SYR 2.80% 52.0¢ syrah resources limited

Just read benchmark minerals latest report and it seems to agree...

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    Just read benchmark minerals latest report and it seems to agree with Syrah's rep, as opposed to the mystery U.K. brokers.

    "Despite this temporary respite, industry sources have voiced concerns over the short-term prospects of the market, given the abundance of concentrate supplies."

    Re Renminbi depreciation not being a factor, i disagree with the U.K. brokers reps here given the following sounds more plausible/objective:

    "unlike other competing battery materials lithium, cobalt and nickel, the majority of global graphite is produced domestically in China. SYR as a graphite exporter to China is at an increasing price disadvantage on CNYUSD depreciation, competing with domestically produced graphite sold in CNY, which converts to a lower realised USD price for SYR. The CNYUSD is down ~4% since 30-Jun. This equates to ~US$20/t from JunQ pricing."
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