At this point, I expect demand has returned to FY20 peak on a run-rate basis. (Taking into acct the fact that distributors likely over-ordered in FY20)
Also worth noting that a big competitor, BASF (based in Germany), is likely paying obscene amounts for energy... Either they continue producing at a loss, or there's a free-kick to take more market share.
Similar story for EverZinc (located in Belgium)
Ann: Appendix 4E, page-16
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