The article states "The MIIT will also establish a linkage monitoring mechanism for key raw material prices to guide the price stabilisation of key products".
The mechanism is to release stockpiles of battery materials they don't have
2 weeks back, inventories of lithium stood at less than 2 weeks, which in a more balanced market, inventories sit at ~ 2 months. Like you say, China gov has no say in the matter for imported materials, and in the case of lithium, imports are ~80%.
Chinese Government Regulator to Guide Prices of Key Commodities, such as Lithium, page-8
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