Anyone who was here for the last downturn understands that Chinese agreements mean f*ck all. I guess you weren’t paying attention to agreed floor then prices, were you? While we’re on the subject though, AGY agreed to negotiate an offtake from Stage 2 “in good faith”.
From my point of view, the agreement has already likely been breached by AGY who were attempting to negotiate from a postion that they knew wasn’t sustainable, because the spot price was already well below their viability price. It’s a bit hard to negotiate in good faith when you know you have no chance a fulfilling your end of the arrangement, but took the cash anyway, said thanks and rolled straight into C&M.
ATL could dump the lot right now and AGY wouldn’t have a leg to stand on.
AGY Price at posting:
4.2¢ Sentiment: None Disclosure: Not Held
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