Agree informed, what a margin crunch.But keep in mind these guys...

Agree informed, what a margin crunch.
But keep in mind these guys are in lowest quartile of cost curve, imagine the pain and losses being racked up elsewhere in the sector.

Supply shut-downs will have to follow for more marginal producers.

wild card will be if Russia gets sanctioned on LME as being recently considered - anticipation of this risk may lead to some aggressive short term supply br Russos to front run sanctions.

Other wild card would be change of strict Covid policy in China but hard to see that possibility at moment.