Well we are down to the bottom pricing from a few years ago and...

Well we are down to the bottom pricing from a few years ago and buyers know producers cant sustain production and meet agreed offtake volumes if it does not cover cost, so that is the first turnaround point. Many small producers and wannabe's are going into care and maintenance mode so that takes a whole lot of promised production off the table and this takes moths or years to ramp back up.

Secondly the last time the analysts raved about an oversupply it turned around very abruptly, the comment above indicates china is 83% higher YOY for Li imports. That is a big number and highlights that demand is strong.

Chart Indicators are all over the shop, it went against the macd with the recent falls and the RSI is not as weak as I would expect given the recent selling. This could be attributed in part to the really low trading volumes. It may not be a case of desperate sellers but more of a lack of buyers who are just sitting on their hands waiting for the bottoming out before they commit