Death Spiral, page-59

Lit ETF 6 month chart. The trend has been upward since August.



This certainly doesn't reflect a long term oversupply. Battery manufacturers have run down inventories in the face of slowing sales due to trade war, lower subsidies & etc.
In response, hardrock lithium operations have been scaled back by all producers.
Brine production has been beset with political strife, but also negative sustainability sentiment regarding water wastage and environmental degradation.
Trade war will end at some stage, China may resume subsidies not only to combat rampant pollution, but also to revive a post trade war flagging economy. Europe is coming on board with emobility apace with all major players flagging huge investment and commitment to EV's.
Japan, Korea, The US is finally waking up.
What does all this mean? When the market snaps back the other way, there will be a huge shortfall in material.