"so don't know why people think rare earth prices are in bad shape." - well it's because they are falling and continuing to fall with no bottom as yet. LYC basket down to $125kg Tuesday and China domestic $63kg.
Prices will no doubt overcorrect on the downside just the same as they overshot on the up but until there is some sort of floor or stabilisation it's premature to talk of higher prices IMO. Higher than what? Today's prices or where they eventually bottom?
If they do rise again it's likely to be the CREO rather than Ce & La that will be more a bulk commodity if both LYC and Moly realise full production. Highlights LYC's latest offtake deal with the BASF JV.
I've always done my calcs on JP Morgan's original numbers which use $66kg as a long run average for Mt Weld with a projected SP around $4. Anything else is a welcome bonus.
doubling demand seen pushing prices up in 2012, page-5
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Last
$6.40 |
Change
0.170(2.73%) |
Mkt cap ! $5.982B | |||
| Open | High | Low | Value | Volume |
| $6.34 | $6.40 | $6.28 | $12.65M | 1.991M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 15037 | $6.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.40 | 38814 | 10 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |