RE: SP8 Jan 2025 15:54
Q3 production 1,397,698, Q2 production 1,672,506, Q1 production 2,054,830.
I think the trend in 2024 is obvious. I’d speculate Q4 will be below all the previous quarters. I’m hoping for 1mt or there about's. That will put us on track for around 6mt 2024, about half the pre war production level. Not bad under the circumstances. Reduced margins however due to higher energy and transportation costs. Anything under 1mt I think the market will see negatively and we could see a further retrace. Followed by a bounce next week as we head into a Trump presidency. GLA