CMC 4th Quarter 2007
Bank of America
BASics/IndustrialsConference
May 7, 2008
Outlook – North America
§Currently
Non-Residential Construction Markets in the
Main Remain only Slightly Affected by Credit Implosion
Main Remain only Slightly Affected by Credit Implosion
§Anticipate 2008 Demand Similar to 2007 (Slightly Lower)
§Credit Debacle May Cause a Pause; Varies by Geography
§Customers Hate Uncertainty
§Rebar Imports 29% Reduction Year Over Year
–Weak
U.S. Dollar
–High
Ocean Freight Rates
–Better
International Prices
–Concerted
Government Effort Not to Export – China/India
§With
Lead Times, Earliest Date Import Trend Could Reverse is Late Summer
§Service Centers Low Inventory Levels; Showing Discipline
Steel Long Products
