With Albemarle announcing they are cutting back expenditure, I...

With Albemarle announcing they are cutting back expenditure, I wonder if they'll continue with the countercyclical investment to expand capacity at greenbushes. Does anyone know what the capacity is to stockpile ore? Is there a risk that due to the size of GB, and the way the contract mechanisms are designed, the unknown amount of stockpiling is dragging down global prices? If and when the price bottoms out and starts recovering, under the current arrangement Tianqi and Albemarle are going to be supplying their own product from stockpiles using retrospective pricing, potentially for months/years which will be keeping a lid on the rebound until the stockpiles run out.

Forward looking EV is probably more important in this scenario, using the current pricing 20-25x looks more accurate (without knowing the impact of any production cuts)