CIF = Costs +Freight +Insurance
Freight and insurance in Asia are through the roof.
Massimo Renon Benneton CEO "Today a shipping container that used to cost $1,200-1,500 can cost $10,000-15,000, with no certainty of a delivery date."
For OMH that translates to US$550 per ton FeSi from US$50 per ton - a $500 increase
Raw material costs have skyrocketed.
Semicoke is up 300% - For OMH from $US150 per ton FeSi to $US600 per ton - a $US450 increase per ton Fesi
Other inputs like labour too are on the up.
All up I estimate their current cost base +freight + insurance to be as high as $US2500 per ton FeSi
That probably explains the languishing OMH share price until recently as compared to GSM.
GSM doesn't have that problem.
Millions of empty containers are banked up in US and European ports.
You could probably get them for free.
UOB likely is aware of this discrepancy.
CIF = Costs +Freight +InsuranceFreight and insurance in Asia are...
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