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January 2012
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Table 1: Selected U.S. Steel Industry Data, November & Year-to-Date, 2011
Month of November
2011
2010
% Chg
7,752
7,074
9.6%
2011
86,987
Year-to-Date
2010
81,402
% Chg
6.9%
73.0
68.3
--
74.4
70.5
--
7,405
6,549
13.1%
83,780
76,333
9.8%
Exports .....................................
1,230
1,017
20.9%
12,253
11,076
10.6%
Total Imports.............................
2,121
1,786
18.8%
26,451
22,058
19.9%
1,651
1,497
10.3%
20,258
17,352
16.7%
7,825
7,029
11.3%
91,784
82,609
11.1%
Imports as % of Supply*..........
21.1
21.3
--
22.1
21.0
--
$778
$660
17.9%
$874
$700
24.8%
$405
$354
14.4%
$437
$343
27.4%
#shredded scrap
Table 2: U.S. Spot Prices for Selected Steel Products, January & Year-to-Date, 2012
Month of January
2012
2011
% Chg
$728
$772
-5.7%
830
886
-6.3%
950
890
6.7%
2012
$728
830
950
$836
$849
-1.6%
$836
$849
-1.6%
OCTG (J55-SML)...
$2,040
$1,751
16.5%
$1,930
$1,748
10.4%
#1 Heavy Melt...
Shredded Scrap...
#1 Busheling.
$420
466
504
$425
455
477
-1.2%
2.4%
5.7%
$420
466
504
$425
440
466
-1.2%
5.9%
8.2%
Year-to-Date
2011
% Chg
$772
-5.7%
886
-6.3%
890
6.7%
Sources: World Steel Dynamics, Spears & Associates, 1/12; OCTG is December, 2011 data
9,318
9,210
North America
10,134
South America...
3,795
Africa...
Middle East.
% Chg
3.0%
17.0%
1.0%
112,434
108,080
4.0%
9,248
10.0%
118,927
111,406
7.0%
3,441
10.0%
48,357
43,872
10.0%
1,202
1,180
2.0%
13,966
16,261
-14.0%
1,718
1,658
4.0%
20,325
18,980
7.0%
Asia..
74,581
74,039
1.0%
954,190
884,092
8.0%
Oceania......
424
686
-38.0%
7,248
8,149
-11.0%
Total
117,058
115,105
7.0%
52,164
8,397
51,826
9,172
1.0%
-8.0%
683,265
107,595
627,506
109,599
9.0%
-2.0%
Country
China.......
Japan...
United States..
7,334
6,648
10.0%
86,247
80,495
7.0%
India(e).
6,150
5,743
7.0%
72,200
68,321
6.0%
South Korea
5,950
5,548
7.0%
68,471
58,912
16.0%
Russia.....
5,886
5,711
3.0%
68,743
66,942
3.0%
Turkey..
3,112
2,792
11.0%
34,103
29,143
17.0%
Germany...
3,025
3,177
-5.0%
44,288
43,830
1.0%
Ukraine....
2,804
2,960
-5.0%
35,332
33,432
6.0%
Brazil....
2,688
2,427
11.0%
35,162
32,926
7.0%
All Others....
