Steel Industry Update/246 January 2009

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

Table 1: Selected U.S. Steel Industry Data, November & Year-To-Date

Month of November Year-to-Date
(000 net tons) 2009 2008 % Chg 2009 2008 % Chg
Raw Steel Production ............... 6,296 5,180 21.5% 57,688 96,378 -40.1%
Capacity Utilization ................. 61.4 50.7 -- 50.5 84.7 --
Mill Shipments .......................... 5,424 5,223 3.8% 54,312 93,234 -41.7%
Exports ..................................... 935 921 1.5% 8,353 12,761 -34.5%
Total Imports............................. 1,377 2,407 -42.8% 14,805 29,860 -50.4%
Finished Steel Imports ............ 1,010 2,221 -54.5% 13,046 24,106 -45.9%
Apparent Steel Supply*............. 5,498 6,523 -15.7% 59,006 104,579 -43.6%
Imports as % of Supply*.......... 18.4 34.1 -- 22.1 23.1 --
Average Spot Price** ($/ton) ...... 588 831 -29.3% 601 959 -37.4%
Scrap Price# ($/gross ton) .......... 235 159 47.8% 226 426 -46.9%
Source: AISI, Purchasing Magazine *Excl semi-finished imports **Avg price of 8 carbon products #shredded bundles

Table 2: World Crude Steel Production by Region, November & Year-To-Date

(000 metric tons) Month of November Year-to-Date
Region 2009 2008 % Chg 2009 2008 % Chg
European Union.......... 14,153 12,779 10.8% 126,307 188,966 -33.2%
Other Europe.............. 2,511 2,078 20.9% 26,096 29,282 -10.9%
C.I.S. .......................... 8,656 5,771 50.0% 88,473 108,419 -18.4%
North America ............ 8,431 8,450 30.7% 74,608 119,114 -37.4%
South America............ 3,724 3,273 13.8% 34,108 45,034 -24.3%
Africa .......................... 1,257 1,096 14.7% 13,482 16,051 -16.0%
Middle East................. 1,302 1,263 3.1% 15,199 14,815 2.6%
Asia ............................ 66,779 53,152 25.6% 706,800 692,793 2.0%
Oceania ...................... 670 652 2.7% 5,363 7,922 -32.3%
Total........................... 107,484 86,513 24.2% 1,090,435 1,222,396 -10.6%
Countries
China………………… 47,262 34,407 37.4% 518,177 462,450 12.1%
Japan………………... 8,858 8,801 0.5% 78,584 111,255 -29.4%
United States……….. 5,964 4,699 26.9% 52,587 87,433 -39.9%
Russia………..……… 5,322 3,731 42.6% 54,360 65,200 -16.6%
India.………………… 4,770 4,554 4.7% 51,682 50,467 2.4%
South Korea..………. 4,319 4,018 7.5% 44,230 49,923 -11.4%
Germany.…………… 3,535 3,272 8.0% 29,643 43,386 -31.7%
Ukraine …………….. 2,668 1,597 67.1% 27,008 35,253 -23.4%
All Others…………... 27,454 23,031 19.2% 234,164 317,029 -26.1%
Source: World Steel Association, 12/09

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 Steel Industry Update/246

Table 3: Nonresidential Construction, 2008-2010F

($ millions)* 2008 2009 2010F % Chg*
Private Non-Residential
Lodging $35.4 $23.0 $20.0 -13.0%
Office 57.1 39.0 34.4 -11.6%
Commercial 81.5 50.0 43.2 -13.4%
Healthcare 39.1 37.2 37.6 1.2%
Educational 18.6 16.6 15.1 -9.0%
Power 68.7 76.2 81.0 5.9%
Manufacturing 60.8 73.0 59.2 -18.9%
Total Selected Industries $325.8 $291.8 $279.2 -4.3%

Public Non-Residential
Office $13.2 $15.0 $13.4 -10.3%
Commercial 3.4 4.0 3.4 -14.3%
Healthcare 8.6 10.8 10.9 1.0%
Educational 85.5 88.7 84.4 -4.8%
Power 11.5 14.3 11.6 -18.8%
Total Selected Industries $122.2 $132.6 $123.7 -6.7%

