David Ocampo: Yes. That’s helpful there. And I guess if I think about your breakeven cost structure, just given that framework that you laid out there, are you guys now closer to CAD700 a ton of breakeven on sheet prices?
Rajat Marwah: Yes, it should be in that – you’re closer to that vicinity, may be slightly lower, but that’s where it is – as we see the cost now.
David Ocampo: Got it. Okay. And then a last one from me. One of your competitors here in Canada called out some customers deferring shipments just given the uncertainty that they’re seeing in the marketplace, whether that’s related to auto or not, you guys do have 130% exposure automotive. So are you guys, starting to see more of that from your customers or are there may be some pushback on taking delivery?
Michael Garcia: Hi David. Not really, we don’t have any large customer sector, where we’re experiencing that.
David Ocampo: Okay, that’s it from me. I’ll hop back in the queue.
Operator: Our next question comes from the line of Ahmad Shaath with Beacon Securities. Please proceed with your question.
Ahmad Shaath: Hi, guys. Most of my questions have been answered, but maybe back on the cost structure. So is it fair to say that we should expect maybe some downward pressure on unit margins per ton, but not a lot, given the comments that I’ve heard from both the cost and the pricing side?
Rajat Marwah: Yes. There will be downward pressure, specifically from the pricing side. As you’ve seen that the price has from peak to low by CAD400 and the market is at CAD800, but frankly it’s – CRU is at CAD800, but the market is lower. So there is definitely pressure from margins coming from the pricing side, which will impact the quarter. Now, our plate book is good and the plate pricing is good, which offset it as well as, as well as the contract position that we have helps us to maintain a decent margin for this quarter. And then it’s – from forward perspective, it depends on how the pricing – how the pricing shapes up.
Ahmad Shaath: Got it, that’s very helpful. Maybe back on your commentary on the volume side. If I look at the last several quarters, the range is pretty wide. It is pretty wide, I mean we’re looking at from 430 to 570 tons. If you look at the last several quarters, so are you – will you be able to give us maybe a little more color on expected volume, is it just the last two quarters? Because if I go back to Q2, Q1 last fiscal year, the volumes were – obviously it was operational issues with the volume was down?
Rajat Marwah: Yes, Ahmad. I think it’s a good point. Just take the outliers quarters, there were couple of quarters, which were – which are outliers. So take them out and then you average out, you should come to a good number.
Ahmad Shaath: Fair enough. That’s great color. I appreciate it guys, will jump back in the queue.
Rajat Marwah: Okay.
Operator: [Operator Instructions] Our next question comes from the line of Lucas Pipes with B. Riley. Please proceed with your question.
Lucas Pipes: Thank you very much, operator. Good morning, everyone. Thank you for taking my questions. My first question is, Rajat, I think you made some important comments regarding cash flow in the second half of the year in your prepared remarks, and I just wanted to make sure I fully understood those. So if you could maybe go back and just highlight your cash flow expectations for the second half of the year? I would really appreciate it. Thank you.
