A bit early yet on China reopening, they are going to need to go through the Covid / Omicron pain (or more) than the West / RoW did, countries that that had a program of vaccination. China refused to import Pfizer / BioNTech or other similar effective vaccine and it is reported their own developed vaccine is no-where near as effective - hence I say 'or more' pain, there is no escaping going through it whilst the population build up resistance to fighting Covid.
All of this is to say IO price on a China reopening is too early, but will certainly be a Q1 23' story into Q2 once they get through Winter imo.
[Even if TI1 don't supply China directly, it effects the spot price and the global volume demand].
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