LC cost basis infographic, with spot in green and future in red:
SMM's explanation doesn't make any sense, brine lakes haven't increased production, and the integrated producers produce very little of the total. It's economist logic, not real world observation (which also drives all the bearish broker reports).
I can't see prices hanging around at this level for very much longer if battery demand continues to increase, which it will. With the above cost assumptions, LC needs to be above 240K yuan for spod supply to be in the money, which is US$33K/t (it peaked at $80K).
LC futures were dumped in September and are now coming up again:
WR1 General Discussion, page-20380
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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