New TA/Charting, page-14542

ALB and PLS did the market no favours the last 2 weeks.

ALB a supposed $1200 US price achieved though the pricing and customer is rather opaque. Auction was in Yuan.

Worse still PLS taking a pre auction bid for for SC6 equivalent at $1200 USD. Thats CIF. Not FOB, and here is the worst part, for delivery in December quarter.

What does that tell you about PLS forecast price deck for the remainder of this year??

Sigma also put out pricing. I note some here jumped on the $1333 USD FOB pricing. Net of VAT thats $1160 USD.

Nothing flash if you are projected to be top quartile for OPEX.

Sigmas simple flow sheet, dry stack tailings, low labour costs and cheap renewable hydro energy, has them still making a killing at that price.

Lower for longer is highly likely, especially when there is already idle capacity with unused trains that come on line.

Execution risk and low price environment is the reason the shorts have increased. There is nothing surprising about that.