Lets see....
China is talking up large super mines,oversupply, breakthroughs producing at 1/5 of the current costs to push down lithium prices and keep out new battery manufacturing entrants. Much like the shorters do to lower prices. They did the same with iron ore and by 2016 managed to push it down to $40 before Rio, BHP and Vale waked up to it and called their bluff by cutting production.
These "many new mines" you talk about couldn't get finance when lithium prices were 50% higher so what are their chances now that shorters are screaming oversupply and under $600 T prices ?
Morgan Stanley downramped the sector last year then couple of months later proceeded to load up on lithium stocks.
Morgan Stanley have a long record of not being able to predict the time of day , their oil predictions being some of the most laughable ones.
PLS market is China and South Korea only ... both have the largest battery manufacturing industry
"Why not Europe where most of the electric cars are." Because Europeans buy their batteries from China and South Korea ?
A low lithium price is not good for the sp of current producers but at least it keeps new entrants from obtaining finance until chemical conversion and battery manufacturers catches up with current supplies and pushes the price of lithium to new highs.
If you want to see the reason for falling sp have a look here,
https://www.shortman.com.au/stock?q=PLS
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