Analyst Meet Third Quarter – 2005-06. Contents Operations Financials Outlook Industry Company

Analyst MeetThird Quarter 2005-06

ContentsOperationsFinancialsOutlookIndustryCompany

Operations highlights Volume growth of 5.5% in crude steel and 18% in galvanised products

Converter life crosses 9500 heats

Blast furnace production 72,000 MT in Dec-05

Average Coke price $ 180 / ton vs $ 250 / ton in the previous quarter

Operations highlights contd./..Significant reduction in fuel rate consumption as compared to the previous quarter

Channel financing facility for dealers

Operations Production Q3 (In mln. tons)

Chart6

0.9480.9610.942

0.5390.570.553

0.5060.5330.549

0.1750.2060.203

Q3, 05

Q3, 06 Current quarter

Q2, 06

Sheet5

Results Q3

Q3, 06Q3, 05Q2, 06

Goss sales164318211688

Net sales151817151540

EBIDTA438591393

EBIDTA Margin29%34%26%

Interest9011699

Depreciation118105126

Profit before tax231369168

Profir after tax139225106

EPS:

- Basic9177

- Diluted8156

Upto Dec. 05Upto Dec, 04

Goss sales50314744

Net sales45974497

EBIDTA13381493

EBIDTA Margin29%33%

Interest279362

Depreciation351315



EPS:

- Basic2934

- Diluted2731

pdtn 9 mth vol

ProductionUpto Dec, 04Upto Dec, 05

Pellets2.6252.811

Crude steel1.3171.655

HR Coils / sheets1.2411.594

GP / GC0.5040.569

SalesUpto Dec, 04Upto Dec, 05

Pellets0.5760.382


GP / GC0.4970.541

pdtn 9 mth vol

00

00

00

Upto Dec, 04

Upto Dec, 05

cost curve

00

00

00

00

Upto Dec, 04

Upto Dec, 05

Sheet2

RankCountry (source WSD June 2005 report)Average operating cost($/ton)

1Russia250

2Brazil266

3India266

4China335

5USA343

6Taiwan353

7South Korea362

8E. Europe363

9Canada365

10Australia375

11Japan378

12USA388

13Europe445

Sheet2

0

0

0

0

0

0

0

0

0

0

0

0

0

Average operating cost($/ton)

Sheet4

Sheet1

MEPS - ASIAND class=main12 vAlign=top align=left width=912>

MEPS - ASIAN CARBON STEEL PRODUCT PRICE INDEX - WITH INDIVIDUAL PRODUCT FORECASTS

(Based on US$ values)

JAN 1997 = 100

All tables and forecasts are updated monthly.

DateHot Rolled CoilHot Rolled PlateCold Rolled CoilHD Galv. Coil*Wire Rod (mesh)Structural Sections & BeamsReinforcing Bar

Nov-03102.496.795.288.889.392.797.4

Dec102.496.795.489.789.393.598.7

Jan-04104.8102.596.794.694.5101.2104.3

Feb111.8104.9101.198.6109.8111.6120.5

Mar128.7119.3108.9104.4121.7118.4135.3

Apr136.6127115110.5124.8124138

May137.8128.6112110.7120.5121.1134.3

Jun134.1127.2111.1110.7119.3119.1128.1

Jul139.9130.2114.8111.6119.3118.2130

Aug138.4128.6113.5110118116.7128.7

Sep149.8137.3120.3115.2122.6118.6133.3

Oct151.1138.1123.5115.8124.2119.6140.3

Nov155.9144.7130.7123.1126.3122.8143.2

Dec161.9149.9135.7128.5127.8125.7146.5

Jan-05167.1153.7143.4129.4126.3127.4142.9

Feb167.4155149.5133.3130.3126.6146.9

Mar174.6162.9155.3139.2136.7128.1150.8

Apr174162.7154.2134.7132.4127.1146.9

May175.5164.9155.6138133127.8146.5

Jun162.2156.9144.9130.8127.5124.5133.3

Jul148149136.8121.9121.7117.4127.7

Aug150.2151.2138.8123.8123.9119.1129.7

Sep144.4146.6133.6121.9123.5120.8134

Oct135.3141.7125.7116.8119.9118.6135

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Dec

Jan-06

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

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* - China not included.

