This supposed moron disagrees for several reasons.
Sticking to the most recent years, the quotas for 2022-2024 were 210, 255 and 270kt. The year on year increases were 21% (greater than market growth rate) then 6% (less than half the predicted 14% demand growth for magnet REs).
(See https://www.iea.org/reports/global-critical-minerals-outlook-2024)
After the first increase prices tanked big time .
So they've tightened supply this year compared to demand growth. To encourage a better balanced, viable market.
Have they done it for Lynas? Of course not. Their own manufacturers need to be viable and to purchase feed stock from miners (local, Myanmar, US etc) who are viable. They therefore need market prices to improve as pointed out by AL, Pol, Aus and myself.
Maybe your straw man is a moron but he certainly doesn't tell it as I see it.
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$7.06 |
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Open | High | Low | Value | Volume |
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---|---|---|
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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2 | 1422 | 6.980 |
1 | 160 | 6.970 |
1 | 300 | 6.930 |
1 | 29 | 6.920 |
Price($) | Vol. | No. |
---|---|---|
7.080 | 480 | 1 |
7.090 | 5000 | 1 |
7.120 | 26300 | 4 |
7.130 | 6291 | 4 |
7.140 | 9857 | 4 |
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