The recent rally in lithium carbonate futures has honestly exceeded many people's expectations. At the beginning of the year, there was still discussion about whether the 120,000 level could hold steady, and now we're already approaching 160,000. From an expectation management perspective, this is definitely a big surprise.

The interesting part is this—if the 160,000 level can be maintained without needing to push higher, then the Q1 performance will already be enough to watch. Everyone can do their own calculations; from the cost and profit perspectives, what does this price level mean for upstream suppliers?

Of course, if it can continue to break through upward later on, that would be the icing on the cake. But the most immediate and realistic question is: how long can this platform last? Where is the turning point of market expectations? These are the issues worth pondering.