Exactly -pretty hard to predict a bottom (at one point looked around 60-65c). Looks to be a difficult 6 months so no need for shorts to cover yet although this could change with a positive announcement. An early winter in China and a prolonged one would be good but who can predict the weather. Clearly, anyone who bought in the last 2 years is under water (some by heaps). I've had a bad case of falling knives myself. Not to mention long termers must be at witts end and could be out as well. 2024 looking much brighter so SYR need to control costs better for now and hope they are first in line for 2024/25 upswing while competitors are still developing. Climate issues ever present, battery manufacture growing at a rapid rate, China still on the nose and they have their own internal issues at present. I look for SYR to grow orders significantly outside China from 2024 and China still might need to sure up a reliable natural supply at least seasonally -price should go up!!
SYR Price at posting:
59.5¢ Sentiment: Buy Disclosure: Held
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