chartooking at a perfect from a quarry that shows the recent rally be of seen in metal a disaster going. this is global alumina production. the first dotted line is the shanghai price. the other one is the premium. all of the production low the first dotted line is making money right now. reductionlion tons of -- production is making money last year. 45% was not making. the rebel you see in the chart has been shutting in a lot of -- purple you see in the chart has been shutting in a lot of china. now they are making money on the restart, what they add to the huge surplus they already have on the market, capping any rally and exacerbating any kind of oversupply issue. alix: this is a whole vicious cycle in commodities. all right, i want to talk about valeant, one of my favorite stories of the week. we have them in top with vendors to what they will demand in exchange for waving a default. we know they have been exchanging -- struggling with that issue. we have the price of one valeant 2022.oan in the red line, it has been increasing, which you might not expect. 'se thinking is that valea