Rock Hoffman

any updated views on the 2 major contracts, which roll off at the end of this year?

with current Chinese spot near $27/kg, is there upside to that $20/kg market scenario guide if pricing stays at current levels?

does the energy storage volume beat contain any pull forward?

Any preliminary thoughts on 2026 CapEx?

what numerically is your underlying assumption of flat pricing? And if pricing does fall off these current levels, how much can it fall

Could you just go into why the 2H mix may change between contract and spot versus where you were in 2Q

Could you speak a little more to, the different scenarios which may get the demand to lower the higher end of that, guided 15% to 40%

Is there upside to that $400 million high end either in 2025 or thereafter?

would you be able to explain the wide range in the tax guide for 2025?

Could your actions including cutting CapEx and placing Chengdu under care and maintenance influence the broader market?