19,548
19,101
2.3%
254,654
244,253
4.3%
-2-
Japan
EU
Canada
Brazil
Korea
Mexico
Russia
China
Australia
South Africa
Indonesia
Turkey
Ukraine
India
Others
Total
Nov '11
154
474
419
183
193
208
83
84
34
4
6
24
14
76
151
2,107
Nov '10
103
347
464
124
153
155
69
70
59
17
2
37
15
46
125
1,786
% Chg
49.8%
36.6%
-9.7%
47.5%
26.0%
34.4%
19.8%
19.6%
-42.1%
-74.1%
-58.2%
-34.5%
-4.5%
65.3%
20.8%
18.0%
-3-
YTD 11
1,844
4,055
5,629
2,721
2,634
2,700
1,323
1,152
803
131
50
651
333
745
1,667
26,438
YTD 10
1,338
3,937
6,235
804
1,846
2,605
1,306
797
517
103
29
561
118
749
1,113
22,058
% Chg
37.8%
3.0%
-9.7%
238.4%
42.7%
3.7%
1.3%
44.5%
55.4%
27.6%
70.7%
16.1%
182.5%
-0.5%
49.8%
19.9%
Canada
Mexico
EU
Russia
Turkey
Brazil
Venezuela
Ecuador
Argentina
Colombia
Trin & Tobago
Peru
Chile
Dom Republic
Others
Total
Nov '11
583,731
310,546
90,022
609
603
26,477
18,839
5,484
805
16,365
246
8,315
6,399
1,738
160,241
1,230,420
Nov '10
505,989
249,476
63,276
701
751
20,563
2,339
18,529
1,877
7,247
372
4,972
1,151
5,114
134,454
1,016,811
% Chg
15.4%
24.5%
42.3%
-13.1%
-19.7%
28.8%
705.4%
-70.4%
-57.1%
125.8%
-33.9%
67.2%
456.0%
-66.0%
19.2%
21.0%
YTD 11
6,157,896
3,124,611
549,338
7,934
30,217
144,327
75,296
44,155
13,597
110,341
16,789
113,200
32,850
189,643
1,643,209
12,253,403
YTD 10
6,209,865
2,384,635
419,539
8,824
19,363
149,285
59,989
56,520
14,156
103,234
15,634
92,436
38,354
241,923
1,262,304
11,076,061
% Chg
-0.8%
31.0%
30.9%
-10.1%
56.1%
-3.3%
25.5%
-21.9%
-3.9%
6.9%
7.4%
22.5%
-14.4%
-21.6%
30.2%
10.6%
2011(e)
177.7
2012(f)
184.5
Other Europe/CIS
151.4
159.9
North America
119.1
123.0
South America
48.7
51.5
Africa/Middle East
36.7
39.8
China
731.0
800.0
Japan
108.0
110.5
Other Asia/Oceania
World Total
192.1
200.9
1,564.7
1,670.0
Steel Industry Update (ISSN 1063-4339) published 12 times/year by Locker Associates, Inc. Copyright 2012 by Locker Associates, Inc. All
rights reserved. Reproduction in any form forbidden w/o permission. Locker Associates, Inc., 225 Broadway Suite 2625 New York NY 10007.
-4-
2010
Saudi Arabia
707,429
718,676
Egypt
424,009
282,982
Syria
183,100
59,617
UAE
161,469
836,729
Morocco
130,518
121,906
Italy
109,888
51,128
Bangladesh
91,670
76,534
Peru
54,375
217
Tunisia
49,821
89,750
Sudan
31,248
12,550
Nov'11
669
241
443
1,353
1,299
2,652
Nov'10
765
194
443
1,402
1,165
2,567
% Chg
-12.5%
24.2%
0.0%
-3.5%
11.5%
3.3%
Oct'11
541
267
454
1,262
1,853
3,115
MoM
23.7%
-9.7%
-2.4%
7.2%
-29.9%
-14.9%
Revenue
EBITDA
Profit from operations
Net profit/(loss)
Q3'11
$4,772
1,130
922
429
Q2'11
$4,383
1,109
890
602
-5-
% Chg
8.9%
1.9%
3.6%
-28.7%
9M'11
$12,882
3,173
2,549
1,550
9M'101
$9,847
2,364
1,795
-225
% Chg
30.8%
34.2%
42.0%
n/a
Jobs
Wages
Econ Impact ($ mil)
Direct
137,640
$9.2
$32.8
Supplier
132,490
$7.9
$27.9
Induced
189,010
$9.1
$29.9
Total
459,140
$26.1
$90.6
Source: Economic Impact Study US-based Scrap Recycling Industry Report 2011 by John
Dunham & Associates
Jobs
Wages
Econ Impact ($ bil)
Direct
51,768
$3.3
$11.0
Supplier
44,239
$2.6
$9.3
Induced
65,924
$3.2
$10.4
Total
161,931
$9.1
$30.7
Source: Economic Impact Study US-based Scrap Recycling Industry Report 2011 by John
Dunham & Associates
Table 12: US Scrap Industry Economic and Job Impact, by State, 2011
Source: Economic Impact Study US-based Scrap Recycling Industry Report 2011 by John Dunham & Associates
-6-
2008
23.8
28.5
191.4
219.9
33.4
53.6
346.0
21.5
482.9
11.2
49.0
63.3
223.0
262.7
301.2
563.9
349.8
351.2
2009
17.7
21.6
177.1
198.7
33.0
26.7
305.0
14.9
407.3
11.4
