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sigmadelta

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13/03/19

10:46

Post #: 37743460
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Originally posted by Xerx: ↑

Hi Fred....Interesting article in * this January on cobalt price manipulation. A satellite view is helpful for long term holders.

”Mining entrepreneur Tony Sage is backing Donald Trump when it comes to the US President’s plan to reduce China’s stranglehold on resources.Mr Sage — who chairs ASX-listed companies including European Lithium, Fe Ltd, Cape Lambert and Cauldron Energy — believes China is manipulating the price of lithium and cobalt as it did with iron ore before the steel-making commodity hit record highs.“If I can take you back to 2007 to 2011, the iron ore price went from $US20 a tonne to about $US100 and the Chinese panicked,” Mr Sage told * on the sidelines of the International Mining and Resources Conference in Melbourne in early November.“They were the serious buyers. They played with the stock, they played with the spot prices and they held it down for at least one or two years because they were the biggest buyer.“They’re doing exactly the same with cobalt and lithium.”Mr Sage says the spot price is not reflective of what lithium and cobalt producers are actually selling their product for.“If you look at the long-term prices, if I go now and sell my future production in cobalt I’ll get 30 per cent more than the spot price.“It happened exactly this way between 2007 and 2011 with the iron ore price, and to a lesser extent the coal price, because the buyers of the material dictate the price.”

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Problem with the Americans is that they do all this posturing AFTER they failed to secure supply in the first place. Whose fault is it that someone else has cornered the market.

AUZ Price at posting: 2.8¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 1.3¢		Change 0.000(0.00%)		Mkt cap ! $18.18M

Open	High	Low	Value	Volume
1.3¢	1.3¢	1.1¢	$172.3K	13.93M

Buyers (Bids)

No.	Vol.	Price($)
1	31961	1.2¢

Sellers (Offers)

Price($)	Vol.	No.
1.3¢	2858718	6

View Market Depth

No.	Vol.	Price($)
1	31961	0.012
15	35460811	0.011
11	11139476	0.010
8	11110555	0.009
12	7341361	0.008

Price($)	Vol.	No.
0.013	2858718	6
0.014	3784514	12
0.015	2686028	11
0.016	5713497	19
0.017	4825979	13

Last trade - 16.10pm 14/11/2024 (20 minute delay)

AUZ (ASX) Chart

AUZ - chart, page-4348

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AUZ - chart, page-4348

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