WR1 General Discussion, page-33151

With more than 50% of Chinese lithium producers unprofitable at current lithium spot prices
and now major problems with African producers.
More and more supply is coming off as a number of current producers go into suspension.

As demand continues to grow and supply recedes, lithium spot price will advance.

Simple supply and demand.
Luckily spot prices don't remain stagnant as some have convinced themselves of.

Instead commodity prices respond to the market fluctuations of supply and demand.

That's why spot price is cyclical.

Wouldn't you know it, the earth is round, not flat!