Comment: As I said below, production cost is not a floor on prices

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In reply to comment: I agree. (see in situ)

As I said below, production cost is not a floor on prices

Why would it be? Your logic makes no sense. Price doesn't care what cost is.

Price is the intersection of supply and demand. Falling prices mean falling demand and too much supply.

A lower price is part of the act of creative destruction. Inefficient mines will be closed. Weak companies will be liquidated. Lower cost production methods will be found.

Carry on.

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