Hi Rocket, you posted this earlier, would it be ok if I copied...

Hi Rocket, you posted this earlier, would it be ok if I copied it into an email to send to a family member.

The Ferroglobe conference call and report shows what we can expect from OMH."In fact, global demand is up base supply, driving the index to unprecedented levels in products such as silicon metal and reached multi-year high levels across our alloys. For example, the latest index pricing for European silicon metal has been at all-time high at USD 8,100 per ton last week, up from around EUR 1,700 per ton just one year ago, an increase of 375% approximately.I am pleased to report that we are seeing fundamentals remain extremely favorable for a sustained pricing environment throughout 2022. On the demand side, our customers across the chemical, aluminum, and steel sectors are signaling healthy demand into next year. On the supply side, we expect the tightness, particularly in silicon metal, to continue. The trend to lower net exports out of China continues to benefit Western producers."You can see why Ferroglobe struggles to make a profit when power prices go up so much."Spain average EUR 45 per megawatt hour in Q1, EUR 72 in Q2, EUR 118 in Q3. Once again, these are the average quarterly prices and do not fully highlight the big inter-quarter pricing,which was EUR 189 in Q3.""With regard to 2022, the order book is shaping up favorably. Today, we have approximately 35% of our overall sales contracted. We are currently negotiating a number of other sizable contracts, which we anticipate to close shortly. With this contract, approximately 70% of our order book will be booked.In 2021, we had a higher weighting toward fixed prices, which constrained our upside. In 2022, we will have more market exposure due to a higher weighting toward index-based contracts. Additionally, we have built in more protections into our contracts in this cycle."The average prices received for the Q3 were good, but the power cost was a killer.FeSi at US$1,992/tonne and Manganese alloys at US$1,574/t.