Papa, have you any calculations for the June 1/4? I would like to see what the contract pricing trend is if possible. If it is still trending up steeply, no problem. Just means the spot pricing variable for the pricing formula is not existent (negotiated outcome) or has a longer timeframe before influencing the contract price.
I would think existing customers have the loyalty factor balancing with what they may need in the future, i.e. if you want contract extensions or increased supply, pay up, now at closer to spot price.
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