We do not believe in oversupplying the market. When you are a large company, you can afford to do it. When you are a small player, your flexibility gets reduced.

This is a learning in the business life that first of all you need to have commitment, dedication and passion for what you are doing.

I understand that this has taken a lot of politicians by surprise. But we believe that this is an important and right step for the steel industry.

A strong player, which has the sufficient critical mass, can withhold pressure better and create a more stable environment that benefits shareholders as well as employees.

We are not in the business of iron ore. Whatever captive iron ore sources we have, we use it to make steel.

The torch relay is an excellent embodiment of all that the Olympic Games have come to symbolise - a celebration of the human spirit. Personally to me, it represents striving to be the best in whatever we do, never giving up despite the odds, and a commitment to health and fitness.

Production cutbacks have remained in place in the third quarter and this has helped to further reduce inventory levels worldwide.