The document provides an overview of United States Steel Corporation. It discusses USS's position as the 5th largest global steel producer and 2nd largest producer in North America. It also summarizes USS's raw material integration, segments (flat-rolled, tubular, European), recent acquisition of Stelco, and outlook on the steel industry and capital allocation. The presentation aims to show how USS is growing responsibly while generating returns and meeting financial obligations.
The document summarizes United States Steel Corporation's operations and outlook. It discusses the company's position as the 5th largest global steel producer and 2nd largest producer in North America. It also outlines U.S. Steel's segments including flat-rolled steel, U.S. Steel Canada, European operations, and tubular products. Finally, it expresses optimism about the outlook for North American integrated steel producers.
KeyBanc Capital Markets Basic Materials and Packaging Conferencefinance15
This document provides an overview and summary of United States Steel Corporation's operations presented at a conference in September 2008. It discusses USSC's goal of growing responsibly while generating returns. It summarizes USSC's production capabilities, acquisition of Stelco, synergies from the Stelco acquisition, overview of its flat-rolled, European, tubular, and Canadian segments. It also discusses industry trends, the improving steel industry outlook, and being bullish on North America.
Credit Suisse Global Steel and Mining Conferencefinance15
The document is a presentation by United States Steel Corporation given at the Credit Suisse Global Steel and Mining Conference on September 24, 2008. It provides an overview of USS's business segments, including its flat-rolled, tubular, and European steel operations. It also discusses USS's raw materials integration in North America and capital allocation approach to maintaining a strong balance sheet and generating returns for shareholders.
The document discusses different perspectives on energy risks in 2011, including importing countries concerned with supply security, energy users facing price volatility and transition to new fuels, exporting countries dealing with changing demand patterns, and stakeholders focused on environmental risks. It also examines the investing company's perspective on technical, environmental, and market risks in the energy industry in 2011.
- El Paso Corporation has made significant progress in its turnaround, reducing debt from $20.5 billion to $15.9 billion and selling $4.3 billion in assets to focus on its pipeline and production businesses.
- The company's pipeline group owns major interstate pipelines and has a portfolio of growth projects to expand access to new natural gas supplies and growing markets. Its production business has stabilized production and increased reserves through acquisitions and improved drilling.
- Moving forward, El Paso aims to further reduce debt, generate free cash flow, complete the turnaround of production, and achieve additional cost reductions as it builds on its recent successes.
This document outlines the specifications and application procedures for refineries to have their gold and silver bars listed as "Good Delivery" by the London Bullion Market Association (LBMA). Some key points:
- Refineries must meet certain criteria including a minimum production level, net worth, and years in operation to be considered for the Good Delivery List.
- The application process involves submitting documents about ownership, operations, and finances. Refineries must also demonstrate assaying capability by analyzing reference samples to strict accuracy standards.
- If the application is accepted, the refinery provides bars for technical testing to specifications covering dimensions, weight, purity, and other quality metrics. Successful applicants are added to the Good Delivery
This document summarizes a presentation by Timur Yanbukhtin of EVRAZ Group at a UBS Investment Conference on October 22, 2009. It discusses EVRAZ's execution of cost-cutting measures and production optimization plans during the economic downturn. These included shutdown of inefficient capacity, cost savings of 35-42% year-over-year, and capex reductions of 62% in 1H09. It also provides an overview of debt repayments, liquidity position, and expectations for improved financial results in 2H09 as destocking ends and demand/prices recover in key markets.
Rowan provided an investor presentation in December 2015. The presentation discussed Rowan's position as a pure play offshore driller with a high-specification fleet. It highlighted Rowan's strong financial position, experienced workforce, and contract backlog diversified among premium customers and regions. The presentation also analyzed market dynamics, noting that more capable rigs are likely to work through the challenging market cycle due to customer demand for higher-specification assets. Rowan believes its strategic focus on demanding wells positions it to benefit from executing operational efficiency, cost control, and optimal capital allocation to deliver strong shareholder returns.
The document summarizes United States Steel Corporation's operations and outlook. It discusses the company's position as the 5th largest global steel producer and 2nd largest producer in North America. It also outlines U.S. Steel's segments including flat-rolled steel, U.S. Steel Canada, European operations, and tubular products. Finally, it expresses optimism about the outlook for North American integrated steel producers.
KeyBanc Capital Markets Basic Materials and Packaging Conferencefinance15
This document provides an overview and summary of United States Steel Corporation's operations presented at a conference in September 2008. It discusses USSC's goal of growing responsibly while generating returns. It summarizes USSC's production capabilities, acquisition of Stelco, synergies from the Stelco acquisition, overview of its flat-rolled, European, tubular, and Canadian segments. It also discusses industry trends, the improving steel industry outlook, and being bullish on North America.
Credit Suisse Global Steel and Mining Conferencefinance15
The document is a presentation by United States Steel Corporation given at the Credit Suisse Global Steel and Mining Conference on September 24, 2008. It provides an overview of USS's business segments, including its flat-rolled, tubular, and European steel operations. It also discusses USS's raw materials integration in North America and capital allocation approach to maintaining a strong balance sheet and generating returns for shareholders.
The document discusses different perspectives on energy risks in 2011, including importing countries concerned with supply security, energy users facing price volatility and transition to new fuels, exporting countries dealing with changing demand patterns, and stakeholders focused on environmental risks. It also examines the investing company's perspective on technical, environmental, and market risks in the energy industry in 2011.
- El Paso Corporation has made significant progress in its turnaround, reducing debt from $20.5 billion to $15.9 billion and selling $4.3 billion in assets to focus on its pipeline and production businesses.
- The company's pipeline group owns major interstate pipelines and has a portfolio of growth projects to expand access to new natural gas supplies and growing markets. Its production business has stabilized production and increased reserves through acquisitions and improved drilling.
- Moving forward, El Paso aims to further reduce debt, generate free cash flow, complete the turnaround of production, and achieve additional cost reductions as it builds on its recent successes.
This document outlines the specifications and application procedures for refineries to have their gold and silver bars listed as "Good Delivery" by the London Bullion Market Association (LBMA). Some key points:
- Refineries must meet certain criteria including a minimum production level, net worth, and years in operation to be considered for the Good Delivery List.
- The application process involves submitting documents about ownership, operations, and finances. Refineries must also demonstrate assaying capability by analyzing reference samples to strict accuracy standards.
