in general the seasonal peak occurs during September-October. In...

in general the seasonal peak occurs during September-October. In an initial price collapse environment due to demand destruction, the prices tend to dramatic in movement as the surplus inventories are sold at whatever the cost by producers that cannot hold. This is followed by limited production to cater the fallen deman.
The next phase is when demand gradually improves, the supply is inadequate and gradually forces the prices. This is what is taking place as we approach the peak seasonal demand . The important question is how much downstream demand by processors of Ree is there? Will the demand be sustainable and what is impact on prices ?
the first step is to revisit the 412000 cny per metric ton. Currently at 390000 10 percent off lows. This is the region of the last price recovery in April this year before it settled around the lows leading into June/july.
there is always a moment that signifies the re-entry of money flow into the sector. Has the ree sector started to see this as you rightly point out remx had a good night. However it is still in that downtrend since the November 2021 highs.