Many people are missing the point. You go on about spot price...

Many people are missing the point. You go on about spot price when 90-95% of companies profits are based on contract prices. Contract prices did not go $80k/t and still remain high. Outside of China prices are stable. CATL/China are manipulating the spot price through banks like GS and friends, to fool the uneducated investors. The obvious is in the last five years existing mines have not been able to double production. In seven years total production need to increase 900%. Cost of lithium is 2.5% of total EV cost and yet CATL make out its holding back the industry, at the same time they are raking in profit and want to increase their battery production. The quoted spot prices are below their raw material cost for the last three quarters. A 10 year old could understand its BS. People go on about bank collapse, the regulators closed it down. US Unemployment rose 200k but new jobs were 300k. The worst case scenario bigger than great recession was the pandemic, no recession or depression came of it. Companies are still struggling to get workers. What about interest rates, there are now more buyers per available properties. Some areas house prices are rising. A house on my street sold $1.25m 18months ago, demolished and rebuilt sold $2.49m last weekend.
For those that don't know mining, they blast and stockpile, crush and stockpile, concentrate and stockpile before shipping. Those who go on about rain are flying with fairies. The only way the banks can convince people of their oversupply story is through short selling the SP and scaring retail into selling. Those that increase their holdings will be laughing rich people in months and years to come.