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FREE TRADE VS. PROTECTIONISM

Which Way for the US Steel Industry?

            

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EXHIBIT II
Purchasing Magazine Transaction Price For Hot-Rolled Sheet, Midwest Market Average
January 1980 – December 2003

            

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Source: American Iron and Steel Institute (AISI) press release, January 27, 2004.

EXHIBIT III
Falling U.S. Steel Imports since the late 1990s

            

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BANKRUPTCY FILING BY US STEEL COMPANIES (1997-2002)

            

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Company  Filing Employees  Status
1  Al Tech Specialty  31-Dec-97  790  Ceased operations.
2  Acme Metals  29-Sep-98  1,781  Acquired by ISG23
3  Laclede Steel Co.  30-Nov-98  1,475  Ceased operations.
4  Geneva Steel Co.  1-Feb-99  1,650  Ceased operations.
5  Worldclass Processing Inc.  24-Mar-99    Emerged from Bankruptcy
6  Qualitech Steel SBQ LLC  24-Mar-99  350  Acquired by SDI24
7  Gulf States Steel  1-Jul-99  1,900  Ceased Operations
8  J & L Structural  30-Jun-00  275  Operating
9  Vision Metals Inc.  13-Nov-00  610  Ceased Operations
10  Wheeling- Pittsburg Steel Corp.  16-Nov-00  4,800  Operating
11  Northwestern Steel & Wire  20 Dec, 2000  1,500  Ceased Operations
12  Erie Forge & Steel  22 Dec, 2000  300  Acquired by Park Corp.
13  LTV Corp.  29-Dec-00  18,000  Acquired by ISG
14  CSC Ltd.  12-Jan-01  1,225  Ceased Operations
15  Heartland Steel Inc.  24-Jan-01  175  Acquired by CSN of Brazil
16  GS Industries Inc.  7-Feb-01  1,750  Operating
17  American Iron Reduction  23-Feb-01  70  Ceased Operations
18  Trico Steel  23-Mar-01  320  Acquired by Nucor Corp.
19  Republic Technologies  2-Apr-01  4,600  Operating
20  Great Lakes Metals LLC  11-Apr-01  40  Ceased Operations
21  Freedom Forge Corp.  13-Jul-01  1,120  Operating
22  Precision Specialty Metals Inc.  16-Jul-01  200  Operating
23  Excaliber Holdings Corp.  18-Jul-01  800  Operating
24  Edegewater Steel Ltd.  6-Aug-01  140  Ceased Operations
25  Riverview Steel Corp.  7-Aug-01  60  Operating
26  Galv Pro  10-Aug-01  60  Acquired by SDI
27  Bethlehem Steel  15-Oct-01  13,000  Acquired by ISG
28  Metals USA  15-Nov-01  4,700  Operating
29  Sheffield Steel  7-Dec-01  610  Operating
30  Action Steel  28-Dec-01  140  Operating
31  Huntco Steel  4-Feb-02  553  Ceased Operations
32  National Steel  6-Mar-02  9,283  Acquired by US Steel
33  Calumet Steel  19-Mar-02  210  Ceased Operations
34  Birmingham Steel  3-Jun-02  1300  Acquired by Nucor Corp.
35  Cold Metal Products Inc.  16-Aug-02  494  Operating


Adapted from The American Steel Industry Current Trade Issues 2003, www.dbtrade.com/publications.
 

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[23]In March 2002, New York buyout firm W. L. Ross bought LTV Corp.'s integrated steel operations for approximately $325 million in cash and debt to form International Steel Group (ISG).

[24]Steel Dynamics Inc.

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