Total Non-Residential
Lodging $35.8 $23.1 $20.1 -12.8%
Office 70.3 53.9 47.9 -11.3%
Commercial 84.9 53.8 46.6 -13.5%
Healthcare 47.7 47.9 49.0 1.2%
Educational 104.1 105.2 100.0 -5.4%
Power 81.8 90.5 92.3 2.0%
Manufacturing 61.3 73.6 59.6 -19.0%
Total Selected Industries $450.1 $425.0 $394.4 -7.2%
Source: Associated Builders and Contractors, U.S. Census Bureau, 12/09 Note: nonresidential construction not
counting public infrastructure projects; *seasonal adjusted annual rate

Table 4: US Rebar Consumption, 2005-2010F

Year Shipments Exports Imports Consump % Chg Import %
2010F 5,892 525 480 5,847 22.6% 8.2%
2009F 4,830 430 369 4,769 -37.2% 7.7%
2008 7,318 694 971 7,595 -20.5% 12.8%
2007 8,028 335 1,861 9,554 1.7% 19.5%
2006 7,419 301 2,587 9,705 12.7% 26.7%
2005 7,464 279 1,424 8,609 13.4% 16.5%
Source: Metal Strategies, 12/09; in thousand tons

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Source: ISRI Friday Report, December 24, 2009

Table 5: Turkish Steel Exports, Dec ‘09 & 2009 Y-T-D

Country Dec ‘09 2009
Egypt $38,451,308 $1,370,409,639
UAE 64,228,297 974,862,072
Iraq 69,360,536 845,619,131
Algeria 37,444,363 597,417,166
Libya 43,775,930 545,789,996
Saudi Arabia 56,299,395 453,346,936
Italy 11,838,322 301,019,157
Yemen 50,272,395 293,909,257
Romania 16,092,964 278,510,016
Iran 17,681,137 276,661,915
Source: Steel Orbis, January 6, 2010; in US$

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Table 6: Who Owns the Steel Industry?

Institutions With Top 10 Stockholder Ranking in 5 or More Steel Companies

Institutions/Rank*
Columbia Goldman State
Steel Company Barclays Mgmt Fidelity Sachs Street Vanguard
AK Steel 4 -- -- -- 2 3
ArcelorMittal -- -- 1 4 -- 8
Cliffs Natural Resources 3 8 -- 6 4 5
Commercial Metals 1 -- 6 8 3 4
GerdauAmeristeel 6 -- -- -- -- --
Nucor Steel 2 -- 5 -- 3 4
Olympia Steel 4 6 -- 8 -- 5
Reliance Steel & Aluminum 3 -- 7 8 5 6
Russel Metals -- -- -- -- -- --
Schnitzer Steel 9 3 -- 8 7 6
Steel Dynamics 1 10 5 -- 4 2
ThyssenKrupp -- -- -- -- -- 8
U.S. Steel 4 8 -- 5 3 1
Worthington Industries 3 -- -- -- 2 6
Source: Morningstar.com 1/10; *Top ten ranking position in each steel company

Table 7: AK Steel (AKS) Top Ten Equity Ownership Institutions

% Total % Total
Institution Shares Change Shares Held Assets Date
AllianceBernstein L.P. 11,970,841 11,237,710 10.94 0.16 9/30/2009
State Street Corporation 5,270,102 289,511 4.82 0.02 9/30/2009
The Vanguard Group, Inc. 5,028,847 48,642 4.60 0.02 9/30/2009
Barclays Global Investors Na /CA 4,242,112 -1,534,944 3.88 0.01 9/30/2009
D. E. Shaw & Co LP 4,222,169 1,368,272 3.86 0.21 9/30/2009
American Century Inv Mgt, Inc. 3,493,238 1,279,536 3.19 0.15 9/30/2009
Jgd Management Corp 3,194,657 -1,826,669 2.92 2.73 9/30/2009
Capital Research Global Investors 2,725,281 0 2.49 0.03 9/30/2009
Wells Capital Management Inc. 2,288,855 -65,433 2.09 0.14 9/30/2009
RBC Asset Management Inc. 2,247,000 343,500 2.05 0.17 9/30/2009
Total: Top 10 Institutions 44,683,102 11,140,125 40.84
Source: Morningstar.com 1/10

