Here's iron ore price chart, bottomed at US$39/t on 7 December 2015, started to recover late February 2016, rose 143% to US$95/t in February 2017):
(Chinese lithium futures price bottomed at CNY 85,650/t on 6 December 2023, started to recover late February 2024... imo)
Iron ore price:
Chinese lithium futures contact:
As I expected, Chinese lithium future price (2407), touched CNY 110,000 per ton yesterday, today cracking CNY 110,000 per ton, the big recovery just started, should be heading towards CNY 150,000 per ton next month. How hard it fell, how fast it will bounce.
BTW, shorts increased to 183m,Obviously they like Barbeque!!!
Big bounce month ahead for lithium price.
All imo.
ASX Today, page-38297
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