55.4
70.1
218.6
259.2
222.7
481.9
394.1
396.2
2010
25.3
31.8
202.5
234.3
37.5
49.5
375.0
14.0
509.2
11.3
56.9
70.8
212.0
262.6
315.4
578.0
432.8
434.9
1,681.8
1,554.1
1,827.6
Country
Brazil
UK
Australia
India
Luxemburg
UK
Australia
US
Russia
Ukraine
Controlled
World Prod*
309.0
181.0
149.0
56.1
49.7
46.2
38.8
37.4
37.0
31.2
935.0
1,827.0
Share %
16.9%
9.9%
8.2%
3.1%
2.7%
2.4%
2.1%
2.0%
2.0%
1.7%
51.0%
100.0%
Source: Raw Materials Data as published in NSMR Bergsmannen 7/11; *in million tonnes
-7-
($ per ton)
($ per ton)
500
1100
#1 Busheling
Plate
1000
450
CR Coil
Shredded Scrap
900
400
800
#1 Heavy Melt
350
Rebar
700
HR Band
300
600
250
500
200
400
'06 '07 '08 '09 1q 2q 3q 4q J F M A M J
J A S O N D J
M A M J
S O N D J
10.0
9.0
2011
80%
7.0
70%
6.0
60%
5.0
50%
4.0
40%
2010
90%
8.0
3.0
100%
2011
2010
30%
2011 7.9 7.4 8.1 7.8 7.9 8.0 8.1 8.2 7.9 7.9 7.8
2011 73% 75% 75% 74% 73% 76% 75% 76% 76% 72% 73%
2010 6.9 6.9 7.8 7.7 8.0 7.8 7.5 7.3 7.3 7.2 7.1
2010 64% 71% 73% 74% 75% 75% 70% 68% 70% 67% 68%
Canada..
Mexico
Other W. Hemisphere..
European Union
Other Europe*..
Asia.
Oceania.
Africa..
Total
Imports: Customs District
Atlantic Coast
Gulf Coast/Mexican Border
Pacific Coast.
Gr Lakes/Canadian Border.
Off Shore
Month of November
2011
2010
% Chg
419
464
-9.7%
208
155
34.2%
295
156
89.1%
409
347
17.9%
131
129
1.6%
611
447
36.7%
42
72
-41.7%
5
17
-70.6%
2,121
1,786
18.8%
2011
5,629
2,701
3,138
3,990
2,388
7,542
923
140
26,451
173
1,031
295
612
10
2,874
11,895
4,641
6,859
182
215
716
234
604
18
Update #270
-8-
-19.5%
44.0%
26.1%
1.3%
-44.4%
Year-to-Date
2010
% Chg
6,235
-9.7%
2,605
3.7%
1,066
194.4%
3,937
1.3%
2,051
16.4%
5,444
38.5%
609
51.6%
110
27.3%
22,058
19.9%
2,733
7,634
4,111
7,388
191
5.2%
55.8%
12.9%
-7.2%
-4.7%
Over the last 28 years, the firm has directed over 225 projects spanning manufacturing,
transportation, distribution and mining industries. Typical projects involve in-depth analysis of a
firms market, financial and operating performance on behalf of a cooperative labormanagement effort. Locker Associates also produces a widely read monthly newsletter, Steel
Industry Update that circulates throughout the U.S. and Canadian steel industry.
MAJOR CLIENTS
United Steelworkers
Bank of Boston
Congress Financial
Santander Investment Securities
AEIF-IAM/AK Steel Middletown
Prudential Securities
US Steel Joint Labor-Mgmt Comm
LTV Steel Joint Labor-Mgmt Committee
Intl Union of Electrical Workers
Bethlehem Joint Labor-Mgmt Comm
Inland Steel Joint Labor-Mgmt Comm
Northwestern Steel and Wire
Boilermakers
American Federation of Musicians
USS/KOBE
Sysco Food Services of San Francisco
International Brotherhood of Teamsters
Development Bank of South Africa
J&L Structural Steel
RECENT PROJECTS
Business Plan for High-Tech Startup (2009-present): drafted detailed business plan to
raise capital and promote a new hydrogen battery technology
IBT-Supervalu (2010): assist union and management to identify major operational problems
impacting warehouse performance and provide recommendations for joint improvement
Institute of Scrap Recycling Industries (2010): presented a status report on the U.S. steel
market before the Institute of Scrap Recycling Industries Commodities roundtable
Save the World Air-Marketing (2009-present): developed a marketing plan to help drive
sales of a green technology product, ELEKTRA, an electronic fuel device for trucks that
increases fuel economy (mpg's), reduces exhaust emissions and improves engine performance