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Table 8: ArcelorMittal (MT) Top Ten Equity Ownership Institutions

% Total % Total
Institution Shares Change Shares Held Assets Date
Fidelity Mgmt & Research Co 12,358,290 -7,065,150 0.79 0.11 9/30/2009
AllianceBernstein L.P. 11,869,405 4,071,793 0.76 0.30 9/30/2009
DekaBank Deutsche Girozentrale 5,491,656 5,491,656 0.31 3.64 9/30/2009
Goldman, Sachs & Co. 3,309,639 164,072 0.21 0.12 9/30/2009
Wellington Mgmt Company, LLP 2,730,865 -3,113,772 0.17 0.05 9/30/2009
Credit Suisse First Boston (CSFB) 2,054,211 272,138 0.13 0.15 9/30/2009
Zweig Dimenna Associates LLC 1,199,000 55,500 0.08 1.38 9/30/2009
The Vanguard Group, Inc. 1,018,700 158,000 0.06 0.96 9/30/2009
Empire Life Insurance Company 763,900 -14,700 0.06 2.03 12/31/2009
Peconic Partners LLC 899,800 -6,200 0.06 3.81 9/30/2009
Total: Top 10 Institutions 44,683,102 11,140,125 40.84
Source: Morningstar.com 1/10

Table 9: Cliffs Natural Resources (CLF) Top Ten Equity Ownership Institutions
% Total % Total
Institution Shares Change Shares Held Assets Date
Wellington Management Co, LLP 7,765,940 -1,063,785 6.83 0.11 9/30/2009
Capital World Investors 7,300,000 0 6.42 0.09 9/30/2009
Barclays Global Investors Na /CA 6,106,196 -1,421,261 5.37 0.03 9/30/2009
State Street Corporation 4,908,130 273,638 4.32 0.04 9/30/2009
The Vanguard Group, Inc. 4,443,661 68,847 3.91 0.03 9/30/2009
Goldman Sachs Asset Mgmt, L.P. 2,972,421 2,958,037 2.61 0.12 9/30/2009
Harbinger Cap Ptnrs Spec Sit Fd 2,698,276 0 2.37 16.48 9/30/2009
Columbia Management Company 2,407,091 132,450 2.12 0.07 9/30/2009
Deutsche Inv Mgmt Americas Inc 2,300,612 79,604 2.02 0.31 9/30/2009
Ing Investment Management Co. 2,208,100 521,154 1.94 0.35 9/30/2009
Total: Top 10 Institutions 44,683,102 11,140,125 40.84
Source: Morningstar.com 1/10

Table 10: Commercial Metals (CMC) Top Ten Equity Ownership Institutions
% Total % Total
Institution Shares Change Shares Held Assets Date
Barclays Global Investors Na /CA 6,210,998 561,740 4.81 0.02 9/30/2009
NFJ Investment Group LLC 5,157,500 -33,700 4.00 0.49 9/30/2009
State Street Corporation 4,138,995 159,994 3.21 0.02 9/30/2009
The Vanguard Group, Inc. 3,779,931 74,944 2.93 0.02 9/30/2009
Advisory Research, Inc. 3,106,009 -815,822 2.41 1.23 9/30/2009
Fidelity Mgmt & Research Co 3,036,731 -4,049,500 2.35 0.01 9/30/2009
Fisher Asset Management, LLC 2,805,555 183,130 2.17 0.17 9/30/2009
Goldman Sachs Asset Mgmt, L.P. 2,479,998 553,849 1.92 0.05 9/30/2009
AllianceBernstein L.P. 2,382,651 -2,329,756 1.85 0.03 9/30/2009
Lord Abbett & Co LLC 1,882,028 1,806 1.46 0.07 9/30/2009
Total: Top 10 Institutions 34,980,396 -5,693,315 27.11
Source: Morningstar.com 1/10

