The market is overstocked and it is not feasible to take prices lower with the current exchange rate, so we have to reduce production to try to bring the market back to balance.

We are seeing a better year ahead in terms of prices … the forecast for stainless steel in 2006 is better and could boost demand for ferrochrome starting in the second quarter.

It’s obvious there’s an impact [on earnings]; that’s why we are cutting output to support our profitability.

We are looking at taking out probably at least four furnaces at the start of March, which is in addition to the two idle ones at the moment.