- If the application is accepted, the refinery provides bars for technical testing to specifications covering dimensions, weight, purity, and other quality metrics. Successful applicants are added to the Good Delivery
This document summarizes a presentation by Timur Yanbukhtin of EVRAZ Group at a UBS Investment Conference on October 22, 2009. It discusses EVRAZ's execution of cost-cutting measures and production optimization plans during the economic downturn. These included shutdown of inefficient capacity, cost savings of 35-42% year-over-year, and capex reductions of 62% in 1H09. It also provides an overview of debt repayments, liquidity position, and expectations for improved financial results in 2H09 as destocking ends and demand/prices recover in key markets.
Rowan provided an investor presentation in December 2015. The presentation discussed Rowan's position as a pure play offshore driller with a high-specification fleet. It highlighted Rowan's strong financial position, experienced workforce, and contract backlog diversified among premium customers and regions. The presentation also analyzed market dynamics, noting that more capable rigs are likely to work through the challenging market cycle due to customer demand for higher-specification assets. Rowan believes its strategic focus on demanding wells positions it to benefit from executing operational efficiency, cost control, and optimal capital allocation to deliver strong shareholder returns.
Rdc investor presentation -- december 2015RowanCompanies
Rowan is well positioned in the current challenging offshore drilling market due to its high-specification fleet and strong financial position. The company has a diversified backlog of $4.1 billion that extends to 2024, with over 80% from national oil companies or investment grade customers. Rowan has no newbuild capex commitments or debt maturities through 2017. Its high-specification jack-ups and best-in-class drillships are expected to outperform through the market cycle due to customer demand for more capable rigs.
Credit Suisse Group Global Airline Conference Presentationfinance11
This document contains a presentation by Beverly Goulet, Vice President of Corporate Development and Treasurer of an unnamed company. The presentation includes slides on the company's 3Q08 results showing a net loss compared to earnings in the prior year. Additional slides provide details on oil prices, the company's hedging strategy, total debt levels, planned 2009 capacity reductions, new and modified fees, investments in the future, and alliances. The presentation contains forward-looking statements and refers readers to SEC filings and a webcast for further information.
Microsoft word mmx earnings release 2 q12 versão final - inglesmmxriweb
- MMX Mineração e Metálicos S.A. released its results for the 2nd quarter of 2012, showing signs of recovery after weak 1Q12 results due to heavy rains. Key highlights included obtaining an installation license for the Serra Azul expansion and resuming iron ore shipments from Corumbá.
- Total iron ore sales were 1.7 million tons, up 22% from 1Q12. However, global economic uncertainties and lower Chinese demand negatively impacted iron ore prices.
- EBITDA was R$13.9 million, up 231% from 1Q12 but down 82% from 2Q11. The company expects global steel production to remain stable in 2012 and resume
Rdc investor presentation -- november 2015RowanCompanies
Rowan provides an investor presentation highlighting the company's positioning in the challenging offshore drilling market. The presentation notes that Rowan has evolved into a pure play high-specification offshore driller with a strong financial position. Rowan's fleet of 32 offshore drilling units, including 19 high-specification jack-ups and 4 ultra-deepwater drillships, is well positioned to work through the current market cycle due to the increasing customer demand for more capable rigs. The presentation also outlines Rowan's solid contract backlog, experienced workforce, and competitive advantages compared to peers.
Transport and Logistics
- With effect from 1st January 2017 the five businesses
were consolidated into Transport & Logistics and the
operational integration has started
- The new strategy focusing on cost leadership, customer
experience and growth was announced at CMD
- Synergies of around USD 150m are expected in 2017
from integration of businesses
- Tight capital discipline has been implemented
- Due diligence process of Hamburg Süd is progressing
according to plan with expectations of final agreement
signed early Q2 2017
Energy
• The businesses in Energy continue to be managed and
operated as individual companies to optimise
shareholder value
• Organisational setup in place to find sustainable
solutions for the oil- and oil related businesses in the
Energy division
• Tight capital discipline has been implemented
• Update on progress on finding the structural solutions,
which include mergers, joint ventures or listings of the
businesses either individually or combined will be
published in due course.
On September 25, 2013, PLG Consulting President Taylor Robinson presented at Industrial Minerals’ Frac Sands Conference in Minneapolis, Minnesota. The premise of the conference is: 'After the Gold Rush'; providing an in-depth assessment of exactly how the industry has reached its current heights and, importantly, where it is headed next. Taylor’s presentation, entitled “Mine to Market – How the Industry Has Matured,” gives current and future insight to all key aspects of the rapidly maturing frac sand supply chain.
Rowan has evolved into a pure play, high-specification offshore driller with a modern fleet of 31 drilling units. The company has a strong financial position with $2.7 billion in total debt and only $755 million in debt maturities through 2021. Rowan is well positioned to navigate the current challenging market due to its focus on high-specification assets, solid customer relationships, and flexible financial profile. The company aims to deliver shareholder value by focusing on strong financial returns, efficient operations, and maximizing the earnings power of its fleet.
Bulk Commodity Price Index® is an assessment of the average price of the 12 major bulk materials,
taking the prices on January 2 2015 at 1,000 pts.
The index value is calculated as the average of the index for each commodities
multiplied by the corresponding weights derived from seaborne bulk trade volume in 2015
www.JinreSearch.com
El Paso Corporation provides natural gas and related energy products across North America. It has two core businesses: interstate pipelines and exploration and production. The company has a $3 billion growth backlog for its pipeline business and expects 6-8% annual EBIT growth. Its E&P business is focused on resource plays in the US and exploration internationally. El Paso expects 8-12% annual production growth through high-grading its portfolio and $1.7 billion capital investment in 2008. It enters the year with solid hedge positions on natural gas and oil.
Rowan has evolved into a pure play, high-specification offshore driller with a modern fleet of 31 drilling units. The company has a strong financial position with $2.7 billion in total debt and $0.8 billion in debt maturities through 2021. Rowan is well positioned in key offshore drilling markets with its fleet of 19 high-specification jack-ups and 4 best-in-class drillships. The company aims to deliver shareholder value by focusing on strong financial returns, highest customer satisfaction, and being the best place to work.
el paso 09_04LehmanBrothersConference_FINALfinance49
El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. The company focuses on developing a culture where it is the best place to work, a good neighbor, and a company worth owning. El Paso has leading positions in interstate pipelines and exploration and production. The interstate pipelines are the cornerstone of the company and provide stable earnings growth. El Paso is also improving its exploration and production business through portfolio upgrades and increased drilling activity. The company is making financial progress through debt reduction and expects an excellent outlook.
