That chart looks like a classic lower tonnage of consumption = lower prices/tonne.
This sector is for the contrarian who thinks all the bad news are built in with the demand ranging from the generic economic conditions to more exotic new car sales. Have a look at the coal sector and you will see bottom pickers are coming back probably based on valuation.
I follow Montgomery and recently he made a comment I have yet to fully understand and it goes ... "buying and selling will make you rich but LTBH will make you wealthy". I suspect this one dimensional statement has hidden caveats such as the moat factor and interim sentiment noises.
PLS chart, page-40
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Last
$3.11 |
Change
-0.090(2.81%) |
Mkt cap ! $9.360B | |||
| Open | High | Low | Value | Volume |
| $3.15 | $3.17 | $3.06 | $206.5M | 66.15M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 212414 | $3.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.12 | 1870994 | 18 |
View Market Depth
| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| PLS (ASX) Chart |