CMC 4th Quarter
2007
2008
Annual Meeting
of Shareholders
Summary – Outlook 2008
§Global Infrastructure Activities Strong
§Global Economies, in Particular Emerging,
are Very Good
are Very Good
§China Has Increased Export Taxes on Steel Products
§China Steel Exports Likely to be Reduced by
30% in 2008 (Impact 15 Million MT)
30% in 2008 (Impact 15 Million MT)
§Iron Ore Contract Prices Likely to Increase
30-50% from April 1, 2008
30-50% from April 1, 2008
§Higher Iron Ore Prices Cause Ferrous Scrap
Prices to Rise and Result in Higher Steel Prices
Prices to Rise and Result in Higher Steel Prices
§Global Steel Prices Have Risen Sharply in Recent Weeks;
Likely to Stabilize at Higher Levels.
Positives – Global