First, the global steel industry remains constrained by geopolitical conflict and economic uncertainty, which has resulted in persistently soft -- within a persistently soft commercial environment and weak demand, and declining prices for graphite electrodes. As a result, our performance for the third quarter fell short of our expectations and our outlook has weakened. Second, GrafTech remains focused on managing through the near-term market disruptions while maintaining our positioning for long-term opportunities. We recognize steel industry performance and demand for graphite electrodes will be dependent on macro conditions.