is achievable. Refer to the HRC price in Q3/17, we have seen the improvement of HRC price and demand comparing with Q2/17. Up to August, average HRC price in Q3 is higher than average HRC price in Q2

$/BBL, supported by arbitrages made from the Asian region to the European side is still feasible even with freight cost at a high level, but pressured from increased export quotas from China in the third