CMC 4th Quarter 2007
Bank of America
BASics/Industrials
Conference
May 7, 2008
Outlook – North America
§Ferrous Scrap Pricing
–Continued Solid Domestic Demand
–International Prices Rising
–Increase in Iron Ore Prices Supports Ferrous Pricing
§All Factors Lead to Sustained Historically Higher Ferrous Scrap Prices
§Ferrous Scrap Prices Will Correct, But to a
Higher Level
§Nonferrous Exports Active
§Copper Pricing
–Always a Good Global Economic Barometer
–Strong Above $3/lb.
Ferrous/Nonferrous Scrap