J P Morgan & Chase provides various financial services to both consumer (B2C) and business (B2B) clients globally. It aims to integrate environmental sustainability into its business model. It also supports human rights principles across all regions. The document discusses JPMC's business classifications, financial highlights, latest B2B offerings, and environmental and human rights policies. It also includes some sample questions and answers about JPMC's business.
JPMorgan Chase announced a $2 billion loss from trading financial derivatives in its Chief Investment Office in London. The losses occurred when traders placed large bets on credit default swap indexes to hedge previous positions, but the new bets introduced unaccounted risks and backfired. Regulators are investigating the trades and their implications for financial reform regulations around banks' trading and hedging activities. The losses also renewed debates around how much risk big banks should take.
J.P. Morgan Chase & Co. is an American multinational banking corporation founded in 2000 with $2.2 trillion in assets and 250,000 employees operating in 150 countries. The company aims to strengthen communities through expanding access to capital, leadership, and leveraging resources. Jamie Dimon serves as Chairman and CEO, overseeing diversity recruiting efforts led by Mark Settles. The company hosts "Lunch and Learns" with top executives and has various employee networking groups to attract, retain, and develop a diverse talent pool. J.P. Morgan Chase strives to link management rewards to diversity progress and build a diverse pipeline through universities and industry groups.
The 1997-1998 Asian Financial Crisis had spill over effects on the United States economy through trade, capital flows, and financial market interlinkages. It reduced U.S. exports to Asia but boosted some domestic sectors. Specific industries like high-tech, agriculture, and textiles saw declines in exports to Asia, while financial institutions and some businesses faced losses. However, overall the crisis led to lower interest rates and inflation in the U.S. which stimulated the domestic economy.
J.P. Morgan has over 200 years of history as a financial institution. It has grown through mergers and acquisitions, including forming from the merger of Chase Manhattan Corporation and J.P. Morgan & Co. in 2000. J.P. Morgan played an important role during financial crises like the 2008 crisis, and has historically shown leadership. It is now the largest bank in the U.S. by assets, providing a wide range of financial services globally.
China and the Global Economic Crisis Forummeijifong
This document discusses China and the global financial crisis from the perspective of Dr. Meiji Fong. It provides an analysis of the triggers and stresses that led to the economic collapse, including the collapse of the subprime mortgage and securitized mortgage loan markets. It discusses the US Troubled Asset Relief Program (TARP) and stimulus packages, as well as China's role and its own stimulus package. The document also discusses the World Bank, IMF, and their roles in international monetary management and providing loans to governments.
The document provides an overview of the global financial crisis of 2008. It discusses several key points:
- The US housing market boom from 2002-2006 led to a housing price bubble that eventually burst, contributing to the crisis. As housing prices declined sharply from their 2006 peak, foreclosures and defaults increased substantially.
- Loose monetary policy by the US Federal Reserve from 2002-2004, keeping interest rates low, fueled risky lending and the housing bubble. When rates rose in 2005-2006, the default rate on adjustable mortgages skyrocketed.
- Highly leveraged investment banks collapsed in 2008 as default rates rose due to declining lending standards. Stock prices around the world plummeted nearly 40
Canadian Arrow Mines Ltd. is a nickel-copper producer with 3 key assets containing over 104 million pounds of nickel. These include the Kenbridge nickel-copper project estimated to have a net present value of $253 million, and the Alexo and Kelex nickel mines. Arrow also retains a 2% royalty interest in the Hart nickel project that is estimated to provide $9 million in revenue. However, Arrow's current market capitalization of $12 million represents a 96% discount to its estimated net asset value of $282 million. The company plans to restart production at Alexo and Kelex to generate near-term cash flow and fund development of the larger Kenbridge project.
This document provides an overview of Commercial Metals Company (CMC) and its quarterly performance. It discusses CMC's business model, including its vertical integration and product and geographic diversification. It also summarizes CMC's financial performance from 2003-2007, highlighting increasing sales, earnings, and shareholder returns over that period. Current market conditions and CMC's outlook are briefly addressed.
This document provides an annual review and financial results for Anglo American for 2008. Key points include:
- Anglo American achieved record operating profits from core operations despite a significant reduction in commodity prices in the second half of 2008.
- Safety performance showed continued improvement over 2007.
- Actions were taken to position the company for the downturn, including a over 50% reduction in capital expenditures for 2009 and cost reduction programs.
- Underlying earnings were $5.8 billion for 2008, down 9% from 2007, with an effective tax rate of 31.8% and return on capital employed of 36.8%.
Rdc investor presentation -- december 2015RowanCompanies
Rowan is well positioned in the current challenging offshore drilling market due to its high-specification fleet and strong financial position. The company has a diversified backlog of $4.1 billion that extends to 2024, with over 80% from national oil companies or investment grade customers. Rowan has no newbuild capex commitments or debt maturities through 2017. Its high-specification jack-ups and best-in-class drillships are expected to outperform through the market cycle due to customer demand for more capable rigs.
Credit Suisse Group Global Airline Conference Presentationfinance11
This document contains a presentation by Beverly Goulet, Vice President of Corporate Development and Treasurer of an unnamed company. The presentation includes slides on the company's 3Q08 results showing a net loss compared to earnings in the prior year. Additional slides provide details on oil prices, the company's hedging strategy, total debt levels, planned 2009 capacity reductions, new and modified fees, investments in the future, and alliances. The presentation contains forward-looking statements and refers readers to SEC filings and a webcast for further information.
Microsoft word mmx earnings release 2 q12 versão final - inglesmmxriweb
- MMX Mineração e Metálicos S.A. released its results for the 2nd quarter of 2012, showing signs of recovery after weak 1Q12 results due to heavy rains. Key highlights included obtaining an installation license for the Serra Azul expansion and resuming iron ore shipments from Corumbá.
- Total iron ore sales were 1.7 million tons, up 22% from 1Q12. However, global economic uncertainties and lower Chinese demand negatively impacted iron ore prices.
- EBITDA was R$13.9 million, up 231% from 1Q12 but down 82% from 2Q11. The company expects global steel production to remain stable in 2012 and resume
Rdc investor presentation -- november 2015RowanCompanies
Rowan provides an investor presentation highlighting the company's positioning in the challenging offshore drilling market. The presentation notes that Rowan has evolved into a pure play high-specification offshore driller with a strong financial position. Rowan's fleet of 32 offshore drilling units, including 19 high-specification jack-ups and 4 ultra-deepwater drillships, is well positioned to work through the current market cycle due to the increasing customer demand for more capable rigs. The presentation also outlines Rowan's solid contract backlog, experienced workforce, and competitive advantages compared to peers.
