Another week with vey little activity Every thing was down but just a little Noting more than 5 RMB. NdO was unchanged. There was another 3 RMB drop in all magnets that is the fourth since mid May for a total of 11 RMB This week I will post the short term chart.
Over the last couple of months I am starting to change my opinion on why REE prices are down. I use to think they were down because of government manipulation, low demand made this easier. I would say my feeling was 90% government actions 10 % demand. I have been changing to thinking the Majority is demand driven now Vs government. My primary reason is watching Chinses production figures Vs prices. They are both going down. JMO this means supply and demand is controlling prices more than government. there are other signs Government keeps raising quotas but manufactures keep lowering production. NRE list price is below spot price.
If this is true it has advantages for both current holders and especially for people waiting to buy. Demand driven means we can see increases in demand far earlier by watching what end users are doing right now. We will be able to see price rises earlier rather than try to predict what a dictator will do.
The surest sign of a change will be prices and China's production both going up at same time.
LYC Price at posting:
$6.15 Sentiment: Sell Disclosure: Not Held
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