In my humble opinion, it's all about macro. China is sluggish and the rest of the world is only just starting to find its footing again. Give it a few months and the situation will look very different. If anything, low prices presents buying opportunities (IMO). There are clear signs other 'green materials' have turned a corner - we may just be the last in line.
We (LYC) are on stable footing, and building for the future. With repressed prices we have still collected $130m the first two months in this Q (we only need another ~$35m in June to beat UBS predictions). If we are close to $200m for the Q, that is still a run rate of $800m/year, not bad considering the market conditions.
LYC Price at posting:
$6.82 Sentiment: Buy Disclosure: Held
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