LRS General Discussion, page-18394

Some more green week on week moves this week, but nothing particularly exciting - the larger moves were made by the stocks with some of the worst fundamentals/risk profiles - CXO & GLN.

Producers are still getting sold off and short positions aren't reducing at all (PLS, LTR, SGML, ALB). Unsurprising given spot prices continue to decline:

Spot carb now below 89,750
Spot SC6: $950/t according to Platts or $1,019/t according to SMM

GFEX Futures: Also continued day on day declines finishing 91,350 (November 2024 contract).

Worth noting that the current spot carb price suggests an SC6 price of $830 could be on the way (a price that would effectively sink SYA and potentially ruin LTR's valuation for a good 12 months depending how long the price stayed there and how expensive their first few quarters of operation are.

June quarter results are due over the next two weeks and the market will be watching every producers operating costs and for developers, the question will be cash balances (including LRS).

The only good news I see is that BYD and Tesla charts (see BYD chart further below) are looking extremely positive (but this obviously doesn't translate directly or maybe even indirectly) to lithium developers and producers.



BYD since the February low: