Apparently there is some obscure Wuxi Li Carb futures contract...

Apparently there is some obscure Wuxi Li Carb futures contract down 6% o/n and 9% for this week.
I assume this is being interpreted as the Canary in the Coalmine for those looking for a plateau/fall in what has been a parabolic hockey stick rise in the Li commodity price complex.
We know that the Li space is a massively crowded trade, particularly in hedge fund land, and perhaps in conjunction with the risk off late in the US, there has been a stampede for the exits in the sector by the more short term investors.
Turning points in (commodity) cycles always cause a reaction, even if its a false plateau / fall that we have seen recently in Li. Personally I don't think this is indicative of whats happening in the "real" lithium world, but it doesn't really matter what i think today; if enough hedgies / investors think that the price has peaked and its all over, its a massive sell stampede that could take a few days to work through.