From Galaxy chief executive Simon Hay, reported in AFR: ''The converters we met this week are not running at full utilisation and have spodumene stock in front of the kiln, I would estimate it is probably twice their usual levels,'' he said on Friday.''Normally two months' supply is what they aim to keep in front of the kiln and they are holding approximately four months, and this was across a number of converters."So I doubt we will see any price recovery until that stock is worked down to more normal levels and we would expect that toward the end of 2019 or early 2020."
The Li prices are so depressed that converters aren't even running full blast mate.
PLS Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
(20min delay)