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Table 11: GerdauAmeristeel (GNA) Top Ten Equity Ownership Institutions

% Total % Total
Institution Shares Change Shares Held Assets Date
Goodman & Co, Invest Counsel 19,327,230 40,800 4.52 1.72 9/30/2009
IG Investment Management Ltd 11,960,610 1,488,710 2.77 0.45 9/30/2009
Scheer, Rowlett & Assoc Invest 7,875,741 383,010 1.82 1.51 9/30/2009
BMO Capital Markets Corp. 5,179,549 381,875 1.19 0.15 9/30/2009
Franklin Advisers, Inc. 3,940,350 18,600 0.91 0.07 9/30/2009
Barclays Global Investors Na /CA 3,455,810 443,052 0.79 0.00 9/30/2009
Pyramis Global Advisors, LLC 3,128,870 -660,000 0.72 0.06 9/30/2009
Leith Wheeler Inv Counsel 2,760,400 37,200 0.64 2.69 12/31/2009
Canada Pension Plan Inv Board 2,580,500 252,600 0.60 0.15 9/30/2009
Tetrem Capital Management Ltd. 1,872,675 1,872,675 0.46 0.37 9/30/2009
Total: Top 10 Institutions 62,081,735 4,258,522 14.42
Source: Morningstar.com 1/10

Table 12: Nucor (NUE) Top Ten Equity Ownership Institutions

% Total % Total
Institution Shares Change Shares Held Assets Date
State Farm Mutual Auto Ins Co. 29,981,200 0 9.53 3.42 9/30/2009
Barclays Global Investors Na /CA 12,237,774 458,723 3.89 0.10 9/30/2009
State Street Corporation 12,085,392 940,060 3.84 0.13 9/30/2009
The Vanguard Group, Inc. 11,201,446 303,064 3.56 0.12 9/30/2009
Fidelity Mgmt & Research Co. 9,137,666 2,114,260 2.90 0.10 9/30/2009
Victory Capital Management Inc. 8,043,904 948,436 2.56 1.30 9/30/2009
T. Rowe Price Associates, Inc. 7,254,868 -1,825 2.31 0.16 9/30/2009
Fisher Asset Management, LLC 6,672,597 -11,932 2.12 1.05 9/30/2009
Wells Capital Management, Inc. 6,171,485 -749,268 1.96 0.88 9/30/2009
Northern Trust Investments, N.A. 4,080,215 25,150 1.30 0.12 9/30/2009
Total: Top 10 Institutions 44,683,102 11,140,125 40.84
Source: Morningstar.com 1/10

Table 13: Olympic Steel (Zeus) Top Ten Equity Ownership Institutions
% Total % Total
Institution Shares Change Shares Held Assets Date
Royce & Associates, LLC 1,294,235 23,534 11.89 0.15 9/30/2009
Fisher Asset Management, LLC 755,455 31,100 6.94 0.07 9/30/2009
Dimensional Fund Advisors, Inc. 752,454 106,434 6.91 0.03 9/30/2009
Barclays Global Investors Na /CA 699,603 59,683 6.43 0.00 9/30/2009
The Vanguard Group, Inc. 470,238 16,050 4.32 0.00 9/30/2009
Columbia Management Company 337,698 16,042 3.10 0.01 9/30/2009
Columbia Mgmt Advisors LLC 309,129 8,490 2.84 0.27 11/30/2009
Goldman Sachs Asset Mgmt, L.P. 289,826 -3,448 2.66 0.01 9/30/2009
Cortina Asset Management LLC 284,980 284,980 2.62 0.67 9/30/2009
Fiduciary Mgmt Associates, LLC 256,500 35,300 2.36 0.62 9/30/2009
Total: Top 10 Institutions 5,450,118 578,165 50.07
Source: Morningstar.com 1/10

