You are correct MoM and YoY sales are increasing. I acknowledged this in previous post. Further I acknowledge that total sales are increasing. Im not disputing any of that.
What I am trying to get across is that prices are just trending to sales and sales expectations. They started to come off in Oct '22 and havent really recovered due to overflated forecasts (largely driven out of China). Inventories are running low and have been run down on purpose as converters dont need the raw materials. To summarise, they have enough. The expectations of higher raw material requirements never eventuated and here we are.
There is a key question that must be asked. If demand for raw materials is so high why are prices going down? It's not acceptable to say China are manipulating the price. If they have commitments to fulfill then they need raw materials. How would you scramble for raw materials but at the same time force the price down? It doesn't make sense. I understand this is a popular mantra on HC but its nonsensical.
Spodumene Prices, page-3399
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