I’m not entirely sure, to be honest. That was my initial assumption as well, and it would make sense. However, I also feel that if they had sold that batch to ATL, they would have just said so. There’s already an established relationship through the strategic investment, and they previously announced negotiations for an offtake, so I don’t see why they’d be secretive about a single 20t spot sale. It is possible though.
With that in mind, I’d guess the buyer was someone in Hong Kong other than ATL. Some other options include Gangfeng, DCenti New Material and FIZA Chemical, but it also could be any number of other smaller chemical companies that are based there. That being said, AGY is surely aware that describing the purchaser as a "HK Chem company" would lead most people to assume it was ATL, so I suspect that wording was intentional.
Not sure what you mean about the first tranche, though—wasn’t that sold to a Korean chemical company?
AGY Price at posting:
2.2¢ Sentiment: None Disclosure: Not Held
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