....ASX lithium major hodlers unrelenting and still in abject denial, and now trades in a premium relative to their American peers.
....But the American lithium players have their own EV industry to supply to. We don't.
....When market participants see that resilience, they hold fire. Rather than take advantage of 'arbitrage' - simply because you can't expect ASX lithium miners to go up when lithium price is continuing to decline and lithium stocks elsewhere are declining fast.
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At mkt close today, #lithium carbonate prices continued to decline. Average LC futures decreased by 1.21% surpassing average LC spot prices only by CNY 2,206 resulting in a falling contango. The main futures contract price was < the Li2CO3 & SMM Li2CO3 leading to backwardation.
Tesla's stock slumps after @elonmusk
says that he ordered $NVDA to send the chips previously ordered for #Tesla over to X and X-AI because there is no room at the carmaker's plant. This is only an example of how sensitive the stock market has become nowadays.
