The world’s leading independent provider of market analysis and forecasts for theglobal metals and mining industry

www.metalbulletinresearch.com

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METAL BULLETIN RESEARCH

Your reference tool in negotiations with suppliers and customers

Metal Bulletin Research is the forecasting and analysis arm of Metal Bulletin andour services allow you to:

• Track supply and demand trends all over the world

• Make forward purchasing decisions

• Find out how much to buy, when to buy and what is the best price

• Put together business plans and accurate forecasts

• Make the right investment decisions

The Metal Bulletin Research portfolio includes:

• 10 Market Trackers: providing all the data, analysis and forecasting you need,on a regular basis, to make the right decisions for your business on themarkets that matter to you.

• 3 Quarterlies: Cost services for steel and iron ore and analysis of capacity andcapital expenditure in the global steelmaking market.

• Strategic Forecast Studies: Available for one-off purchase, these studies offerlong-term forecasts for all key areas of the metals and mining industry.

• Consultancy: When you need customised information solutions for yourprojects, or independent bankable market feasibility studies, Metal BulletinResearch provides all the global and regional insight you need to proceed withconfidence.

All our clients receive these two regular services:

• Metal Trends Index – A fortnightly report giving you analysis of stocks, pricesand business conditions for your commodity region.

• World Economics – An objective summary of the key economic trends that areshaping the world of metals.

www.metalbulletinresearch.com

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MARKET TRACKERS

Published weekly or monthly, our Market Trackers give you a global view of themarket you work in. Analysis, data and forecasting will allow you to anticipate aswell as react to the market with confidence.

A subscription to any of our Market Trackers gives you the leverage you needin negotiations with customers and suppliers, so you have even more convictionwhen buying or making strategic and investment decisions.

All trackers include online access that allows you to:

• Download the latest issue of your market tracker as soon as it’s published.Receive an email alert to let you know it’s ready, so you’ll never be waitingaround for your report.

• Manipulate data for your own purposes. You will be able to create your owncharts and tables for your presentations.

• Track previous analysis, pricing and forecasts with the fully searchablearchive.

• Receive breaking views – instant reactions to industry events, straight to yourinbox.

• ‘Ask the analyst’ – speak to our international team of analysts about thematters most important to you

See details of each tracker on pages 4-8.

Metal Bulletin Research Market Trackers

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STEEL: MARKET TRACKER

www.metalbulletinresearch.com/SMT £2305/€3285/$4475

• Price forecasts for slab, billet, plates, hot-rolled sheet/coil, cold-rolledsheet/coil, hot dipped galvanized, rebar and wire rod.

• Expert reaction to the latest steel industry events, from all over the globe.

• Analysis of the flat and long product market, regional and emerging marketfocus.

• A steel futures report, covering LME, SHFE and SSEC contracts.

• Two-year quarterly pricing and demand forecasts by region for key products.

Additional data

• Independent assessments of weekly and monthly global flat and long steelproduct prices by key market.

• A series of steel flat and long product pricing, supply-side and demand-sideindices and indicators, split by region.

• Comprehensive database of flat and long product, production, net exports andapparent consumption statistics for major steelmaking and consuming regions.

STEEL RAW MATERIALS: MARKET TRACKER

www.metalbulletinresearch.com/SRM £4195/€5990/$8145

• A clear and instant view of current raw materials price trends from MBR’s RawMaterials Index.

• The very latest weekly and monthly average global market quotations for keyscrap, iron ore, coking coal and iron metallics prices.

• Detailed analysis and insight into price trends, the key market players andtheir procurement strategies.

• Monthly market and price forecasts, as well as longer term quarterly forecastsfor the coming year in the key raw material markets.

Additional data

• Weekly historical raw material prices.

• Average monthly steel raw materials prices.

• Key iron ore, coke and coking coal trade data by country.

• International freight rates.

Ferrous Trackers: Weekly

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“This report is by far the mostthorough independent analysiscurrently available anywhere.”

