A contact from Ganfeng texted me this screenshot. Notice the bar...

A contact from Ganfeng texted me this screenshot. Notice the bar graph below. This all happened at the very last minutes of the market before closing. Market closed at 3pm, China time.

What I take from this is basically what I've been told earlier, they report to "the market" forecasting 80k-90k yuan as bottom price, economists and media buys into it and parrot them without validating, everyone just trust what everyone just parrots... and they end up acquiring at 90-105k yuan surprising the market.. and that's just for today.

Lesson: don't easily trust what today's economists and media says because more often than not, their forecasts are wrong. They are second hand information and more often than not these days, it's all about the clicks and profit than facts. Best to get directly from source.

Fact: Lithium "oversupply" can quickly turn around and become under supplied if Aussie producers decide, screw this price eating away profit margin and they reduce production. Australia supply 50% of the world's lithium. China may currently control demand but Australia controls supply. Customer is not always right. Tianqi's arrogance breaking offtake contract with IGO because spot price is cheaper is reverberating right now across Australian producers.