China's covid and economic slowdown is getting pretty aggressive, so that has made it all come a little faster I think. But it will end faster at least.
If you asked me 4 weeks ago, I would say under 500k was impossible short term, but I could see it now - with the Chinese new year, covid, and recession concerns - but if CPI numbers in Jan/Feb are good the US might not raise rates as much and we could see a swift recovery and shallow recession.
Interesting times are ahead that's for sure! Probably be another 10-20% drop in battery metals and I expect it to bounce around for a while, but there are also plenty of worse-case scenarios out there if CPI gets a big uptick for some reason.
The turnaround will be fast though, anyone who caught the July wave remembers 100% gains in a matter of weeks.
Great for anyone who likes to follow the macro for entertainment that's for sure.
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| Open | High | Low | Value | Volume |
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