Likely a one-off sale to a smaller Korean company, may have not looked the greatest to say who it was. If it were a tier 1 in it's field, JZ would have said it was a Tier 1. If it were for qualification/testing, this also would have been stated.
I thought it pretty comical AGY's sales price is referenced from Fastmarkets - as I remember a time when a select few were throwing shade at fastmarket's benchmark pricing, as if it were not a correct standard to go off, even at a time when other spot market sales were based on this (as well as BMI). Embarrassing for them.
Pretty poor decision to make the sale of 20t now when the lithium price is in the dumps, when they had ample opportunity for a long time when it was quite a lot higher. Easier said in hindsight though, I can only put that to them not thinking they would be in the current situation they are now.
Happy to see them move product though. But confirms that they don't really have a plan in place, as previously mentioned, first it was always intended to sell product from the 2ktpa, then they changed their mind - it was being "stockpiled" for the offtake partner (we all remember that "quarantined" word salad), then it was not going to be sold until lithium prices improve.
Looking forward to reading the company update, more specifically the 2ktpa production numbers.
AGY Price at posting:
8.4¢ Sentiment: Hold Disclosure: Held