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Table 14: Reliance Steel & Aluminum (RS) Top Ten Equity Ownership Institutions
% Total % Total
Institution Shares Change Shares Held Assets Date
Lord Abbett & Co LLC 5,787,833 -647,401 7.88 0.54 9/30/2009
Royce & Associates, LLC 5,279,237 770,300 7.18 0.93 9/30/2009
Barclays Global Investors Na /CA 3,693,120 934,954 5.03 0.03 9/30/2009
Franklin Advisers, Inc. 2,299,900 -10,100 3.13 0.22 9/30/2009
State Street Corporation 2,277,701 68,129 3.1 0.02 9/30/2009
The Vanguard Group, Inc. 2,267,770 37,227 3.09 0.02 9/30/2009
Fidelity Mgmt & Research Co. 1,778,525 -719,490 2.42 0.02 9/30/2009
Goldman Sachs Asset Mgmt, L.P. 1,683,206 -1,272,341 2.29 0.09 9/30/2009
First Pacific Advisors, LLC 1,294,508 0 1.76 1.45 9/30/2009
Dimensional Fund Advisors, Inc. 1,067,504 67,716 1.45 0.07 9/30/2009
Total: Top 10 Institutions 27,429,304 -771,006 37.33
Source: Morningstar.com 1/10

Table 15: Russel Metal (RUSMF) Top Ten Equity Ownership Institutions
% Total % Total
Institution Shares Change Shares Held Assets Date
IG Investment Management Ltd 2,353,200 -50,300 3.94 1.75 10/31/2009
IA Clarington Investments Inc. 1,713,950 -55,350 2.87 2.36 9/30/2009
RBC Life Insurance Co. 1,582,893 -26,800 2.65 0.15 9/30/2009
Manufacturers Life Ins Company 1,699,550 -1,057 2.85 0.63 10/31/2009
CIBC Asset Management Inc. 1,390,700 -159,823 2.33 0.33 12/31/2009
RBC Asset Management Inc 1,194,970 -128,739 2 0.15 9/30/2009
BlackRock 807,189 -159,279 1.35 0.83 12/31/2009
Mawer Investment Mgmt Ltd. 775,362 -26,883 1.3 1.09 12/31/2009
Scheer, Rowlett and Associates 716,070 7,200 1.2 1.24 12/31/2009
Bissett Investment Management 554,000 2,500 0.93 1.29 10/31/2009
Total: Top 10 Institutions 12,787,884 -598,531 21.42
Source: Morningstar.com 1/10

Table 16: Schnitzer Steel (SCHN) Top Ten Equity Ownership Institutions
% Total % Total
Institution Shares Change Shares Held Assets Date
Royce & Associates, LLC 3,213,548 -84,930 11.37 0.70 9/30/2009
M&G Investment Mgmt Ltd. 3,054,413 1,300 10.81 2.87 9/30/2009
Columbia Management Company 1,973,662 -111,400 6.99 0.09 9/30/2009
Advisory Research, Inc. 1,887,959 122,788 6.68 2.23 9/30/2009
Columbia Mgmt Advisors LLC 1,508,925 -100,355 5.45 0.81 11/30/2009
The Vanguard Group, Inc. 1,057,488 29,623 3.74 0.01 9/30/2009
State Street Corporation 834,201 127,516 2.95 0.01 9/30/2009
Goldman Sachs Asset Mgmt, L.P. 722,126 -309,013 2.56 0.05 9/30/2009
Barclays Global Investors Na /CA 577,450 40,702 2.04 0.01 9/30/2009
Morgan Stanley & Co. Inc 355,986 210,782 1.26 0.04 9/30/2009
Total: Top 10 Institutions 15,185,758 -72,987 53.85
Source: Morningstar.com 1/10

