Mysteel believes destocking remains the key theme, with near-term focus on whether prices can sustain above Yuan 160,000/tonne. Since August, the market has been driven by strong LFP schedules, tight ore supply, and recurring restart expectations for Jianxiawo, with peakseason tightness increasingly priced in. Whether prices hold above this level will determine if the current rally can extend. If production schedules continue to exceed expectations and destocking accelerates, prices could push higher from mid-September.