Transport and Logistics
- With effect from 1st January 2017 the five businesses
were consolidated into Transport & Logistics and the
operational integration has started
- The new strategy focusing on cost leadership, customer
experience and growth was announced at CMD
- Synergies of around USD 150m are expected in 2017
from integration of businesses
- Tight capital discipline has been implemented
- Due diligence process of Hamburg Süd is progressing
according to plan with expectations of final agreement
signed early Q2 2017
Energy
• The businesses in Energy continue to be managed and
operated as individual companies to optimise
shareholder value
• Organisational setup in place to find sustainable
solutions for the oil- and oil related businesses in the
Energy division
• Tight capital discipline has been implemented
• Update on progress on finding the structural solutions,
which include mergers, joint ventures or listings of the
businesses either individually or combined will be
published in due course.
On September 25, 2013, PLG Consulting President Taylor Robinson presented at Industrial Minerals’ Frac Sands Conference in Minneapolis, Minnesota. The premise of the conference is: 'After the Gold Rush'; providing an in-depth assessment of exactly how the industry has reached its current heights and, importantly, where it is headed next. Taylor’s presentation, entitled “Mine to Market – How the Industry Has Matured,” gives current and future insight to all key aspects of the rapidly maturing frac sand supply chain.
Rowan has evolved into a pure play, high-specification offshore driller with a modern fleet of 31 drilling units. The company has a strong financial position with $2.7 billion in total debt and only $755 million in debt maturities through 2021. Rowan is well positioned to navigate the current challenging market due to its focus on high-specification assets, solid customer relationships, and flexible financial profile. The company aims to deliver shareholder value by focusing on strong financial returns, efficient operations, and maximizing the earnings power of its fleet.
Bulk Commodity Price Index® is an assessment of the average price of the 12 major bulk materials,
taking the prices on January 2 2015 at 1,000 pts.
The index value is calculated as the average of the index for each commodities
multiplied by the corresponding weights derived from seaborne bulk trade volume in 2015
www.JinreSearch.com
El Paso Corporation provides natural gas and related energy products across North America. It has two core businesses: interstate pipelines and exploration and production. The company has a $3 billion growth backlog for its pipeline business and expects 6-8% annual EBIT growth. Its E&P business is focused on resource plays in the US and exploration internationally. El Paso expects 8-12% annual production growth through high-grading its portfolio and $1.7 billion capital investment in 2008. It enters the year with solid hedge positions on natural gas and oil.
Rowan has evolved into a pure play, high-specification offshore driller with a modern fleet of 31 drilling units. The company has a strong financial position with $2.7 billion in total debt and $0.8 billion in debt maturities through 2021. Rowan is well positioned in key offshore drilling markets with its fleet of 19 high-specification jack-ups and 4 best-in-class drillships. The company aims to deliver shareholder value by focusing on strong financial returns, highest customer satisfaction, and being the best place to work.
el paso 09_04LehmanBrothersConference_FINALfinance49
El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. The company focuses on developing a culture where it is the best place to work, a good neighbor, and a company worth owning. El Paso has leading positions in interstate pipelines and exploration and production. The interstate pipelines are the cornerstone of the company and provide stable earnings growth. El Paso is also improving its exploration and production business through portfolio upgrades and increased drilling activity. The company is making financial progress through debt reduction and expects an excellent outlook.
J P Morgan & Chase provides various financial services to both consumer (B2C) and business (B2B) clients globally. It aims to integrate environmental sustainability into its business model. It also supports human rights principles across all regions. The document discusses JPMC's business classifications, financial highlights, latest B2B offerings, and environmental and human rights policies. It also includes some sample questions and answers about JPMC's business.
JPMorgan Chase announced a $2 billion loss from trading financial derivatives in its Chief Investment Office in London. The losses occurred when traders placed large bets on credit default swap indexes to hedge previous positions, but the new bets introduced unaccounted risks and backfired. Regulators are investigating the trades and their implications for financial reform regulations around banks' trading and hedging activities. The losses also renewed debates around how much risk big banks should take.
J.P. Morgan Chase & Co. is an American multinational banking corporation founded in 2000 with $2.2 trillion in assets and 250,000 employees operating in 150 countries. The company aims to strengthen communities through expanding access to capital, leadership, and leveraging resources. Jamie Dimon serves as Chairman and CEO, overseeing diversity recruiting efforts led by Mark Settles. The company hosts "Lunch and Learns" with top executives and has various employee networking groups to attract, retain, and develop a diverse talent pool. J.P. Morgan Chase strives to link management rewards to diversity progress and build a diverse pipeline through universities and industry groups.
The 1997-1998 Asian Financial Crisis had spill over effects on the United States economy through trade, capital flows, and financial market interlinkages. It reduced U.S. exports to Asia but boosted some domestic sectors. Specific industries like high-tech, agriculture, and textiles saw declines in exports to Asia, while financial institutions and some businesses faced losses. However, overall the crisis led to lower interest rates and inflation in the U.S. which stimulated the domestic economy.
J.P. Morgan has over 200 years of history as a financial institution. It has grown through mergers and acquisitions, including forming from the merger of Chase Manhattan Corporation and J.P. Morgan & Co. in 2000. J.P. Morgan played an important role during financial crises like the 2008 crisis, and has historically shown leadership. It is now the largest bank in the U.S. by assets, providing a wide range of financial services globally.
China and the Global Economic Crisis Forummeijifong
This document discusses China and the global financial crisis from the perspective of Dr. Meiji Fong. It provides an analysis of the triggers and stresses that led to the economic collapse, including the collapse of the subprime mortgage and securitized mortgage loan markets. It discusses the US Troubled Asset Relief Program (TARP) and stimulus packages, as well as China's role and its own stimulus package. The document also discusses the World Bank, IMF, and their roles in international monetary management and providing loans to governments.
The document provides an overview of the global financial crisis of 2008. It discusses several key points:
- The US housing market boom from 2002-2006 led to a housing price bubble that eventually burst, contributing to the crisis. As housing prices declined sharply from their 2006 peak, foreclosures and defaults increased substantially.
