From MOM China lithium discussion Fri 26:
1. China is "set up" for spod. (Through habit, history, whatever). Lithium is everywhere i.e vast industry
2. 100% of domestic lepidolite is vertically integrated at current prices as loss making but don't care as loss recouped downstream i.e hors cost-curve.
3. African supply delivered varying from ore on ship to more processed finds a downstream customer in China, so highly fragmented market with spot sale opportunity. African output complicated by logistIcal costs and relatively uncompetitive. Chinese buyers prefer simplicity and are "set up for spod"
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