Seems to be mostly money tied up in increase in inventories. Not sure that makes a lot of sense. Perhaps they have to pay electricity upfront whether they use it or not, and that is included in inventory? If you shut down furnaces that would lead to a rise in electricity inventory, but on the other hand would lower your product inventory. Prices haven't risen spectaculary either, so I guess that would be a good question to ask.
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- Ann: Investor Presentation 1H 2023 Financial Results
Ann: Investor Presentation 1H 2023 Financial Results, page-11
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