Having had some time to digest the BMX outcome and read others...

Having had some time to digest the BMX outcome and read others on here, as a LTH i must say I'm a bit disappointed tbh.

1. the price discovery was potentially based upon fewer bidders and achieved in a less competitive environment than an actual auction.
2. Selling prior to auction suggests weakness in the market imo. If it was strong - why settle early?
3. the price achieved, given the delivery date, appears to be below the futures price trajectory. Even linear growth from here exceeds the achieved pricing.
4. the resultant publication of pricing imo may delay price recovery especially in light of Xi's 'public' announcement via Glenfang that Li pricing is due to 'recover' to a higher level than the sale achieved.

I suppose my main point is that an auction would have more thoroughly discovered ex price than a presale. The result could then have been kept confidential if not to expectation.

I'm not fully convinced that the publication of the price achieved was beneficial to PLS moving forwards.

But I'm obviously not in possession of all the data.

just my musings....