Note:- Prices are derived from an arithmetic average of the low transaction values identified in Japan, Taiwan, South Korea and China - collected in national currencies and converted into US dollars using currency exchange rates effective at the start of

Steel prices are also available for Japan, Taiwan, South Korea and China in MEPS

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pdtnQ3 vol

DateHot Rolled CoilHot Rolled PlateCold Rolled CoilHD Galv. CoilElectro Zinc=53>HD Galv. CoilElectro Zinc CoilWire Rod (mesh)Structural Sections & BeamsRebarMerchant Bar

Nov-03343361427490475315390318342

Dec354367434502488323403327353

Jan-04386400474546524348443355391

Feb414432501573547396482404422

Mar474506563650631479544503511

Apr513540596682654498585517543

May549575614706681498594511547

Jun571602649739715492591496541

Jul585633665754736483584474535

Aug580627659747728478578470530

Sep640704709796768494616511546

Oct644717723799779500633508547

Nov653734735824808511651510562

Dec648750737830823512667510566

Jan-05650756746824828494651493539

Feb635740739809815489634486528

Mar638753750818834487632478529

Apr619744725788814474615468517

May598729706766811472606464513

Jun545696649720769433566426487

Jul493655599674727422536420469

Aug503668611687738428547428479

Sep518680621705728474608483531

Oct517676615698709472614484535




Dec

Jan-06

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Note:- Prices are an arithmetic average of the low transaction values identified in three regions (EU, Asia, and North America), converted into US dollars.

Steel transaction prices are also available for USA, Canada, China, Japan, South Korea Taiwan, Germany, France, Italy, UK, Spain, Czech Rep, and Poland in MEPS



The information in the tables, charts and commentaries have been calculated from respondents who we consider provide accurate intelligence on the relevant steel markets. We make our best endeavours to be assured that the information is correct and that ou








Demand

ProductionQ3, 05Q3, 06 Current quarterQ2, 06

Pellets0.9480.9610.942

Crude steel0.5390.5700.553

HR Coils / sheets0.5060.5330.549

GP / GC0.1750.2060.203

SalesQ3, 05Q3, 06 Current quarterQ2, 06

Pellets0.1920.1210.149


GP / GC0.1650.2040.207

Demand

000

000

000

000

Q3, 05


Q2, 06

price & production

IISI apparent steel demand forecast

20052006200420052006

Africa2021World9719981050

Middle East2931Asia Pacific502534570

Cntral and South america3336534570

CIS4548

NAFTA145149

Europe190198

Asia Pacific534570

World998965

price & production

00

00

00

00

00

00

00

00

2005

2006

00

00

00

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World

Asia Pacific

MarchAprilMayJuneJulyAugustSeptemberOctoberNovember

200520052005200520052005200520052005

European Union (25)16.416.016.215.514.413.215.016.415.9

Other Europe2.42.42.42.42.32.52.52.52.4

C.I.S.9.79.49.68.18.49.38.89.19.6

North America11.010.811.110.010.210.510.510.710.3

South America3.93.93.93.63.73.83.63.83.8

Africa1.51.51.61.61.61.51.51.51.4

Middle East1.21.21.31.21.21.21.21.21.3

Asia/Oceania (ex. China)19.218.719.618.719.319.018.619.718.9

Total Above65.364.065.761.261.161.061.864.963.6

China27.528.129.728.529.230.530.431.730.5

MonthMarch, 05April, 05May, 05June, 05July, 05August, 05September, 05October, 05November, 05

Total 61 countries92.992.195.489.790.391.492.196.694.1

China27.528.129.728.529.230.530.431.730.5


Total 61 countries92.992.195.489.790.391.492.196.694.1

Prices638619598545493503518517

MonthMar, 05Apr, 05May, 05Jun, 05Jul, 05Aug, 05Sep, 05Oct, 05Nov, 05

Prices(World)638619598545493503518517

Prices(India)812839824782736679682675678

Jan-05167.1

Feb167.4

Mar174.6

Apr174

May175.5

Jun162.2

Jul148

Aug150.2

Sep144.4

Oct135.3

92.8587

92.0679

95.3911

89.7308

90.3196

91.434

92.1211

96.6068

94.1116

Total 61 countries

0

0

0

0

0

0

0

0

0

Prices(World)

92.858727.5439

92.067928.0858

95.391129.7296

89.730828.5474

90.319629.2438

91.43430.4563

92.121130.3571

96.606831.6729

94.111630.4776

&A

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Total 61 countries

China

92.8587638

92.0679619

95.3911598

89.7308545

90.3196493

91.434503

92.1211518

96.6068517

94.1116November, 05

&A

Page &P

Total 61 countries

Prices

167.1

167.4

174.6

174

175.5

162.2

148

150.2

144.4

135.3

00

00

00

00

00

00

00

00

00

&A

Page &P

Prices(World)

Prices(India)

MBD0004CD6F.xls

Chart2

8.27214.33216.26625.095

7.39213.23815.10624.806

8.12114.3416.40427.544

7.95214.12115.96728.086

8.08214.26216.17629.73

7.2513.72215.45128.547

7.55712.75614.40629.244

7.7411.57713.16430.456

7.7913.27414.98430.357

8.00414.5116.40431.673

7.713.8515.89330.479

USA

EU-15

EU-25

CHINA

COUNTRYWISE CRUDE STEEL PROD. (MnT)

CHINA CRUDE STEEL PROD. (MnT)

WORLD STEEL PROD. TREND (2)

