as a much to to the run-down joining could Pete, you for If thanks you this Slide last turn of to very give of quick and us I'll all afternoon. we months. of couple please. always X, Thanks
and to start his a you always Terence Wilkinson, Before counsel. relevant was the of Chairman, on was in operations, balanced, mining helping was recently a sustainability the joined and ago. He own experience a of weeks He us consistent, in really director. there long CEO passing he couple as us a and a plus had metals non-executive in probably our of focus Terence the He excellent right. great guide provide term calm value in mid-XXXX. we we industry, really that our just lot capacity of noted background that in and announced
obviously to along miss to a his him our supportive sincere Lastly, Terrence greatly, of lot friend wishes was us. a family. best and We'll passed we've true
Several the the Andrew years acted quickly in saw, months earlier several onto welcomed served had the regard. you Andrew had Board. for As for Michelmore back ago us this in we which metals latest mining on decade CEO companies, of had major a of substantial of from retired MMG. the recently Board. as was which a and CEO He our Board he the experience
who Cash commodity largely the caliber of don't expectations respect, you flow industry most that by let's Company. really majority There pleased off per For knowledge things, are during diversified In know, started. panoply someone was we're We important extraordinary just role. factors of conditions tick really those the them let With owned Kong listed deep is in and aluminum results Hong market. me his markets also the several has and impacted now a quarter to behind us. a really, is that's in as quarter the the Craig our the it's about is we quickly trending of now this Andrew you you've here point had impacted way give other of of and and will largely were by many this most here. some then and of detail of China them. that here Minmetals have that get seen course. us as that behind think good of expected by The more The company
price. aluminum in First, rise you had a
you've to in inventories, aluminum not of seen more that that's moment. of in the just a and that cover other detail was course quantity the our an Of had going decided I'll the in supply. We our stability decision increase a way. ensure
in first Sebree at Again, from and first then fills I'll second high at to chase of that's seems alliance the that a get seen in restarted the risk line as this, market to be and the don't now. raw Hawesville, that's severe just the dissipated. of We like priced line materials a cargos moment. want and in ongoing position to had You needing to have you've
had we'll you flow the to more the X we will good line into line give X At restart spending And full detail now Sebree have. in production, Hawesville. which Again, of Again, a on we'll insurance missing remaining spending back that. the full the receive from outage amount then chunk coming now and cash Craig at of had restart the get that. You proceeds. itself detail quarters the
you trends that quarter. of So impacted the the now Again, cash of during had most a bunch those direction. in going here other
industry my perspective. and downstream of detail markets Pete remain XXXX, you importantly, Key along, of strong. and sectors U.S. some quick our Most U.S. about a the couple growth year key just seeing results in outlooks. seeing comments come to to the at European growth in give minutes also up of Global demand but couple Moving to will in make looks words X% the on into environments in record me let put are we're end We're good positive just the most set at during reporting the supply continuing X% X%. and countries. about aluminum rest primary
tons now call throughout of XXXX you're primary in in And So deficit aluminum you're forecast inventories Predictably a of large decreasing deficit million two supply seeing just chain beginning not warehouses. seeing this of the course. similarly produces XXXX. a the to for almost in
geopolitical on have interest bound, subject the macro this aluminum around discussions, may factors, the the strong somewhat industry we that all to rates, people has of trade cetera all et range been year, as it's obviously just be a simply itself lot a et lot price issues not swirling focusing other global cetera. of know fundamentals. been Given we institutes think adequately The
pricing both kind that's buyers in the feel And sellers and that absolutely Of been that's similarly, of per of volatile, that an others value $XXX alumina. environment the course convinced understatement. of market pretty aluminum in confident is we're ton. extraordinarily fair the remain We low-to-mid aluminum has perhaps aluminum this
and looked it's you more now might $XXX than days shut that. time the the past traded believe entirely. down that And before know, Alunorte fall. this it'll level we We're of As back like continue halfway down than to it couple to panic when it's more since recent refinery obviously
the finalized get where believe to remain So fair to we issues in price is. order to the value down be obviously two that
this The relating operator once The has And Alunorte received. are bring full to to consistently of full done Russo. course the months permissions to is then resolution production. need a of the first receive course, could sanctions of said the second in of be matter back to we permission refinery