- Loose monetary policy by the US Federal Reserve from 2002-2004, keeping interest rates low, fueled risky lending and the housing bubble. When rates rose in 2005-2006, the default rate on adjustable mortgages skyrocketed.
- Highly leveraged investment banks collapsed in 2008 as default rates rose due to declining lending standards. Stock prices around the world plummeted nearly 40
Canadian Arrow Mines Ltd. is a nickel-copper producer with 3 key assets containing over 104 million pounds of nickel. These include the Kenbridge nickel-copper project estimated to have a net present value of $253 million, and the Alexo and Kelex nickel mines. Arrow also retains a 2% royalty interest in the Hart nickel project that is estimated to provide $9 million in revenue. However, Arrow's current market capitalization of $12 million represents a 96% discount to its estimated net asset value of $282 million. The company plans to restart production at Alexo and Kelex to generate near-term cash flow and fund development of the larger Kenbridge project.
This document provides an overview of Commercial Metals Company (CMC) and its quarterly performance. It discusses CMC's business model, including its vertical integration and product and geographic diversification. It also summarizes CMC's financial performance from 2003-2007, highlighting increasing sales, earnings, and shareholder returns over that period. Current market conditions and CMC's outlook are briefly addressed.
This document provides an annual review and financial results for Anglo American for 2008. Key points include:
- Anglo American achieved record operating profits from core operations despite a significant reduction in commodity prices in the second half of 2008.
- Safety performance showed continued improvement over 2007.
- Actions were taken to position the company for the downturn, including a over 50% reduction in capital expenditures for 2009 and cost reduction programs.
- Underlying earnings were $5.8 billion for 2008, down 9% from 2007, with an effective tax rate of 31.8% and return on capital employed of 36.8%.
First Quantum is a significant copper and growing nickel producer that is on the cusp of transformational growth through projects that will triple its copper production capacity and increase annual nickel production to 125,000 tonnes. It has a strong financial position with $375 million in cash and $1.25 billion in available financing. First Quantum has delivered the best copper growth in the industry over the past decade and leading shareholder returns through efficient project delivery at costs below industry norms. It aims to be within the top 10 largest copper and nickel producers globally by 2016.
The document summarizes a $10.8 billion joint venture between Ma'aden and Alcoa in Saudi Arabia to develop an integrated aluminum industry. The joint venture includes a bauxite mine, alumina refinery, aluminum smelter, and rolling mill. It will be the first integrated aluminum complex in the Gulf region. The project is proceeding rapidly, with first production from the smelter and rolling mill expected in 2013 and from the mine and refinery in 2014. The project establishes Saudi Arabia as a global leader in aluminum and creates economic opportunities for the country.
The document summarizes a $10.8 billion joint venture between Ma'aden and Alcoa in Saudi Arabia to build integrated aluminum infrastructure, including a mine, refinery, smelter and rolling mill. Phase 1 is already operational and producing aluminum ingots, billets and slabs. Phase 2 will further expand production capacity. The project establishes Saudi Arabia's first fully integrated aluminum industry and creates economic opportunities for Saudi citizens through thousands of jobs. It also positions the partners and the Kingdom to capture growth in global aluminum demand driven by population growth, urbanization and rising energy consumption.
International Lithium Corp Presents at Vancouver Electric Vehicles Associatio...SlideShare
International Lithium (subsidiary of TNR Gold Corp TNR:TSXV) presents at VEVA June 2010. Includes an overview of the lithium industry, Lithium 101 (what it's about), and great background information on how Lithium is produced.
The document summarizes trends in the Brazilian foundry industry. It notes that Brazil has a large population and economy and is the 7th largest producer of cast metals worldwide. The foundry industry employs over 67,000 people and had exports of $13.3 billion in 2011, primarily to Argentina, the US, and China. However, the industry needs $3.75 billion in investments by 2016 to expand production capacity and meet growing domestic demand, especially from infrastructure projects and the automobile industry. The foundry industry remains an important part of Brazil's industrial base.
This document provides an overview of Reliance Steel & Aluminum Co. It summarizes the company's profile, including that it is a NYSE-listed metals service center company founded in 1939 with $5.7 billion in annual revenues. It also outlines the company's role in processing and distributing over 100,000 metal products to over 125,000 customers. Recent acquisitions, financial results, product sales breakdowns, and geographic footprint are summarized. The presentation highlights Reliance's diversification, acquisition strategy, and focus on shareholder value creation.
Industry Analysis-Steel Industry of Indiasandeep7162
The steel industry in India is the 5th largest producer of crude steel globally and is expected to become the 2nd largest by 2015. Major players include Tata Steel, SAIL, JSW Steel, and Jindal Steel. The industry is growing at around 8-9% annually due to increased infrastructure investment and automobile growth. Success factors for steel companies include low production costs, expanding downstream value-added products, technology improvements, and pursuing mergers and acquisitions for economies of scale. The industry faces competition from new entrants and substitutes but benefits from growing domestic demand.
The document summarizes the proposed transaction between MMX and SK Networks. Key points include:
- SK Networks will invest up to $2.2 billion in MMX through a capital increase in exchange for shares and rights to iron ore offtake.
- MMX will acquire Sudeste Superport, valued at $2.2 billion, through a combination of shares, cash, and royalties.
- SK Networks will receive 50% of production from MMX Chile mines and a percentage of MMX Sudeste production, securing them long-term supply.
The transaction aims to accelerate MMX's consolidation strategy and secure logistics and offtake for both companies.
Objective Capital Rare Earths, Speciality and Minor Metals Investment Summit
The challenges of developing a lithium project
– reopening the Quebec Lithium Project
18 March 2010
by Peter Secker, Canada Lithium
Objective Capital's Rare Earths, Speciality & Strategic Metals
Investment Summit 2012
Ironmongers' Hall, City of London
13-14 March 2012
Speaker: Thomas Krause, Chemetall Lithium
This document provides an overview of Reliance Steel & Aluminum Co. It summarizes that Reliance is a metals service center company founded in 1939 with $5.7 billion in annual revenues. It has over 180 locations in North America and Europe and processes and distributes over 100,000 metal products to over 125,000 customers. The document highlights Reliance's acquisition strategy, recent acquisitions including Earle M. Jorgensen and Yarde Metals, and financial performance with record sales and earnings in 2006.