Mr Kaul, Vice President, Essar Steel

“I would recommend Metal BulletinResearch as a unique provider of

steel and its raw materials market analysis and forecasts”

Michael Amez, Manager, A.T.Kearney, USA

SEAMLESS STEEL TUBE & PIPE: MARKET TRACKER

www.metalbulletinresearch.com/STP £1705/€2425/$3300

• Short and long term forecasts of regional price movements.

• Supply and demand analysis on key markets in Asia, Europe and NorthAmerica.

• Analysis of key developments in OCTG, linepipe, boiler pipe and mechanicaltubing markets.

• Data on trade flows and key end-user data for major consumers including theoil and gas and automotive sectors.

• Strategic analysis and insights into leading industry companies, includingsuppliers and distributors.

Additional data

• US, W.Europe, E. Europe, China, Japan seamless pipe prices by productback to Jan 2004, plus selected six-month price forecasts.

• Current and historical European seamless production data by major country.

• Comprehensive database of US seamless production.

• Asian seamless production by major country.

• Energy prices with extensive historical data.

WELDED STEEL TUBE & PIPE: MARKET TRACKER

www.metalbulletinresearch.com/WTP £1705/€2425/$3300

• Analysis of key developments in OCTG, linepipe, hollow sections andmechanical tubing markets.

• Data on trade flows and key end-user data for major consumers including theoil and gas, manufacturing and construction sectors.

• Intelligence on activity by distributors and suppliers.

• Strategic analysis and insights into leading industry companies from ourinternational team of tube and pipe specialists.

Additional data

• Welded tube and pipe prices with five-year history and one-year forecast.

• North American shipments of welded pipe by product with extensive historical data.

• North American apparent consumption of welded pipe with five-year history.

• Comprehensive archive of Asian welded tube production data by major country.

• European welded tube production and apparent consumption data by majorcountry.

Ferrous Trackers: Monthly

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“Metal Bulletin provides accurate and timely advice on the direction of the market and I recommend MBR’s Welded Steel Tube and Pipe very highly to mycolleagues’”

Shehzad Khan, Director (Executive) & Chief Financial Officer, DATA Steel Pipe Industries Pvt. Ltd

“A trusted and reliable businessintelligence provider in determiningmy global tube and pipebusiness strategy”.

John Bloomberg, Director, Tube andPipe Division, Duferco SA, Switzerland

FERRO-ALLOYS: MARKET TRACKER

www.metalbulletinresearch.com/FA £1620/€2310/$3145

• Analysis of ferro-alloys market prices, developments and crude steel forecasts.

• Global stainless steel and crude steel production data.

• Extensive price forecasts, supply-demand data by ferro-alloys and by region,downloadable into Excel.

• Market conditions for regional ferro-alloy markets.

• Analysis of the latest market indicators and trade trends for bulk andspeciality alloys.

Additional data

• Bulk and speciality ferro-alloys prices on a monthly basis with five-year historyand one-year forecasts.

• Five-year archive of global ferro-silicon, ferro-manganese, silico-manganese,ferro-chrome, molybdenum and nickel supply-demand with one-year forecasts.

• Current and historical monthly crude steel and stainless steel production databy country.

Ferrous Trackers: Monthly

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“I regularly use MBR’s Ferro-alloys MarketTracker’s pricing data and analysis as areference in our price negotiations and

strategy – I highly recommend this report”

Jose Roberto Ferreira da Silva, CorporatePurchasing, MAHLE Metal Leve S.A.

“MBR’s Stainless Steel Monthlyprovides valuable market intelligencesuch as production statistics, forecast

and pricing data. I would highlyrecommend this report”

Akira Nozaki, General Manager, Nickel Sales & Raw Materials Dept,

Sumitomo Metal Mining Co Ltd

STAINLESS STEELS: MARKET TRACKERwww.metalbulletinresearch.com/SS £1620/€2310/$3145

• Global analysis and outlook for stainless steel flat and long product transaction,base and surcharge pricing.

• Short and medium term forecasts for key market parameters – price,consumption, production and inventory.

• Regional supply and demand analysis, with tables of key production,consumption, inventory and trade statistics.

• Analysis of alloy surcharge highlights, focusing on individual regions and mills.

