Good pick up re the lowering of the LC0124 contract (Jan 24) over the past week. Given that open interest in this contract is now lower than the July 24 (LC0724) contract it means that many of these speculators have simply rolled over their exposures and pushed the risk further down the road. At some point these punters will need to face the music and cover their exposure via either cash settlements or physical delivery.
The volatility in the lithium market will continue. I wouldn't be surprised if we are limit up today given the announcement overnight regarding extension of China EV subsidies.
It's like a game of ping pong at the moment!!
Spodumene Prices, page-3735
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