Overcapacity in eu and nafta where is it? by Marcel Genet Laplace ConseilAudrey Bayard
The document discusses the shift from integrated steel mills to minimills over the last 40 years. Minimills, which use electric arc furnaces to melt scrap steel, have lower costs and more flexibility than traditional blast furnace mills. The share of steel produced by minimills has been growing steadily in Europe and North America. Recently, access to cheap shale gas in the US has improved the competitiveness of direct reduced iron plants, which may further increase minimills' market share. Most overcapacity in the steel industry is currently found in integrated blast furnace mills, especially in Europe and North America.
1. Copper prices rose in July, reaching over $5,750 per tonne, on concerns over tight supply and healthy Chinese demand. However, GFMS forecasts an overall copper surplus of 245,000 tonnes for 2009 as consumption declines outweigh production losses.
2. GFMS expects copper prices to fall to around $5,000 per tonne before recovering later in the year, and forecasts prices will trade between $5,000-6,500 per tonne from August to November.
3. Recent copper market news included production declines reported by several major miners as well as a rise in Japanese copper cable shipments, although shipments remain well below last year's levels.
This document provides an overview of Reliance Steel & Aluminum Co., a metals service center company. It discusses the company's profile, role in the supply chain, recent acquisitions and internal growth accomplishments. Key points include that Reliance services over 125,000 customers, has over 180 locations globally, completed five acquisitions in 2007, and the largest acquisitions were Earle M. Jorgensen Company and Yarde Metals, Inc. Carbon steel products represent the largest portion of 2007 sales by commodity and the Midwest region accounts for the most sales by region.
ArcelorMittal reported its 4Q 2012 and FY 2012 results. Key highlights include:
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- Net debt decreased by $1.4 billion in 4Q 2012 to $21.8 billion through positive free cash flow and asset sales.
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The document discusses MMX Mineração e Metálicos S.A., a Brazilian mining company. It notes that MMX has delivered on several projects and partnerships since its IPO in 2006, including developing its Sudeste iron ore system. MMX owns the Serra Azul and Bom Sucesso mines in the Sudeste system, which have high-quality iron ore reserves. MMX's Sudeste system has secured logistics to transport iron ore via rail and barges to the Sudeste Superport for export, utilizing MRS Logística railways and the Açu Superport. The document presents MMX as a unique, experienced mining company with a proven ability to deliver
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This document is a Form 10-Q quarterly report filed by Google Inc. with the SEC for the quarter ended September 30, 2004. The summary provides:
- Google reported revenues of $805.9 million for the quarter, up from $393.9 million in the same quarter the previous year. Net income was $52 million compared to $20.4 million.
- Costs and expenses for the quarter were $794.8 million, primarily driven by a $201 million settlement payment to Yahoo.
- As of September 30, 2004, Google held $344.5 million in cash and cash equivalents and $1.5 billion in short-term investments.
This document is Google's Form 10-Q quarterly report filed with the SEC for the quarter ending March 31, 2005. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter, Google's revenues increased 93% year-over-year to $1.26 billion, with net income increasing 478% to $369 million. Cash and marketable securities totaled $2.5 billion as of March 31, 2005. Management's discussion and analysis provides details on financial results and business outlook.
This document is Google's Form 10-Q filing with the SEC for the quarterly period ended June 30, 2005. It includes Google's condensed consolidated balance sheets as of December 31, 2004 and June 30, 2005 (unaudited), as well as condensed consolidated statements of income and cash flows for the three and six month periods ended June 30, 2004 and 2005 (unaudited). Notes to the unaudited condensed consolidated financial statements are also provided. The filing provides key financial information about Google's financial position and performance during the reported periods.
This document is Google's Form 10-Q filing with the SEC for the quarterly period ended September 30, 2005. It includes Google's condensed consolidated balance sheets as of December 31, 2004 and September 30, 2005, which shows an increase in total assets from $2.7 billion to $8.4 billion over that period. It also includes condensed consolidated statements of income for quarters ended September 30, 2004 and 2005 and condensed consolidated statements of cash flows for the nine month periods ended September 30, 2004 and 2005. The filing also includes notes to the unaudited condensed consolidated financial statements and sections for management's discussion of financial results, market risk disclosures, and controls and procedures.
This document is Google Inc.'s Form 10-Q filing for the quarterly period ended June 30, 2006. It provides financial statements and disclosures including the condensed consolidated balance sheet, statements of income, and statements of cash flows. Revenues increased significantly year-over-year to $2.46 billion for the quarter due to growth in advertising revenues. Net income for the quarter was $721.1 million, also up significantly from the prior year.
- The document is Google Inc.'s Form 10-Q filing with the SEC for the quarter ended September 30, 2006.
- It provides Google's condensed consolidated financial statements, including balance sheets, income statements, and cash flow statements for the periods presented.
- The financial statements show Google's revenues increased to $2.7 billion for the quarter from $1.6 billion in the prior year, while net income increased to $733 million from $381 million.
- The document discusses Google's Q3 2006 earnings conference call, reporting 70% year-over-year revenue growth and 10% quarter-over-quarter growth driven by increased monetization and traffic.
- Operating income and net income reached record levels, and the company continued investing in products and infrastructure while forming new partnerships.
- Google agreed to acquire YouTube for $1.65 billion in stock, hoping to enable anyone to upload, watch and share videos worldwide.
Google reported strong financial results for Q4 2006 with 67% year-over-year revenue growth and 19% quarter-over-quarter growth. Revenues increased due to a healthy holiday season with strong traffic growth as well as international revenue growth, particularly in Germany and France. Costs and expenses grew but Google continued investing aggressively in employees and infrastructure for long term success. Non-GAAP net income was $997.3 million, up 23% from the previous quarter.
Google reported strong revenue growth in Q1 2007, with revenue up 63% year-over-year and 14% quarter-over-quarter. International markets contributed significantly to revenue growth. Non-GAAP net income was $1.16 billion, with continued investments in infrastructure and employees. Google also announced an agreement to acquire DoubleClick during the quarter.
Google reported strong revenue growth of 58% year-over-year and 6% quarter-over-quarter for Q2 2007. Investments in hiring and infrastructure remained priorities. Google continued to lead in search and ads while launching new products. International revenue increased significantly in key markets like Spain, Italy and France.
- The document is Google Inc.'s Form 10-Q filing with the SEC for the quarterly period ended September 30, 2007.
- It provides Google's consolidated financial statements including balance sheets, income statements, and cash flow statements for interim periods.
- The financial statements show Google's revenues increased over the comparable prior year periods as did costs and expenses, resulting in increased income from operations and net income.
