Yes, they did very well but their fall from grace was also the largest.

It is positive that the metal prices have gained back a lot, and this in spite of excess processing capacity available, at least for nickel. I am not sure about all metals but I think the capacity utilization is only about 70%; so the high prices are impressive.

These prices may though partly be caused by high operating costs, partly due to energy costs, but also costs to all sorts of supplies.

If the economy does not tank, we should do well next year as well.

Happy new year

TAU