Great find Stephan. I liked that presentation.
My favourite slides:
1) Promised = many delays. Everything is overrun, including from our own dearest. Says something about promised supply coming online. Something repeated many times throughout the presentation that can impact all forecasts made.
2) Increase in capital intensity that is further evidence in the new floor price. Our setup, is very profitable at this floor.
3) Without considering the possibility of future undersupply, as represented highly possible in slide 1, this is their figures. ESS could be much greater than predicted below. Shows a relative balance for the next little while before opening up. Supportive of current price range.
4) Similar pricing forecast to Fastmarkets. Like my post the other day. This is a good outcome that makes us very profitable. They do admit that it may be conservative, that is okay. The key is that this will probably be the floor. Most important.
A recommended watch.