- Google reported revenue growth of 57% year-over-year and 9% quarter-over-quarter for Q3 2007, driven by increases in Google properties revenue and network revenues.
- International markets continued to show strong growth, accounting for over 50% of total revenue.
- The company continued executing on its Search.Ads.Apps strategy and expanding its product offerings.
- Google reported strong revenue growth of 51% year-over-year and 14% quarter-over-quarter for Q4 2007, driven by growth in Google properties revenue and network revenues.
- Executing on its Search.Ads.Apps strategy led to improved search quality worldwide and better advertiser control and return on investment. Significant progress was also made in mobile with the launch of Android.
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Google reported strong financial results for Q1 2008 with revenue growth of 42% year-over-year and 7% quarter-over-quarter. Revenue from Google properties grew 49% year-over-year driven by growth in search and international markets. Operating expenses increased but margins remained high at 30% due to operational discipline. Free cash flow was $938 million for the quarter.
Google reported strong revenue growth of 39% year-over-year for Q2 2008. International revenue grew significantly while search quality improvements and ad quality initiatives continued. Costs remained a focus while investing in opportunities. Free cash flow increased substantially from the prior quarter.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
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OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
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2. Forward-Looking Statements
This presentation contains forward-looking statements with respect to market conditions,
operating costs, shipments, prices and profit-based compensation payments. Some factors,
among others, that could affect 2007 market conditions, costs, shipments and prices for both
domestic operations and USSE include global product demand, prices and mix; global and
company steel production levels; raw materials' availability and prices; plant operating
performance; the timing and completion of facility projects; natural gas prices and usage and
availability; changes in environmental, tax and other laws; the resumption of operation of steel
facilities sold under the bankruptcy laws; employee strikes; power outages; and U.S. and global
economic performance and political developments. Domestic steel shipments and prices could be
affected by import levels and actions taken by the U.S. Government and its agencies. Political
factors in Europe that may affect USSE’s results include, but are not limited to, taxation,
nationalization, inflation, currency fluctuations, increased regulation, export quotas, tariffs, and
other protectionist measures. The level of income from operations is the primary factor affecting
payments under the USWA profit-based plans. In accordance with “safe harbor” provisions of the
Private Securities Litigation Reform Act of 1995, cautionary statements identifying important
factors, but not necessarily all factors, that could cause actual results to differ materially from those
set forth in the forward-looking statements have been included in the Form 10-K of U. S. Steel for
the year ended December 31, 2007, and in subsequent filings for U. S. Steel.
2
3. United States Steel Corporation
To grow responsibly while generating a competitive return on capital and meeting
our financial and stakeholder obligations
• 5th largest global steel producer – 31.7 mnt*
• 2nd Largest North American flat-rolled steel producer – 24 mnt*
• 2nd largest Central European flat-rolled steel producer – 7.4 mnt
• Largest North American tubular producer – 2.8 mnt
• North American raw materials balance
• ROCE:**
2007 - 21%
2006 - 29%
* Pro-Forma for Stelco acquisition
3
**ROCE = IFO/average(PPE + AR + Inventory – AP)
4. Flat-rolled segment
Leading producer of high quality product
• LTM 1Q’08 trade shipments – 18.1 million tons*
7 melt locations
• Approximately 50% contract, 40% spot & 10% indexed (CRU)
• Contract industries include: auto, appliance, tin and electrical
• Demands sophisticated metallurgical applications with
specialized customer service and technical support
• Typical contract term 1-3 years
• Contract business lessens impact of spot price fluctuations
4
* Pro-Forma for Stelco
5. U. S. Steel Canada
Acquisition closed 10/31/07
Created 5th largest global steel company
Complementary assets & attributes:
Capability to ship approximately 900,000 tons of slabs
to U. S. Steel facilities
Improve U. S. Steel’s finishing facility utilization
Annual synergies estimated to be in excess of $100 million:
Sourcing semi-finished product
Procurement, best practices and SG&A
5
6. U. S. Steel Canada Overview
Raw Steel British
Capability Columbia
Alberta
4.9 Million Net
Labrador
Manitoba
Tons:
Seignelay
Hamilton 2.3 Ontario
Saskatchewan Quebec
Lake Erie 2.6
Wabush
Hibbing
Raw Materials Minntac/
Tilden
Keetac
Ownership
Hamilton
Iron Ore
Lake Erie
Great Lakes
Minority shares of:
Gary
Hibbing Taconite Mon Valley
Tilden Mining
Granite City
Wabush Mining USSC Integrated Steel Mill
Seignelay Reserve USSC Iron Ore Mining
U. S. Steel Flat Rolled & Tubular
U. S. Steel Iron Ore Mining Fairfield
East Texas
66
7. European segment
Plants in both Slovakia (5.0 mmt) and Serbia (2.4 mmt)
• LTM 1Q’08 shipments – 6.1 million tons
• Approximately 70% spot versus 30% contracts
• Key industries: construction, service center, packaging and
conversion
• Dedicated new 386,000 tons automotive/appliance galvanize
line in September, 2007
• Strong growth rates and heavy infrastructure investment
7
8. Tubular segment
Oil country and Standard & Line pipe*
• LTM 1Q’08 – 1.8 million tons:
Seamless 865,000 tons
Welded 925,000 tons
• Primarily spot sales
• Oil Country 63%, Standard & Line 32%, Specialty Tube 5%
• Size ranges (outside diameter):
Seamless –1.9” to 26”
Welded – 1” to 20”
• Shipments:
