Good question - note their focus last time was on Silica, and there was collapse of the silica price during 2016-2018 (note pre-trade war). And these prices were basically below cost for a lot of smelters - even green-energy. You'd have to own a power plant and have the smelter side by side, and be running at a loss leader to survive at the 2016-2018 period, if not even 2019.
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