When the Chinese are prepared to pay USD $145 for for a tonne...

When the Chinese are prepared to pay USD $145 for for a tonne iron ore, you know their economy is fine.

Which would suggest recovery of other commodity prices (including Li) are not far behind. IMHO.

A multi-month surge in iron ore prices is poised to deliver Treasurer Jim Chalmers as much as $18 billion in extra tax revenue, bolstering the prospect of a second surplus and funding another round of subsidies for voters.

Iron ore has rallied to $US145 per tonne, its highest price since April 2022, as optimism builds that China’s economic recovery is gaining momentum thanks to a combination of monetary and fiscal stimulus.

The price surge is a boon to the federal government, which is reliant on sales of the commodity as a major source of tax revenue.

https://www.copyright link/policy/economy/iron-ore-price-surge-delivers-labor-an-18b-tax-windfall-20240104-p5ev3a#:~:text=A%20multi%2Dmonth%20surge%20in,round%20of%20subsidies%20for%20voters.