Take note that spodumene SC6 price has now started turning.
This could be an indication of what's to come and flow upstream into the refiners.
I suspect now that Li spot prices have bottomed and we can also see that there have been shorts starting to cover.
At the moment there is also an arbitrage opportunity for the refiners. They can purchase cheap Lithium Carbonate and convert into Hydroxide to make the difference. Historically this margin has been minimal as the cost of conversion is around US$2/kg . I envisage this gap to reduce in the coming weeks.
Given our imminent newsflow , and all this considered, this could set us up for a very nice uptrend! For the chartists out there, we have broken out today!
Take note that spodumene SC6 price has now started turning.This...
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Last
17.0¢ |
Change
0.005(3.03%) |
Mkt cap ! $80.57M | |||
| Open | High | Low | Value | Volume |
| 17.0¢ | 17.0¢ | 16.5¢ | $420.7K | 2.493M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 334361 | 17.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 259700 | 6 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| GLN (ASX) Chart |