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Steel Industry Update/266

September 2011

Locker Associates, 225 Broadway, Suite 2625 New York NY 10007 Tel: 212-962-2980

Table 1: Selected U.S. Steel Industry Data, July & Year-to-Date, 2011

Month of JulyYear-to-Date

(000 net tons)

20112010% Chg20112010 % Chg

Raw Steel Production ...............8,1227,4568.9%55,17652,539 5.0%Capacity Utilization .................75.069.6--74.571.7 --Mill Shipments ..........................7,4096,48114.3%52,18948,790 7.0%Exports .....................................1,06289618.5%7,4707,119 4.9%Total Imports .............................2,6202,4258.0%17,26614,131 22.2%Finished Steel Imports ............2,0951,80316.2%13,18710,992 20.0%Apparent Steel Supply*.............8,4437,38814.3%57,90652,663 10.0%Imports as % of Supply* .........24.824.4--22.820.9 --Average Spot Price**

($/ton)

......$865$68825.7%$909$716 27.0%Scrap Price#

($/gross ton)

..........$443$30943.4%$440$340 29.3%

Sources: AISI, SteelBenchmarker *Excl semi-finished imports **Avg price of 4 carbon products #shredded

Table 2: U.S. Spot Prices for Selected Steel Products, September & Year-to-Date, 2011

Month of September Year-to-Date

($ per net ton)

2011 2010 % Chg 2011 2010 % Chg

Hot Rolled Band..………….. 697 592 17.7% 783 627 25.0%Cold Rolled Coil…......……. 800 695 15.1% 879 732 20.0%Coiled Plate................…….. 1017 779 30.6% 1,012 768 31.8%

Average Spot Price…….... $838 $689 21.7% $891 $709 25.7%

OCTG………………………. 1,997 1,854 7.7% 1,877 1,733 8.3%#1 Heavy Melt……………... 401 318 26.1% 403 310 29.9%Scrap Steel-Shredded……. 444 353 25.8% 440 342 28.6%#1 Busheling………………. 483 404 19.6% 476 412 15.4%

Sources: World Steel Dynamics’ SteelBenchmarker, Spears Research; OCTG data is August, 2011

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Table 3: World Crude Steel Production, July & Year-to-Date, 2011

(000 metric tons)

Month of July Year-to-Date

Region 20112010% Chg20112010 % Chg

European Union……. 14,57913,7635.9%108,008103,509 4.3%Other Europe………. 3,0682,59518.2%21,16717,471 21.2%C.I.S…………………. 9,4508,6179.7%66,10662,035 6.6%North America……… 10,5409,48611.1%69,85865,672 6.4%South America……... 4,2973,83512.0%28,74625,071 14.7%Africa………………... 1,2071,303-7.3%8,1689,684 -15.7%Middle East…………. 1,5871,29722.3%11,94310,880 9.8%Asia………………….. 82,18772,73813.0%568,329520,176 9.3%Oceania………...…... 561736-23.8%4,5694,710 -3.0%

Total………………… 127,477114,37211.5%886,893819,209 8.3%Country

China……………....... 59,30051,34815.5%410,364372,060 10.3%Japan….…………..… 9,1089,223-1.2%63,18063,800 -1.0%United States……….. 7,4576,76410.2%50,14347,662 5.2%India

(e)

………………. 6,1605,7946.3%41,79639,788 5.0%Russia

(e)

…….……… 5,9505,5058.1%40,69238,357 6.1%South Korea……...…. 5,6594,64921.7%39,52533,236 18.9%Germany.……………. 3,6693,4725.7%26,86526,217 2.5%Brazil….

……………….

3,1212,8858.2%20,94819,264 8.7%Turkey……………….. 2,8582,39619.3%19,26215,917 21.0%Ukraine

(e)

..………….. 2,7302,47610.3%20,43219,158 6.6%All Others………….... 24,19522,3368.3%174,118162,908 6.9%

Source: World Steel Association, 8/11; e=estimate Source: World Steel Association, 8/11; in million metric tons

Graph 1: World Crude Steel Production

Steel Industry Update/266

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Table 4: US Stainless Steel Imports and Consumption, June 2011Imports Consumption

(in tons)

June 2011June 2010% ChgJune 2011June 2010 % Chg

Stainless sheet/strip 30,46534,250-11.1%119,17394,118 26.6%Stainless plate 14,1506,969103.0%27,60814,095 95.9%Stainless bar 12,5669,52831.9%23,23418,551 25.2%Stainless rod 2,6281,57766.6%7,3974,884 51.5%Stainless wire 3,8723,7782.5%4,7134,544 3.7%