Pete, the thanks joining of to page of you lot, afternoon. we you a give last over We'll all and a could for If to rundown couple X turn this us Thanks months. please.
to signs from at a year. day other First, with other hearing This you're see the we including the what people, some is of obviously. global have in macroeconomic lot towards end hopeful the begun consistent the conditions Fed the of
continued this sectors bottom economy, the manufacturing developing the ago. that in improved a included China. was optimistic of in There reached even This and perhaps cycle, had of other a signs consensus an U.S. some few and most indicators Europe, and in activity we U.S. in strength mini the quarters coming out
the this, the end supported agreement towards by U.S.-Sino of Phase to of trade of course, reached be All one the going was year.
stabilizing, had all to product rising in and good a price that consensus to begin was this manifest look further and go. be beginning commodity specific in off markets, a to signs healthy to mirrored premiums with that in firm we where that a and thesis could the our deal saw was the soon contango come it firming, they demand meetings inventory forwards, This feel
it's development the works the picture threw of would to be think past look similar coronavirus back the will of will in be unclear reasonable rapid. impact economic what of bit spanner we the a This and be bounce point, will near-term course, the it's but that events. assume the Obviously, consistent this At with here. short-lived like,
to back virus attractive before Going quite otherwise the for looking end of us. the the the year, was outbreak, environment
raw First prices were favorable and material at levels. foremost,
course, been per of price the of the metal has a the XX% commodities, have outbreak. before metal level due price than meltdown mid-$XXXs a less Of somewhere course, price, that ton, aluminum the what the settled in to seemed represented supportable little virus to in
Given in dynamics we alumina from the the believe the a results some rational market, will significant price. and improvement this our level persist. in aluminum in through for you the supply-demand Craig was fall the take will time
realized QX is expected, our of As in we good a cost that portion it this sales. quarter of
we're prices this has all nicely exposed for fall to U.S., plants importantly, QX, all Kentucky which priced have prices the MISO power the year. this you commodity nicely. Indiana gas decline the and down the know natural the to was the trend for Very two specific. price coke Other that and to versus In as spot is the That's Holly. be data Hub price had Mt. notably continued continue to continued QX into as
relevant specifically Nord now is system power wholesale price. the price, European us Pool Also for
of was the talking of in replacement November. been we've about the three changed one contracts contract the time, As XXXX. from Grundartangi the power start-up This original for planned for power in beginning some
Again, which it plants, to as contracts market-based is the two XXXX. is we Kentucky the This through favorable us terminated Pool similar the for to the power XXXX. the in power so price. plant's just old runs and As very have it's contracts have we day-ahead referenced been Nord new for a the since of reminder, reminder, about a XX% requirement contract for
recent We power we were which This the said, impact price EU impacts price. largely but taken in strongly control pretty European across believe some excellent That the to emissions the power offset allowances, December, in linkage directly the price was that government plants will a still and work actions volatility is market up deliver for its due over to this prices. at by with of the expected. seen we've That contract the to level drive cost November results we high and term. able
price down those markets couple seen last the of follow over have months. come who you, significantly of the Those
you that detail the will November Craig quarter reduction Grundartangi's This from XX% of Just is and a than percent costs price ahead couple minutes. by result first to in the on give average. nice day in a and X-X in you will a sense down December just that power in QX in give more the all
a good place year purchases this potline of exposure Hawesville. the forward in fourth of hedge for in last to to These XXXX. recently forward addition amount limited protect at for the of investment power, of are opportunity restart this put we part used to purchases We've MISO the
remember, talked middle we in about you last to As the you of that year.
$XX of Midwest, again positions that all this mark-to-market all current to the for restart purpose sales positive to on some and these will some for The LME this. is net modest largely Additive of slightly forward million detail give you investments. us on Craig same is position protect and
of that time. XX% requirements. contract the new more for to It's important only One is Grundartangi's power remember
two linked contracts fully other remain the LME. to The
continued but performance remains country -- the couple bottom-line quarter I'll New our plants operating people. all commitment the and give fourth of the this It's plant Safety an enormous rather. result of Year. really into on by work admirable really a performed of in in has the nicely detail across you some amount and company of all a performance minutes, by
importantly indicators and has the really stable all control performance remained at tight. operating remained expected cost are levels plants have Key at importantly and
manifest. give of quick just me control how examples it's and you Let two cost the
have you'll profit XXXX. gross the when look they're First parts time was do at some moving But obviously essentially if the let you flat year that a the the you appreciation. full give an XXXX me you results that in versus see XXXX take on press can you detail that'll to gain attached -- release
costs of $XX slight million the course price improved and fall million, represented importantly a offset was $XXX XXXX. cost prices million a in EBITDA of and $XXX in prices decline product-mix prices principally XXXX year-over-year. improvement This commodity LME controllable million lower material together of us a that or of alumina $XX The profit gross versus in EBITDA power other improvement and raw by
take breakeven. the company's cash at flow you importantly to a need really look Second,
you provide company of this those followed you while As every a who for the know to we year.
