Weekly data and thoughts. . Please not that all my views are for short-term only, and I could be wrong, so please dyor. . .. .Please note that I was away for a month, also in very opposite time zone, so was not able to make any posts. This week's data, I have compared to a month back, so the change is for a month. From next week, I will have weekly data. . . Lithium Sector Overview- . . From a monthly perspective, WC8 had a decent gain of 26%, moved from 15.5 to 19.5. On a weekly perspective, flat at 19.5. WC8 is playing Li macro. The Li macro has not yet improved. No clear signs of reversal yet. Spot price still tight, still doing small drops every week. So it looks like more wait for now. WC8 has played slightly better recently, but has not got out of the danger zone. May need a big announcement of its own or Li macro to reverse. Till then it may be a wait. . . Major price action indicators were down -
ALB - gain of around 4.5
Ganfeng - Loss of around 4.5% for the week, Tianqi flat
PLS/LTR - PLS flat for week, LTR drop of 9%
Spot Price - Down slightly for the week, I think around 0.2%
. So what do these numbers say? ALB is trying to make a recovery, but not helped by both Chinese and ASX Li stocks. This has been the story do far. When Chines Li stocks took a lead, and Ganfeng was inching towards 40, both US and ASX Li stocks did not get ahead. We need all jurisdictions to gain, to have a sustained gain. Its not happening. So another waiting game for now. . So what may happen next week? On Friday, US Li stocks had moderate gain. General markets decent green. So should be a positive start on Monday, and then wait for Chinese stocks to provide direction. . . Here is the Figures for the Week:.. .
WC8 Price at posting:
19.5¢ Sentiment: Hold Disclosure: Not Held
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