I keep hearing the same old story about more converters needing to come online. There's always some excuse as to why the price of lithium keeps plummeting.
However, the one that seems to be ignored is the simplest of all - supply is more than demand and demand that the industry was expecting has fallen short of expectations. There has been an avalanche of new production come online over the last 2-3 years and demand hasn't grown at the same pace. It's going to take another year or two until the market is in more equilibrium than the current lopsided state of affairs where there is no shortage of supply.
It might be a bitter pill for holders to swallow, but it's a reality that short sellers had the foresight to see this in advance whilst holders were ignorantly bliss.
GXY Price at posting:
84.8¢ Sentiment: Buy Disclosure: Not Held
