I don't understand why you guys refuse to believe that there's more supply than demand. The "China is suppressing prices" narrative is really long in the tooth. It's a deceptive tactic that holders are using to deflect what's actually happening. New supply is enough to satisfy the demand profile. So the price will come down to a point that knocks out enough supply to bring the market into balance. Enough supply hasn't come out of the market to bring the market back into balance. All the big producers are still profitable and increasing supply. The price still needs to come down to a point that producers are feeling the pinch and not recklessly increasing supply in a market where demand hasn't lived up to lofty expectations. It's not rocket science folks.
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