• Reactions and outlook for the alloy market with a series of graphs showing keymarket indicators.

Additional data

• One-year forecast and five years of historical prices for US, European and Asianstainless steel price, base and surcharge prices.

• Current prices, broken down by product and geographical regions.

• Alloy surcharges, listed by mill, with averages by region.

• Five years of historical data for stainless steel production, consumption,import/export and shipments.

• Five-year archive of stainless raw material prices and stainless scrap pricing.

“North American Steel Market Tracker’shistorical and forecast information,economic indicators and market analysisare invaluable tools for planning longrange purchases – I highly recommendthis report”

Gary W. Moss, Director of Purchasing, Madix Inc.

COATED STEELS: MARKET TRACKERwww.metalbulletinresearch.com/CS £1705/€2425/$3300

• Assessment of transaction prices in the major regions of Americas, Europe andAsia.

• Strategic analysis and insights into the latest market trends and developmentsof all key coated markets.

• 6-month forecasts of key price movements for all major regions, separated bycoated product.

Additional data

• Key regional statistics on production, shipment, trade and inventories from2007.

• Historical prices for HDG products from 1999, and price series from 2004 forELG, raw materials and tinplate products.

• Key end-user and economic indicators relating to investment, capacity andtrade issues.

Ferrous Trackers: Monthly

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“Coated Steels: Market Tracker is aquality product and an importantsource for our business intelligence”

Dave Smith, Strategic ProcurementManager, Coca Cola

NORTH AMERICAN STEEL MARKETS: MARKET TRACKERwww.metalbulletinresearch.com/NAS £1310/€1865/$2540

• Key trends in steel production, consumption, inventory and trade in the US,Canada and Mexico.

• US domestic and import price forecasts for the next year for both flat and longproducts.

• HR export price comparison table, with Japanese, Latin American andEuropean export prices.

• Coverage of steel products including HR coil, CR coil, HDG, plate, wire rod,sections, rebar, and merchant bars.

• Assessment of developments in the raw material markets, focusing on scrap,pig iron, DRI, and bulk alloys.

Additional data

• North American steel and steelmaking raw material prices with one-yearforecast and history from 2004.

• Extensive database of US carbon steel market summary data.

• 6-12 month HR coil export price comparison forecasts with five years of historical data.

• US shipments of steel product by industry with history from 2006.

• US apparent steel consumption by product with ten-year history.

Non-Ferrous Trackers: Weekly

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BASE METALS: MARKET TRACKER

www.metalbulletinresearch.com/BM £1620/€2310/$3145• Technical analysis and short-term trading strategies• Fundamental analysis - detailed statistics on production, stocks, trade and

consumption of the LME metals• Price-modelling and forecasting utilising high-low case scenario planning.• Analysis of speculative money flows and fund activity in the base metals

commodities, including ETFs.• Insights into leading industry companies.

Additional data

• Global supply-demand balances for all LME metals, with two-year forecast and ten years history. Regional data breakdown - China, North America, Europe and ROW.

• Daily spot and forward LME prices, stocks, spreads, LME open interest andcancelled warrants by metal.

• Reported stocks by metal on a quarterly basis and demand indicators.• Extended balances, LME open interest, Shanghai prices and Chinese trade data.

ALUMINIUM: MARKET TRACKER

www.metalbulletinresearch.com/AMT £1620/€2310/$3145• Market analysis and forecasts with two-year supply, demand and price forecast.• Analysis of regional production levels and consumption patterns.• Technical analysis of aluminium and aluminium alloy time series.• Coverage of alumina, secondary market, power, carbon products and fund

activity.• Regional price, production and margin analysis and forecasts of all key

aluminium extrusion products.

Additional data

• Extensive archive of global supply-demand balance data for primary aluminiumand alumina with two-year forecast.

• Global aluminium production and consumption by region, with two-yearforecast and history from 1998.

• 85 demand and market indicators and global alumina balance for China andrest of the world with LME stocks, Spot and forward LME prices and SHFEprices.

• Regional trends in apparent consumption, trade and production of aluminiumsemis, going back from 2005 with one-year forecast.

