That's a great question.
I believe that a similar thing occured in the last cycle when the BMX was introduced.
By then the SC6 prices were very low (400-600$/ton) with no apparent reasons to move higher.
However once PLS introduced small volumes (5-10k tons) every 2-3 weeks via the BMX it created enough volume to render the existing spot prices irrelevant ( based on low volumes, intentions but not actual transactions..all very foggy.)it unmasked the demand sitting on the sides fishing SC6 at bottom prices very comfy while restocking inventories very cheaply...
Then fear kicked in (FOMO).... and all saw the risk of having to restock for a much higher price....
Will history repeat ??? Who knows, but it rhymes....
That's a great question.I believe that a similar thing occured...
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Last
$2.98 |
Change
-0.020(0.67%) |
Mkt cap ! $8.972B | |||
| Open | High | Low | Value | Volume |
| $2.92 | $2.98 | $2.90 | $38.78M | 13.16M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 15056 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.98 | 89928 | 9 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| PLS (ASX) Chart |