Yes, quite a few folks talking about how low prices are...

Yes, quite a few folks talking about how low prices are potentially setting up another big spike.
You posted a good interview a few posts looking at the supply chain and they presented this figure. It seems that,

* Cathode and battery production is at overcapacity and will likely remain that way for some time.
* Chemical processing is only holding a very small inventory likely due to the huge fluctuations in raw material prices. Not sure where they stand on overcapacity going forward but it doesn't matter as long as they can keep up with everything above them in the chain.
* Raw materials have inventories of about 1-2 months. Current prices here are hurting future supply.
With almost 50% GWh demand growth last year, history could repeat if the Chemical Processors sense a bottom and demand starts picking up and they again race each other to aggressively restock. As long as EV sales remain strong, it should sort itself out.