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Table 17: Steel Dynamics (STLD) Top Ten Equity Ownership Institutions
% Total % Total
Institution Shares Change Shares Held Assets Date
Barclays Global Investors Na /CA 10,004,109 1,303,046 4.65 0.03 9/30/2009
The Vanguard Group, Inc. 6,532,763 309,515 3.04 0.02 9/30/2009
Wellington Mgmt Company, LLP 6,392,685 4,366,770 2.97 0.04 9/30/2009
State Street Corporation 6,367,810 523,380 2.96 0.02 9/30/2009
Fidelity Mgmt & Research Co. 5,914,800 -1,667,920 2.75 0.02 9/30/2009
Wells Capital Management Inc. 5,380,297 -3,060,382 2.50 0.25 9/30/2009
Van Eck Associates Corporation 5,324,198 363,357 2.47 0.77 9/30/2009
Putnam Investment Mgmt Co. 3,820,266 -253,986 1.78 0.18 9/30/2009
Franklin Advisers, Inc. 3,324,050 -19,400 1.54 0.12 9/30/2009
Columbia Management Company 2,615,164 642,583 1.22 0.04 9/30/2009
Total: Top 10 Institutions 55,676,142 2,506,963 25.88
Source: Morningstar.com 1/10

Table 18: ThyssenKrupp (TKA) Top Ten Equity Ownership Institutions

% Total % Total
Institution Shares Change Shares Held Assets Date
Deka Investment GmbH 3,182,330 8,074 0.63 1.14 9/30/2009
BlackRock Asset Mgmt (DEU) AG 2,603,059 -112,410 0.56 1.45 11/30/2009
Legal and General 2,854,040 62,055 0.59 0.14 11/30/2009
Allianz Global Investors KAG mbH 2,461,615 -549,646 0.52 1.63 10/31/2009
Teachers Advisors, Inc. 2,217,785 262,083 0.48 2.06 11/30/2009
BlackRock Fund Advisors 2,112,668 -10,250 0.46 0.19 12/31/2009
Cominvest Asset Mgmt GmbH 2,160,335 3,751 0.46 1.34 10/31/2009
The Vanguard Group, Inc. 2,082,437 55,227 0.40 0.12 9/30/2009
Union Inv Privatfonds GmbH 1,979,600 28,000 0.38 1.50 9/30/2009
Gartmore Investment Ltd. 1,904,166 869,169 0.40 1.13 11/30/2009
Total: Top 10 Institutions 23,558,035 616,053 4.88
Source: Morningstar.com 1/10

Table 19: U.S. Steel (X) Top Ten Equity Ownership Institutions
% Total % Total
Institution Shares Change Shares Held Assets Date
The Vanguard Group, Inc. 6,785,726 108,838 4.73 0.07 9/30/2009
Capital Research Global Investors 6,163,200 -3,717,412 4.30 0.13 9/30/2009
State Street Corporation 6,040,905 281,922 4.21 0.06 9/30/2009
Barclays Global Investors Na /CA 6,002,110 -1,304,290 4.19 0.04 9/30/2009
Goldman Sachs Asset Mgmt, L.P. 5,777,803 5,722,507 4.03 0.32 9/30/2009
Capital World Investors 4,020,000 -1,000,000 2.80 0.07 9/30/2009
J.P. Morgan Inv Management Inc. 3,766,428 3,086,895 2.63 0.20 9/30/2009
Columbia Management Company 3,444,239 2,588,965 2.40 0.14 9/30/2009
Wellington Mgmt Company, LLP 3,108,875 3,108,875 2.17 0.06 9/30/2009
RiverSource Investments, LLC 2,866,820 -260,877 2.00 0.28 9/30/2009
Total: Top 10 Institutions 47,976,106 8,615,423 33.46
Source: Morningstar.com 1/10

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Table 20: Worthington Industries (WOR) Top Ten Equity Ownership Institutions
% Total % Total
Institution Shares Change Shares Held Assets Date
Southeastern Asset Mgmt Inc. 6,708,400 0 8.48 0.40 9/30/2009
State Street Corporation 4,267,466 485,970 5.40 0.01 9/30/2009
Barclays Global Investors Na /CA 3,978,808 292,957 5.03 0.01 9/30/2009
Capital Research Global Investors 3,639,800 0 4.60 0.02 9/30/2009
Fifth Third Bancorp 3,008,500 0 3.80 0.56 9/30/2009
The Vanguard Group, Inc. 2,776,845 -29,155 3.51 0.01 9/30/2009
Dimensional Fund Advisors, Inc. 1,545,659 -168,899 1.95 0.03 9/30/2009
Northern Trust Investments, N.A. 1,475,329 325,134 1.87 0.01 9/30/2009
Denver Investment Advisors 1,162,053 606,286 1.47 0.47 9/30/2009
Invesco Institutional(N.A.),Inc. 1,029,570 -312,300 1.30 0.08 9/30/2009
Total: Top 10 Institutions 29,592,430 1,199,993 37.41
Source: Morningstar.com 1/10