"Base Metals research service contains very insightful information

on copper and aluminum.”

Dale Gross, Strategic Buyer, Schindler NA

‘Aluminium and Raw Materials’comprehensive coverage of market

developments, pricing and forecasts helps us understand and

anticipate market dynamics’

Randy Murdoch, HUBER

STEELMAKING CAPACITY AND CAPITAL EXPENDITURE DATABASEwww.metalbulletinresearch.com/CAPEXPrice: £2045/€2435/$3175 Published: Quarterly Updated daily, and released as a quarterly product:• Analytical commentary and forecast by product, with capacity and capital

expenditure out to 2015, including coverage of iron ore, coking coal, crude steel by process, HR coil and CR coil.

• Statistical database for product capacity by producer/miner and by site.• Statistical database for product capital expenditure by investor,

location, capacity, $ (m) cost and start-up.

Quarterly forecasts and analysis

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For more information please call +44 (0) 20 7779 8000 or email marketing@metalbulletinresearch.com.

GLOBAL STEEL COST SERVICE (FLAT AND LONG PRODUCTS)www.metalbulletinresearch.com/Steel_CostPrice: £6640/€10100/$12510 Published: Quarterly • Complete Operating/Total Cost Curves for the steel industry as they evolve quarterly.• Production cost data and analysis, by region, company and at major plants.• Analysis of steel cost trends/forecasts.• Individual production stage costs for: pig iron, DRI, crude steel, billet, slab, HR

coil, CR coil, galvanised sheet, wire rod, bar and heavy sections.

GLOBAL IRON ORE COST SERVICEwww.metalbulletinresearch.com/Iron_Ore_CostPrice: £5570/€8310/$10895 Published: Quarterly • Complete Operating/Total Cost Curves for the iron ore industry as they

evolve quarterly.• Key trend analysis and tracking of iron ore costs.• Detailed regional analysis and tracking of export lump ore, export

sinter fines and export pellets costs to the Chinese market.• Analysis of benchmark prices for key iron ore products in comparison

with our estimates for average costs of production.

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QUARTERLY FORECASTS AND ANALYSISAll quarterly outlooks consist of a print report and CD-ROM*

Strategic Forecast Studies

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Metal Bulletin Research publishes a range of in-depth strategic forecast studies on all aspects of the metal industry, including many niche sectors.

Through MBR’s global network of analysts, economists, contributors and business partners, we’ll provide you with the most up-to-date andaccurate data and analysis. You’ll also receive detailed forecasts and justified recommendations to assist in your strategic decision making, allpublished in a print report.

STRATEGIC FORECAST STUDIES Price Publicationdate

FERROUS*COMING SOON – A Ten Year Strategic Outlook for the Coke Industry Study and Dynamic Model This package offering examines the current volatility in the market and will help plan strategy through the next 10years with forecasts for supply, demand, trade and prices on the global and Chinese coke industry. There is alsothe unique opportunity to own a fully interactive and dynamic forecast model.

£12,000$19,680€14,000

Feb 2012

*COMING SOON – A Ten Year Strategic Outlook for the Metallurgical Coal Industry Study and Dynamic ModelThis research study explores what the future trends are for prices and the strategic plans the major producers areset to adopt. The model allows you to model economic scenarios and run ‘what if’ scenarios.

£12,000$19,680€14,000

Feb 2012

*COMING SOON – Global Steel Raw Materials – Strategic OutlookThis is an in-depth strategic study on the global steel & raw materials industry providing a long term outlook.

£8,995$14,750€10,495

Dec 2011

NEW – The Five Year Outlook for the Global OCTG IndustryThis in-depth study examines the demand for OCTG by country, major product group and provides a forecast outto 2016.

£8,995$14,750€10,495

Nov 2011

A Ten Year Strategic Outlook for the Global Iron Ore Industry Study and Dynamic Demand, Supplyand Price Model for the Global Iron Ore IndustryThe unique dynamic demand, supply and price forecast model for the global iron ore industry will give you theopportunity to own a fully interactive and dynamic forecasting tool, allowing you to model economic scenariosand run ‘what if’ scenarios. This research includes a CD-ROM as well as the print report.

