China produces graphite but no one seems to know how their brown field expansions can quickly react to demand.
Whereas China has to import more lithium than graphite, and everyone knows about the project status, brown and green field plans etc of the world Lithium sector. Lithium prices will drop, but not to CATL's special price.
It was never CATL paying those high spot prices, it was always the converters with no feedstock. And they will continue paying higher prices.
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