PLS chart, page-18562

Whilst I'd like it to run hard, the chances are we will slowly burn until the BEOT decides to buy back. There was an interesting article in Bloomberg's today titled:
Chinese Lithium Plunge Has Created Huge Discount to US Prices

(sorry can't reproduce due to paywall). However, here is a key extract that seems flavour the trading patterns we are seeing on our market:

....Still, the lithium market is a nascent one and low liquidity can lead to large swings and differences in prices. Plus, China’s capital and foreign-exchange controls could complicate arbitrage trading.

And while Western lithium prices are also under pressure, they’re getting some support from battery metal buyers in places like South Korea and Japan who want to take advantage of tax incentives as part of US President Joe Biden’s landmark climate bill.

Even so, the price decline may have further to go. Lithium carbonate and hydroxide could drop another 15% to 20% in the near term on the back of weaker demand, high inventories and improved supply, Citigroup Inc. said.

“Demand is super weak,” Hoffmann said. “The market is in a surplus right now.”