Ann: Drilling Underway at the Trieste Lithium Project, James Bay, page-41

This is part of why:

Lithium carbonate prices sank below CNY 170,000 per tonne, the lowest since the two-and-a-half-year low of CNY 165,000 in April, amid lower demand. Battery manufacturers for new energy vehicles phased out input buying activity since the start of the third quarter as their inventories filled up and funds from previous government-led subsidies dried. The concerning macroeconomic backdrop for the Chinese economy also translated to low consumer spending for electric automobiles, driving 10 Chinese new-energy vehicle producers to offer price cuts to reduce the supply glut. Consequently, lower input demand resulted in a 10% reduction in battery prices in August, according to key market players. Additionally, further demand concerns emerged after the EU launched an investigation on predatory pricing for Chinese vehicles due to Beijing’s subsidies, risking tariffs and trade barriers. Chinese commodity markets are closed on the first week of October for Golden Week celebrations.



I don't really care about the short term stuff of this as I operate on a longer time frame, but traders do. So all lithium specs are in the same boat with this hanging over for now.