Not sure Kikker, and I always work on only 80% of announced nameplate (paper) supply coming online. On the demand side, I agree, and I also believe many are not factoring in the gap created by stalled expansion in 2019 through most of 2021, hence Macquarie's "perpetual deficit" call....
And I hope you meant $3.50
Good News & Bad News, page-6527
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