OTCQX:NTTHF - Post by User
Comment by
superscepticon May 02, 2019 1:09pm
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Post# 29701772
RE:2022
RE:2022Eric35
Thanks for your bids data, always help.
Between $1 and .70c:.
- SQM submitter report claiming continuous oversupply due to expected AUS mine expansions and softer Li prices, I believed it is biased (I posted arguments before)
- Tianqi reported year to year profit collapse, -83% (they used to 22K/ton, now Chinese price are in par with the world)
- Li producers became one of the most shorted companies due to high liquidity, bearish overviews above and high institutional holdings (easy to borrow to short)
As a result, spot prices moved down:
Index | Price | | Day | Weekly | Monthly | Yearly | Date |
Lithium | 107.75 | 1.08 | -0.99% | -2.84% | -5.32% | -15.70% | 1-May |
Today - volume for NLC is up, m/b oversold feeling and let's not forget one of the reason of over-supply is that battery makers overstocked in 2017 and partly 2018, now they are not only not buying as they need, but also selling. When they will hit the wall and start buying again, outlook will improve.
Li has bright future, but 2022 is far away. Many think next quarter. Temp. fluctuation is normal and poorly predictible in this industry. Can go down 30% or up 300%...