It's just a best guess, but from watching the price movements both in shares and the spot market Asian Metals Index - lithium, I'd say that is what is driving sentiment.
http://www.asianmetal.com/LithiumPrice/Lithium.html
Sad really, because spot pricing bears no relationship to the real prices that Li chemical producers are actually getting.
The London Metals Exchange is attempting to find a way to create a true exchange and price guide, but it is extremely difficult given the complex nature of the products involved.
See this link which explains it all in greater detail:
https://www.linkedin.com/pulse/dear-london-metal-exchange-get-lithium-right-emily-hersh/
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