You raise a good point RR. China’s production line is finite. The question is, are they running at 60% or 70% or 80% or more. With all the money that is being thrown at renewables, EVs, air conditioners and high tech applications, they must eventually reach capacity. At which point the price of REs must take off. It’s not as if there are many alternative sources. Remember, China isn’t the only one throwing heaps of money at these. I think that China’s capacity is likely to be nearing capacity, sooner than later. Why did they only marginally increase quotas this year over last year? Maybe there was a logistic reason?
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