Table 21: U.S. Spot Market Steel Prices, Actual and Forecast, Q1’09-Q4’10F
($/ton) Q1’09 Q2’09 Q3’09 Q4’09 Q1’10F Q2’10F Q3’10F Q4’10F
HR sheet 493 397 480 514 554 568 586 603
CR sheet 586 482 570 612 657 657 685 704
HD gal sheet 658 564 588 621 666 669 694 717
Electrogal sheet 718 564 598 648 693 698 715 740
Coiled plate 778 526 537 552 610 630 665 698
HR plate 885 626 616 622 651 680 695 712
Structural beam 823 710 645 645 640 680 655 630
Merchant bar 820 695 717 700 700 750 663 656
CF steel bar 822 766 816 751 766 816 822 794
Reinforcing bar 531 468 510 481 507 529 548 574
Wire rod 642 487 528 561 557 550 565 580
SS sheet (304) 2,452 2,087 2,265 2,514 2,489 2,375 2,293 2,262
Source: Purchasing Magazine, 12/29/09

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Locker Associates Steel Track: Spot Prices

U.S. Flat-Rolled Prices U.S. Other Product Prices
1450
1200
($ per ton) 1350
1100 ($ per ton)
1250
1000
Plate 1150

900 1050
CF Bar (SBQ)
800 950

700 850

CR Sheet 750
600
650
500 Beam
550
400 Wire Rod
450
HR Sheet
300 350

200 250
89 93 97 04 05 07 q2 q4 J M M J A S O N D 89 93 97 04 05 07 q2 q4 J M M J A S O N D

Locker Associates Steel Track: Performance

U.S. Raw Steel Production 100%
U.S. Capacity Utilization
10.0
(mil net tons)
2009 2008
9.0 90%

8.0 2009 80%

2008
7.0 70%

6.0 60%

5.0 50%

4.0 40%

3.0 30%
J F M A M J J A S O N D J F M A M J J A S O N D
2009 4.5 4.4 4.4 4.2 4.5 4.8 5.6 6.1 6.4 6.6 2009 43% 46% 43% 41% 43% 47% 52% 58% 62% 62%
2008 9.5 9.1 9.5 9.2 9.6 9.2 9.4 9.6 8.6 7.5 5.1 4.3 2008 90% 92% 90% 90% 91% 90% 89% 90% 85% 71% 51% 41%

U.S. Spot Prices for Selected Steel Products, December & Year-to-Date
Month of December Year-To-Date
($ per net ton) 2009 2008 %Chg 2009 2008 %Chg
Hot Rolled Sheet………….. 500 566 -11.7% 472 843 -44.0%
Cold Rolled Sheet......…….. 598 667 -10.3% 562 931 -39.6%
HD Galvanized Sheet..…… 606 757 -19.9% 608 994 -38.9%
Coiled Plate................……. 515 972 -47.0% 598 1,005 -40.4%
Cold-Finished Bar (SBQ)….. 733 905 -19.0% 789 1,150 -31.4%
Wide-Flange Beams....…… 639 875 -27.0% 706 961 -26.6%
Wire Rod/Low Carbon.…… 536 727 -26.3% 555 874 -36.6%
Rebar.........................…….. 456 620 -26.5% 498 787 -36.8%
Average Spot Price+…….. 573 761 -24.7% 598 943 -36.5%
Stainless Sheet 304……… 2,468 3,141 -21.4% 2,329 4,060 -42.6%
OCTG Seamless Tube…… 1,509 2,845 -47.0% 1,701 2,473 -31.2%
Scrap ($/gross ton)*....………. 295 225 31.1% 232 409 -43.4%
Sources: Purchasing Mag, Spears Research +Comp price of 8 carbon products *shredded bundles
Update #246

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