Covid was a perfect storm for Sn prices, yet a double edged sword. Reduced mining output due to lock downs and restrictions and a huge increase in e- commerce sales due to a record number of people working from home, bored people at home (all buying new home computers, TVs etc..) and a government flinging money around like no tomorrow. China had zero covid cases then () and could still produce/sell home electronics. Part the reason why all the tech stocks are getting flogged.
"Harvey Norman – along with retail rivals Kogan.com, JB Hi-Fi, and Temple and Webster – benefited hugely in the early stages of the pandemic, as a river of stimulus flowed into the pockets of locked-down Australians, many of whom upgraded home offices, shopped online and embarked on home improvements."
https://www.news.com.au/finance/business/retail/harvey-norman-profit-retail-empire-suffers-first-loss-of-the-pandemic-but-investors-impressed-with-delta-rebound/news-story/72f8328fe6b106b13522f586b2455296
Same reason for the record Sn prices in the 80s. Everybody out buying home computers.
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