Much more "price discovery" required by the likes of Albemarle...

Much more "price discovery" required by the likes of Albemarle and PLS. For context. regard this commentary fron Chinese-owned LME posted after ALB auction. No mention of recent futures action. Typical.

Lithium carbonate prices fell to below CNY 110,000 per tonne, failing to maintain the over-three-month-high of CNY 115,500 seen throughout the second half of March as oversupply in the Chinese electric vehicle market maintained muted bidding for batteries. Sales of EVs rose by 18.2% in the first two months of the year in China, slowing from 20.8% in 2023 and the triple-digit growth rates commonly seen in late 2022. Lower demand from consumers amid the end of subsidies from Chinese authorities drove major car manufacturers to cut EV prices further, with giant BYD decreasing prices by an average of 17%. Consequently, firms continued to take advantage of high inventories following the supply glut caused by extensive subsidies from Beijing throughout 2022. The developments drove key market players to forecast the next lithium deficit to return only in 2028. This was magnified by a near 20% decline in Chinese EV exports to the EU as the latter cracks down on unfair Chinese pricing.