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And then in terms of the spot price kind of advantage you talked to with the recent fall well in energy prices.
Asian Metal reported during the past 30 days, the 99.5% China lithium carbonate spot price was down and the China lithium hydroxide price was down.
Source: https://seekingalpha.com/article/4581070-lithium-miners-news-february-2023?source=feed_all_articles
In this case investors receive the closest exposure they can get to the spot price of a commodity, as the front-month and spot prices tend to move closely together.
It is, therefore, incorrect to compute what one thinks should have been the Producer Price using the current spot price on the international market.
Source: https://www.ghanamma.com/2023/09/14/npp-addresses-ndcs-claims-on-cocoa-price/
The closer the strike level to the current spot price, the higher the premium obtained for the written options.
The question for the market is at what point the spot price for LNG in Asia falls far enough to provide a significant boost to buying, especially given the summer demand peak is coming.
Source: https://energycentral.com/c/og/column-spot-lng-price-drops-level-thats-not-too-hot-not-too-cold
The uranium spot price is up only about 15%.