HEG Limited CC-Feb26.pdf · 2026-02-11
I have two questions. One, like you were talking about China, so, how competitive are their prices versus ours, and what is their cost structure like, I am sure you would know? And secondly, how are the contracts for needle coke structured? So, if tomorrow electrode prices were to go up 20%, would the needle coke companies try and claim their pound of flesh or is that a contract linked to oil price?
Right. I am really just trying to understand, like, the last cycle that happened in 2017-18, right, when electrode prices just shot up, then needle coke lagged quite a lot and then they kind of went up. So, you had this supernormal margins for a little while and then they compressed because needle coke prices shot up despite oil prices?