If the spot keeps falling it will force the marginal producers to halt they will need to go into c & m thereby restricting supply, which will put a rocket under the spot price. It took PDN more than 12 months to go back into production, so if the small or medium players fall away it will have a major impact..
There is a point where forcing the price of a commodity to low creates an imbalance.
Also the small players will not get funding at this spot price.
The other unknown is if the orange tan dude is making deals with his mate re dividing up the spoils from that war torn country that has a large quantity of the yellow substance in their hills. The supply line would take a lot of $$ and effort to bring on quickly.
Everything I have suggested indicates an imminent supply crunch, so I cannot see what the shorts are aiming for ... unless option 3 T/O but I do not think so
BOE Price at posting:
$2.73 Sentiment: Hold Disclosure: Held
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