Given Gangfeng provided the prepay to AJM it makes sense for Gangfeng to curbe Pls deliveries before ajm. The prepay liquidates itself from 2019 deliveries. As far as PLS goes they have the cash/working capital to absorb the temporary slow down in exports while offtakers continue their ramp up in conversion capacity. Wishful thinking that the 13kt this month is going to a new undisclosed buyer. Given the sizeable shipment this is almost definitely going to gangfeng.
AJM Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
