Looks to me like someone or some group is just short lithium. Either a hedge against realised positions or genuinely bearish. I know this isn't perfectly up to date, but still telling when you look at asx shorts:
AVZ: 0.27% short
LTR: 0.4% short
PLS: 0.2% short
LKE: 0.37% short
SYA: 0.27% short
CXO: 0.18% short
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