CMC 4th Quarter 2007
2008
Annual Meeting
of Shareholders
Outlook – North America
§Ferrous Scrap Pricing
–Continued Solid Domestic Demand
–New Export Opportunities – Container Backhauls
–Traditional Winter Supply Decrease
–International Prices Rising
–Anticipate Increases in Iron Ore Prices
§All Factors Lead to Sharply Rising 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 Around $3/lb.
Ferrous/Nonferrous Scrap