at which company a it's SG&A, bottom net et breaks interest LME equivalent line As cetera of It's the taxes CapEx expense, et the everything. cetera. level even. et reminder, cetera
even up ton. that significant you data XXXX Obviously, of a you'll of Midwest $XXX couple the cash of And drive is all a equivalent fall breakeven those XXXX being lowered LME the see from gives the XXXX in in Craig fall equal a breakeven. just these and else two the after this in value-added couple premiums. by minutes, in when And to years, we've that
context. So that that in more $XXX view is even in notable our
strong the metal the combined even favorable well environment. gives improved excellent company to material set produce flow described cost a which cash up environment, really confidence raw is us slightly I control and This that price with good
Okay.
a move Let's about Hawesville. on and bit little talk
potline As right the the cells of told schedule. the Xth XXX rebuild process October we starting We're now. in you the is in on of
plant to will potline XX% fully quarter the full be end expect We its running continue be to at the of by point the which of the capacity. operational at
when the the process production producing result at the back better increased that of cell the Xth the with of decision begin rebuild obviously to pending the metal full Importantly now our The performing modeled that or expectations. standards production. the plant bring is lining plant levels at high-purity than new potline will to The for the stable. plant is is is
pause brief latter the time. get the be even period hit last for from market the started the parts we rebuild with during this said what the of starting the weeks line much we you of production That couple over this dislocation we've of will year. point in a just at even Given believe the if button wouldn't
bit our of know line rebuild you nine the full to six months. every of takes As
the So as expectations we Craig expect of will for to brief year Hawesville capacity produce our at XX% you when gives he year. you the for
required who've we told to is in all whether citizens now on been our was that decision In December you the form the of through utility. the referendum Moving that progress municipal of moving refer voted those City Goose situation the the as approved. detailed and utility and to good September, seen Council various processes the South Creek And have a in city on to you held following the proposal was establish Carolina. developments to
through provide at we've capacity doing running new the XX% the power procured That's much the intend power XX% very from ourselves wholesale like We it. market. third-party utility the the years a contract of for to been for which couple at been would us sign of last plant's the needs with which of we've
XXX% a city of to the capacity. us plant to really it second the to And excited XXX% provide of us return where we to at decision here. run The with the the this There's plant is take still the concept about course the would would We're done. be utility power, lot of to enable here work that immediate an of prospects rebuild potline and require full belongs. capacity
exciting. been to some like working we've quickly on just which you to I'd pretty think new describe which we Lastly are initiatives
may sustainability is certified its seen value defines ASI in the environmental, and Stewardship chain. The governance standard to have you aim first the and recently was and Institute. criteria principles aluminum is performance Aluminum as address social issues Grundartangi by
successfully course third the It We're carried enormous certified really, the puts space a the requires across hard and our criteria vanguard proud work the aluminum party. and of XX the certification team. The out Nordural of community. the the in of of commitment ESG by really primary business satisfying audits
and this customers' to our Nordural us working requirements. for in across will product. in this growing recent addition call an low establish quality European regard. help interest COX our in allow aluminum This green announcement Consistent respond objective type you economic this process, At good is saw in there this has been some of to the customers to customers' designation with reputation certified we a differentiated their already we've aluminum. point, be base at benefit could Natur-Al this point to brand really and it customer the hopefully its our supplying future, our serve to
you'll the you a have see you some first If chance, page representation some and two see its and the the industry-leading you'll of of indirect quick Natur-Al, marketing a And about what COX take materials four, of at direct when including facts footprint. flip like. page, the a at next pages look appendix look
years. One words couple our in other of new customers' the time initiative, processes, essence, you of point been more very modest melting this mixing them we couple about their I'll we'll as and business In a it from new it last with smelters, scrap at a just this the couple of We've manufacturing course, in from taking move year. through detail good of it, talk a to had of say the our form products. we've with giving scrap over back and prime in
Those well Sebree aluminum. product ourselves. of a and and this scrap development and in their to the capability, as the who melting makes spare these spreads market the watch have attractive like U.S. each casthouses finished producer capacity markets incremental more very that you of plants Mt. for make can produce significant have Holly seen primary as
involved. of these bit incrementally be that's So to into nice plants handle of We logistics would at success this want stream metal can pace exposed add and cash efficiently recurring it we a flow we'll the confident year. production primary a the and processes not to this at measured getting during to price. take both prove a business of We're the
to words industry give about Pete, a I'll say few the you environment. that, with to And
