I’m not too sure on the details surrounding these contracts but if they genuinely can’t supply the quantity/specs and this recent destocking we’ve seen was contingent on these contracts being fulfilled then they will have to purchase off the spot market to fulfil……it will be very interesting to see how this plays out.
That said I’m assuming the big shorts would have a better understanding of the contracts and would have thought this scenario through and so who knows.
AKE Price at posting:
$9.15 Sentiment: Hold Disclosure: Held
