suspect, lead to a quick return to $1 in the not too distant future.