Goldman Sachs
4th Annual Global Steel CEO Forum
December 4, 2008
North America
§Rebar
Imports Well Down
–Only
20,000 MT Imported in November
–Only
79,000 MT/Month Average YTD 2008
§Latest Turkish Offers Approximately US $500/MT Houston Not Attractive
–Long
Lead Times
–Must
Commit to Larger Quantities
–Volatility
Scrap / Domestic Rebar Prices
–Credit
/ Working Capital Constraints
§Strengthening US$ and Low Freight Rates Not Attracting Imports