£12,995$20,775€14,950

March 2010

A Strategic Market Review and Outlook for the Middle East and North African Steel Industry to 2020A critical and timely business intelligence source from the preeminent global supplier of steel and raw materialresearch on the MENA region.

£4,995$7,985€5,745

March 2010

NON-FERROUSNEW – Aluminium 's Future Under A New Power Market Paradigm: Costs, Location & PricesThis study provides energy price forecasts, details of energy contracts at many of the world’s selected aluminiumsmelters and a view on the aluminium cost curve and forward curve.

£4,995$8,200€5,700

Nov 2011

NEW – The Future for China’s Aluminium Fluoride IndustryProvides detailed analysis on how China’s aluminium fluoride industry is structured and offers a detailedeconomic overview. An insight into the impact China has on the global industry is also included.

£4,995$8,200€5,705

Sep 2011

NEW – The Global Outlook for Aluminium in TransportationProvides analysis for the current market and demand forecasts out to 2020 for aluminium in the transportationsector across key end-use sectors and geographical regions.

£4,995$8,200€5,705

Aug 2011

NEW – Aluminium in MENA Outlook to 2020Provides detailed analysis of the aluminium markets across select end use sectors in 13 MENA countries.

£7,995$12,995€8,995

Aug 2011

The Ten Year Outlook for AluminaOffers full coverage of the metallurgical grade alumina market in all regions of the world. Which regions will bethe major suppliers of alumina over the next ten years.

£4,995$8,000€5,836

May 2011

A Five Year Outlook for China's Aluminium IndustryExamines the primary aluminium industry from a “first principles” perspective, looking at both demand andsupply to assess the influences on each, and the likely outcomes for both.

£4,995$8,000€5,836

Apr 2011

MINERALSGlobal Lithium Market Outlook: Projects and Strategies to 2020 for a new era of demandThis study reflects on the developments of the lithium industry and considers the likely outcome over the nextten years.

£3,995$6,220€4,780

Mar 2011

For more information please call +44 (0) 20 7779 8000 or email marketing@metalbulletinresearch.com. *Subject to change

CONSULTANCY SERVICES

Tailored research and consultancy on the metals andmining sector

Metal Bulletin Research’s consulting team includes engineers, economists, andindustry professionals to offer leading market-related consultancy services to globalclients in the metals and mining industry.

Our business model offers real value for money and is geared to establishing long-term and fruitful client partnerships without compromising on quality, reliability orintegrity.

Bespoke consultancy and specialist services include:

• Pre-feasibility studies and project evaluation, including bankable documentation

• Independent strategic evaluation and company risk analysis

• Commodity market price and forecasting services

• New market/product entry optimisation strategies

• Price risk management solutions

• Purchasing and optimum cost-saving solutions

• Fast-track access to all Metal Bulletin Research databases and proprietaryinformation/forecasting methodologies

To receive a comprehensive proposal and competitive quote for any research orconsultancy job, at no obligation, and irrespective of the size of the project, pleaseemail Brian Levich at blevich@metalbulletinresearch.com or call +44 (0) 20 7556 6020.

Consultancy Services

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Market Trackers Quarterly Services Strategic Forecast Studies Consultancy

Or state the publications you’re interested in:

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Get in touch: Call: +44 (0) 20 7779 8000 or +61 3 5221 0715 (Asia)

Email: marketing@metalbulletinresearch.com Online: www.metalbulletinresearch.com

Mail: Metal Bulletin Research, Nestor House, Playhouse Yard London EC4V 5EX UK

INDEPENDENT, RELIABLE AND CUSTOMISED SOLUTIONSWe offer excellent corporate rates when you purchase a number of products, or when you and a number of your colleagues use our services too.Furthermore, we’ll work hard to create a tailor-made programme that moves your business forward.

Have your say…

Our customers are very important to us. If there’s a price, forecast or region that you’d like to see us cover more, we’d love to hear from you. Our analysts will try and include it in their next report. Or give you a call to give you their personal insight.

Check out the website for more information or to take a free trial.

www.metalbulletinresearch.com