Too early to say that in my mind, there will be a bottom somewhere and maybe we've seen it already - maybe not. But with a reasonably thinly-traded futures market, it's all highly speculative. That's why I think that a more reliable indicator would be looking at what the big players are doing, i.e.:
- Chinese companies locking in offtakes with majors like PLS (possibly positive for the 'we've hit the bottom' narrative)
- Albermarle raising a big chunk of money to pay debt and cover existing capex (not so positive)
There have been some great trading opportunities with so many investors desperately wanting the 'CNY re-stocking' narrative to be true, but considering the best performers on my lists were often the companies in worst shape (AGY, CXO, LKE, PLL, VUL) I haven't been super convinced by the move yet.
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6 | 1194214 | 0.105 |
15 | 1152057 | 0.100 |
1 | 10000 | 0.096 |
1 | 65000 | 0.095 |
Price($) | Vol. | No. |
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0.120 | 535000 | 5 |
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