Sorry forgot to mention, those Chinese mines were producing and...

Sorry forgot to mention, those Chinese mines were producing and selling at prices below their cost too! They were undercutting competition or trying to.. but no one can reasonably believe they can keep selling lower than their cost for very long, or even surviving to tell the tale. Those mines are now in serious trouble because they can't pay their debt and most likely , those operations including CATL's subsidiary company operating those mines, will file for bankruptcy. And we're back to seeing battery manufacturers scrambling to secure reliable supply yet again and pushing the prices up, if to remain competitive and not lose their customers purchasing batteries from them if to deliver orders on time.

Market is always late at reacting to these things by the way. Much like how everyone saw GFC before the crash, or the Asian financial crisis, or Covid. It usually take one big trade before everyone else follows and then it's overdone. I'm sure you're used to seeing it too. It's just fun to mention now and again, thought I do it now/again.

I'm excited what the next couple of weeks has in store for the sector, and next quarter. Cheers