NAFTA 95%
International 5%
* Pro-forma for Lone Star 8
9. Total U.S. Tubular Market
Source: Preston Pipe
Tons in Millions
20
OCTG
USS Tubular Seamless
Seamless
Line
15
Imports
Imports
Standard
10
Welded
Welded
Mechanical
Domestic
Domestic
5
Structural
Pressure
Stainless
0
9
10. Improving Industry – Why invest in Steel?
• Steel is a good product, provides excellent value
• Major regions with increasing consumption rates
• Governments mostly out of industry (ex China)
• Metallics are tight, flatter cost curve
• Low Valuation:
2008 P/E*
70.0x 63.0x
62.0x
54.0x
46.0x
38.0x
30.0x
22.6x
19.0x 18.9x
22.0x
14.3x
14.0x
6.0x
s
as
l
r
ol
te
Ca
ie
ae
od
Se
Pp
t it
Uil
* Source: Bloomberg
alr
10
Ri
11. Bullish on North America
Optimistic outlook for North American integrated producers
• Melt capacity relatively constrained
• High metallic costs (iron ore & scrap)
• High carbon costs (coal & coke)
• High import transportation costs
• Relatively weak US Dollar
• Low imports and inventory
11
12. Growing International Demand
Emerging markets continues to support strong global production
World crude steel production* (million metric tonnes) Share of global steel demand
1600
1200
800
400
0
2 0 0 8 **
2 0 0 9 **
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
World China Developing Developed
** IISI Estimate
Source: AISI Source: Macquarie 12
13. Strong business climate
Selected Price Trends – Through May 2008
$600
$1,075
Shredded scrap composite $/Gross ton Hot rolled $/Net Ton
$550
$975
$500
$875
$450
$775
$400
$350 $675
$300
$575
$250
$475
$200
$375
$150
$275
$100
$175
$50
O ct
J a n -0 2
J a n -0 3
J a n -0 4
J a n -0 5
J a n -0 6
J a n -0 7
J a n -0 8
M ar
J an
F eb
J une
Sept
M ay
J u ly
N ov
D ec
M a y -0 2
S e p -0 2
M a y -0 3
S e p -0 3
M a y -0 4
S e p -0 4
M a y -0 5
S e p -0 5
M a y -0 6
S e p -0 6
M a y -0 7
S e p -0 7
M a y -0 8
A p r il
Aug
2002 2003 2004 2005
USA HR German HR East Asian HR
2006 2007 2008 Source: CRU and SBB. 13
Source: D.J. Joseph Company
14. U. S. Steel - Global Raw Materials Integration
Control over key raw materials
Estimated annual global requirements:
Percent controlled – Production – Contract (volume & price) • Coking Coal – 12.5mnt
• Coke – 12mnt
100 • Iron Ore – 37.5mnt
• Second largest NA iron ore producer
80
produced 21 mmnt in 2007
reserves 849 mmnt
60
• Iron ore/coal mines and coke
production located close to steel
40
operations or supported by cost
competitive transportation facilities
20
• Produced 7.3 mmnt of coke in 2007
• International coke and coal prices are
0
high and volatile
8 9 08 09 08 09
'0 '0 e' e' e' e'
al al r r
k k
Co Co Co Co O
O • Exploring additional raw material
n
n
Iro
Iro
integration opportunities
Contract Own make
14
15. MSCI Flat Rolled Inventory
January 2004 – April 2008
11,000
CRU price 1,400
$575
$655
10,000
Sheet Inventory ‘000 tons
$510
Sheet Imports ‘000 tons
1,150
$740 $630
9,000 $565
$425
900
$402
8,000
$580 $520 $830
$550
650
7,000
6,000 400
Jan-04
Jul-04
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Apr-04
ct-04
Apr-05
ct-05
Apr-06
ct-06
Apr-07
ct-07
April-08
O
O
O
O
Sheet Inventory Sheet Imports
Source: MSCI, U.S. Dept of Customs and Purchasing Magazine 15
16. Raw Material Cost - Impact on hot rolled band costs
Raw material cost inflation has leveled the playing field – HRB cash cost $/ton
$700 $608
$592
$600 7% $510
9%
15% 13%
$500 17%
11%
$400
$270
$300 $190 $204
41%
19%
$200 24%
15%
24% 8%
$100
66% 78% 52% 78% 51% 72%
$0
'02
'08
'08
'02
'08
'02
1Q
2Q
2Q
2Q
1Q
1Q
China & other low-labor cost steel US flat-rolled mini-mill steel NA integrated steel producers
Producing countries producers
Raw Materials Energy Labor
Source: J.P. Morgan and company estimate 16
17. Capital Allocation – Building Value
To grow responsibly while generating a competitive return on capital and
meeting our financial and stakeholder obligations
• Maintain strong capital structure
• Focused capital spending plan
• Responsible capital allocation
• Remain shareholder focused
Designed to improve shareholder value
17
18. Maintain strong capital structure – Building Value
Balanced approach to capital allocation
Since LTM
1/1/04 1Q’07
As of ($ in millions)
Cash Provided by Operations $6,267 $1,644
Capital Spending $2,751 $708
Voluntary Pension & OPEB Funding $870 $140
Dividends Paid $301 $100
Increased 400% since 1/05*
$849 $124
Stock Repurchases**
14.6 1.2
Millions of shares repurchased
As of 4/1/08, 6.2 million shares remaining under current repurchase authorization
* Dividend increased to $0.25/quarter effective with 3/10/08 payment
** Repurchase program initially authorized 7/05 18
19. Maintain strong capital structure – Building Value
Key considerations Manageable legacy obligations – 2008
Pension:
Pension OPEB Total
As of 12/31/07 ($ in millions)
• Defined benefit
plan closed in 2003
$10,638 $4,089 $14,727
Benefit obligation
OPEB: $10,861 $1,166 $12,027
Plan assets
• Co-pays
($2,923) ($2,700)
$223
Funded status
• Inflation cap
Pension OPEB Total
2008 Forecast ($ in millions)
• Voluntary pension
& VEBA $60 $140 $200
Net Periodic Expense
contributions
$142 $426 $568
Cash Flow*
totaling $870 million
since 1/1/04
Pension OPEB
Key assumptions - 2008
7.94% 8.0%
Expected return on assets
5.67% 5.69%
Discount rate
* Excludes any voluntary contributions
19
20. Capital Spending – Building Value
U.S. Steel has spent less
2005 – 2007 Average CapEx per ton shipped
than global peers in
recent years
$130
$119
Will likely incur higher $120
capex during next few
$110
years concentrated on
$100
Capex per ton
infrastructure, but will
likely remain below the $90
global average.
$80
$70 $59
$60
$50
$40 $32
$30
$18
$20
$10
$0
Ternium
Nippon
Valin
Tenarus
MMK
Nucor
NLMK
Arcelor
Thysse
Wuhan
Gerdau
Average
Evraz
CSN
AKS
USS
SSAB
Tata-
Laiwu
Essar
JFE
Severst
Posco
Bao
Source: Accenture 20
21. Making Steel - World Competitive - Building Value
Investment considerations
• Strong business climate
• Improving industry and relatively low valuation
• Favorable North American environment
• Building value:
Maintain strong capital structure
Evaluate growth opportunities
Improving infrastructure and product mix
Responsible capital allocation
Remain shareholder focused
21