the the for and that time. period surplus should up During requirements well its years. the market us are that of for disruptions cleared confidence rebalanced. these successfully over uncertainties, some in alumina And market just further period issues very the company setting up We're coming a importantly be balanced likely the has also and of physical gives once
multi-year period executed and we seen we good is portion recently to And for for this U.S. through good a contract You our that the progress make XXXX. year XXXX of have five requirements announced. may a
our and plants. Kentucky believe and based the partly The contract and pricing counterparty that on The favorable material really commodity steadiness good price, largely you'll finally important individual And on comments we've risk. economic. material on price pricing the inputs. partly see from earlier based is spreads this peaked expecting the we're as process we that like be market seeing a quality the sourced which few year, for the it now the seeing fixed in the excellent a of in index. plus partly innovative logistics So traditionally will on bought. make minutes. itself based Louisiana costs obviously results are key in structures And some when percentage to Last, is easing. been of in Coke other the third our I our just refinery some plants quarter the a we're in and looks the It's in most is of we obviously from alumina
the along Hawesville. restart moving on-track other at that Okay, is processes,
back our intent the late to that As reminder, were three pot in XXXX. restart lines we curtailed March announced in
we chance reminder quarter. line seen numbers, per fully of these approximately the a during as of As produced quarter. you've when a the just metric to the each shy through is tons as producing for had September, XX,XXX for lines full Hawesville if it good third during expected, go at quarter a X,XXX tons And you first operational was
line little fully and expect schedule. And have fully operational operational during to line before that be ahead continue to over the We So few began last and first to expect weeks be growth ago QX. in we itself quarter. bit restart a end, year we continue to the of one the pot line this we'll QX just second the
changed the press quickly you on the the So, poke of spent also announced it on will the none those you've $XX assumptions changed, Craig and since project consistent on of spending. we Project through back March. September the some again million seen data million $XX budget, give budget, we've more Through release. as remaining timing have in remains
been lines XXXX. an The That's project. the spending. the a this with saying, in that reminder, $XX sometime technology phase rebuild existing in comes then variety is aggregate to of phase That's million between of is we've about a the And they'll two and XXXX of of upgrade. first the the million. happen second $XX phase As projects next aggregate as
Moving returned of production end along, Sebree as ahead towards the little again full quarter expectation. the you've our also seen to of a bit
that the due you the end about and topline attention loss process to restart during production full recall plan with now some at to The done Craig detail spending will equipment was to really quarter As more well is lost give again capacity. and failure of we we safety. May. extraordinary that third excellent the restart back the
buy from still power the three had versus we this XXX will to for the contract Essentially As from is in-state Holly's for you and as the the you ago, that we similar saw expires megawatts third-party that’s announced require what year to in finalizing one we the that economics we’re power the an December last know a But look extend years. agreement buy two now to of signed the that pretty in years. sources XX much Mt. megawatts third-party couple process weeks the supplier. we we power contract same that
the You global remind - power on cost you or definitely got quartile. power a And fourth quartile in you the XX% XX% third even the price of competitive in second have very at the maybe then curve. the to
and So simply that a stuck a yeah couple path high And do the as weighted up of with pleased for the quick is continue uncertain the assessed continue average of minutes. there the buy market follow they objective in due set given power give provider they who a us us most value just two time. we’re look importantly industry. their a years in our power are product that for period been going this reasonably power and situation questions But we data a that once us folks we you plant remains absolutely find give market. makes long over you that these really really we pot employees good for important year long, mix. is for to all back you for couple that structure to times is to undergoing a value the has them that and is before plant and both in Bottom preview price. and this of the vigorously. path the the team believe it’s support see cost a parties intend like really, capacity. I’ll run now families know that long to the full the have And I’ll the quartile significant is really all a we're here Thundering company third as competitive because time good the and quarters regrettably developing comments the built that know line really and That extension logically getting is operations XXXX we uncertainty. your a status convinced you Pete do for talent do third-party there situation The solution We before there think We plant community. because some believe does in-state production on next to those difficult for of it sense taking to give well to the pursue to the of what the is from to we dynamics lines might
