Weekly data and thoughts. . . Lithium Sector Overview- . . PMT continues to suffer. That big gain from mid 20s to mid 40s on announcement, is now dead, it seems. From a weekly perspective, a drop from 32 to 30. A touch of 29. If things go bad, all the gains from 24 will be lost. Just shows Li macro is so strong, whether we believe it or not. Hence I write mostly around that. . Major price action indicators though are not bad -
ALB - Gain of 5% for the week, moved from 77.37 to 81.21
Ganfeng - Gain of around 2.5% from the week - moved from 35.10 to 36.01
PLS/LTR - Loss of around 3% for the week
Spot Price - Down slightly for the week
. So what do these numbers say? Chinese play is positive. ALB has dodged a bullet coming close to its 52 week low but now over 80, a psychological number. rest of the players very indecisive at this stage. This can lead to slight decline, which we say in most ASX Li play this week. . So what may happen next week? If the way Chinese Li stocks are playing, and ALB recovering, if it continues for another week the danger of making fresh lows would have been averted. So lets hope it plays out that way. . . Here is the Figures for the Week:.. .
PMT Price at posting:
30.0¢ Sentiment: Hold Disclosure: Not Held
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