Some comments:
1. It is Ganfeng not "Genfeng"
2. Ganfeng has an existing offtake with PLS for 160ktpa
3. This new agreement expands the offtake by up to 150ktpa to a maximum of 310ktpa
4. Ganfeng will wish to secure the tenure and quality of their supply. PLS can provide both so it makes excellent commercial sense to do so.
5. You believe the market to not be oversupplied. In that case I ask you what caused the SC6 price decline from US$8400/dmt to US1020/dmt. I am not aware of any other market dynamic that would cause this. If you are please share.
6. I refer you to Fastmarkets. Their Lithium team actually communicate with market players on a regular basis. Their view differs somewhat to yours
Lithium Related Media Articles, page-20147
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