Analysts are pretty lazy. They use simplistic assumptions that suits their narrative. It's pretty obvious that if the price is dropping due to excess supply, the marginal producers will eventually reduce supply to avoid going out of business. Assuming that this level of pricing will persist for 3 years + is just nonsense.
A cursory read of a supply/ demand economics textbook will tell we will see a supply response that will take pricing to a level beyond the highest marginal cost producer.
These analysts/ market experts don't seem to read much!!
Good News & Bad News, page-37881
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$3.29 |
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 2 | 10017 | $3.29 |
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