BMX auction tipping comp, page-409

..if you believe fast markets. The fact is fast markets are trying to guess the near term future of spot sales. Good luck to them. The delivery of the spot sale of this shipment will not happen until February next year, then it’ll probably take a couple of months to convert to chemicals to sell to the cathode makers. Converters have been buying spot spodumene at a premium because they know that chemicals pricing is rising, so as time goes buy they know (or hope) they can make their margin. But what will chemicals pricing be say next April or May? Probably higher than where it is now leaving a huge margin available to the miner. Kenny bluntly said that spot sales will breach $3k at boom in the room. I call bullshit on fastmarkets’ “prediction”. I’m tipping $3000 usd @ 5.5% (previously I’ve said $2800) I’m upping’ it