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3.4¢ sayona mining limited

Close of future on 16th Jan 2024. May be that is impacting -...

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167 Posts.

18

03/01/24

18:56

Post #: 71714244
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Originally posted by Rota16: ↑

Any thoughts or theories on why such a large drop in one day? China's production has traditionally been slow in January before the New Year. Alternatively, some may want to start restocking, but at a lower price. Throw a whole heap of lepidolite into the market to reduce the price, but how do those lepidolite producers operate at such low prices?
I guess we can still continue to produce and provide for the PLL offtake, while we wait for the spod price to improve again. I don't think it is worth selling any spod for the JV at these prices. We were only looking to sell around 50,000t (in addition to our first shipment) for the JV this financial year anyway. Hopefully they were able to get at least 20,000t away last quarter. If I had to guess, I would guess that prices will start to improve after CNY. I have seen how some of the larger producesr are either already reducing or considering to reduce their output at these lower prices, and that was before the 18% drop today. That will have an affect of reducing the supply to the market. While higher prices was a cure for high prices, equally lower prices will be a cure for lower prices.

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Close of future on 16th Jan 2024. May be that is impacting - traders closing long positions.

SYA Price at posting: 6.6¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 3.4¢		Change -0.001(2.86%)		Mkt cap ! $349.9M

Open	High	Low	Value	Volume
3.4¢	3.5¢	3.3¢	$739.7K	21.74M

Buyers (Bids)

No.	Vol.	Price($)
119	26637024	3.3¢

Sellers (Offers)

Price($)	Vol.	No.
3.4¢	832419	15

View Market Depth

No.	Vol.	Price($)
5	743622	0.034
122	26837608	0.033
88	22627378	0.032
46	21383912	0.031
89	14256434	0.030

Price($)	Vol.	No.
0.035	16529404	81
0.036	9475890	33
0.037	2855687	14
0.038	3974762	18
0.039	2597686	16

Last trade - 11.36am 26/06/2024 (20 minute delay)

SYA (ASX) Chart