And, if CJ's voodoo doll wasn't powerful enough, I can tell you all first hand that shipping container rates have doubled in the last 14 days. And expected to go higher.
Shanghai to Los Angeles for a 40 foot dry container was US$1700. two weeks ago. Today, it is US$4000.
This Red Sea business with Iran and the Houthis is dangerous for a 2024 economic rebound.
I have mentioned before that I am in the import food industry, and we are already adjusting prices higher for these freight increases.
If the Federal Reserve gets a even a wiff of higher wholesale prices, interest rates are off the table, and rate hikes may be certain.
So, we all know where that leads. Car payment delinquencies are already at staggering proportions. This is ABSOLUTELY what we we dont need right now.
Just as a side note, Google: Global Solar Panel Supply Glut. The industry is geared for so much overproduction, and facing such little demand, prices for panels has collapsed by 60%, and they cant even slow production until 2026.
So, the LYC $AU5+ print is not surprising. 2024 may be the year to dive in if prices for Climate Friendly businesses continue to decline.
Personally, I can afford to ride it out, but that is mainly because I don't know where to park my money, in what I consider to be a overbought market.
I will spit blood next week if I have to hear more "song and dancing" about a rosey future from the management team in the quarterly results call. I see AU$5 00-7.50 price range through late 2025, unless China stimulates very heavy and lets their tide lift all boats. Higher RE prices and higher production is all that will save us in 2024.
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Last
$7.10 |
Change
0.020(0.28%) |
Mkt cap ! $6.636B |
Open | High | Low | Value | Volume |
$7.05 | $7.10 | $7.01 | $26.26M | 3.714M |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 21895 | $7.09 |
Sellers (Offers)
Price($) | Vol. | No. |
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$7.10 | 46946 | 15 |
View Market Depth
No. | Vol. | Price($) |
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3 | 12243 | 7.050 |
2 | 33352 | 7.040 |
3 | 28567 | 7.030 |
2 | 21863 | 7.020 |
1 | 1398 | 7.010 |
Price($) | Vol. | No. |
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7.100 | 46746 | 14 |
7.110 | 21671 | 4 |
7.120 | 16285 | 4 |
7.130 | 14609 | 2 |
7.140 | 5927 | 5 |
Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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Last
$7.07 |
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Change
0.020 ( 0.02 %) |
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Open | High | Low | Volume | ||
$7.05 | $7.09 | $7.02 | 400096 | ||
Last updated 15.59pm 21/05/2024 ? |
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