The place we are in took at a long time to get to and it will take a long time to get out.

If you look at old pictures of China, they are all riding bikes. Now, they all drive cars.

Costs fluctuate every day, almost every hour. You would have to assume that every other relevant factor . . . would remain the same to know how much prices would fall.

It's important to understand that even under the best circumstances we have a real supply imbalance that is growing every day.

We are constantly in a volatile situation because of the tight worldwide supply-and-demand balance.

Clearly, there is something the market is responding to. But there is nothing specific that I've heard.