USAEU-15EU-25CHINAWORLD

JAN-05$8$14$16$25$90

FEB-05$7$13$15$25$84

MAR-05$8$14$16$28$93

APR-05$8$14$16$28$92

MAY-05$8$14$16$30$95

JUN-05$7$14$15$29$90

JUL-05$8$13$14$29$90

AUG-05$8$12$13$30$91

SEPT-05$8$13$15$30$92

OCT-05$8$15$16$32$97

NOV-05$8$14$16$30$94


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0

0

0

0

0

0

0

0

0

0

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WORLD

GLOBAL CRUDE STEEL PROD. (MnT)



JAN-05$8$14$16$25$90

FEB-05$7$13$15$25$84

MAR-05$8$14$16$28$93

APR-05$8$14$16$28$92

MAY-05$8$14$16$30$95

JUN-05$7$14$15$29$90

JUL-05$8$13$14$29$90

AUG-05$8$12$13$30$91

SEPT-05$8$13$15$30$92

OCT-05$8$15$16$32$97

NOV-05$8$14$16$30$94


0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

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USA

EU-15

EU-25

CHINA


WORLD CRUDE STEEL PROD. (MnT)

USA_DOM. SHIPMENTS

US SHIPMENTS

JAN-OCT, 2005 v/s 2004

SEGMENT%-VAR

AUTO2.5%

CONSTRUCTION3.3%

OIL & GAS7.4%

STOCKISTS-7.5%

IND. EQUIP.-3.0%

WHITE-GOODS-3.7%

CAN / CONTAINERS-15.5%

ELECT. EQUIP.-5.5%

TOTAL-9.2%

USA_DOM. SHIPMENTS

0

0

0

0

0

0

0

0

0

%-VAR

%-VAR._JAN-OCT, 2005 SHIPMENTS (Y-O-Y)

India_GDP

2004-05Q-1, 2005-06Q-2, 2005-06

AGRICULTURE1.12.02.0

INDUSTRY7.79.77.5

SERVICE8.99.810.1

TOTAL6.98.18.0

India_GDP

0000

0000

0000

AGRICULTURE

INDUSTRY

SERVICE

TOTAL

%-VARIANCE

CIS EXPORT PRICES

CIS : EXPORT PRICES FOR SHIPMENT AS OF 28TH NOV-05

(Price in USD / mt)

PRODUCTSIZE (MM)UKRAINE_FOB BLACK SEARUSSIA_FOB BLACK SEARUSSIA_FOB FAR EAST

HRC2 - 8335-350365-370330-350

REBAR12 - 25350-365350-365340-345

WIRE-ROD6.5 - 8350-360350-360330-350

BILLET100 - 150290-300300-310315-320

world_capacity_proj.

GLOBAL : SURPLUS CAPACITY

(Qty's in Mt)

20052004200520042004200520042005 (E)%-VAR.2010 (P)%-CAGR_2005 v/s 2010

DEMANDN.A.N.A.0.050.12971N.A.N.A.9982.8%12073.9%

PRODUCTION2.852.350.960.091057-1053.190.0011256.4%13603.9%

CAPACITY7.085.480.230.101184-1176.680.0012505.6%16005.1%

SURPLUS CAPACITY1.671.410.560.38127-124.770.00125-1.6%24013.9%

&L&F&CPage &P of &N&R&A

china_Oct-05 (2)

CHINA

(Qty's in mt)

OCTOBERJANUARY - OCTOBER

OUTPUTIMPEXPAPP. CONSUMP.NET IMPORTEXPNET IMPORT

20052004200520042005200420052004200520042005200420052004

SEMISN.A.N.A.0.050.120.160.69N.A.N.A.0.110.576.143.52-5.010.20

M / H PLATES2.852.350.960.090.270.243.552.20-0.690.153.391.43-2.181.99

HR_STRIPS7.085.480.230.100.060.167.265.42-0.180.061.341.041.261.74

CR1.671.410.560.380.030.062.211.73-0.54-0.320.460.385.545.64

GP0.600.500.320.270.030.070.890.69-0.29-0.190.630.332.713.38

CC0.120.110.030.030.010.010.150.13-0.03-0.020.070.040.260.39

ELECT. STEEL0.240.150.080.120.010.010.310.27-0.07-0.120.080.070.961.33

STEEL PRODUCTS33.1026.771.931.631.341.5133.6926.89-0.59-0.1217.1510.144.7915.42

TOTAL STEEL / SEMISN.A.N.A.1.981.751.502.20N.A.N.A.-0.480.4523.2913.66-0.2215.62

COKE20.3316.860.000.000.821.6819.5115.190.8207641.67717710.6112.05-10.61-12.05

IRON ORE38.2728.2222.2716.330.000.0060.5544.55-22.274-16.3318010.000.00221.21167.40


china_Jan-Oct, 2005 (2)

CHINA

PERIOD : JAN-OCT(Qty's in mt)

OUTPUTIMPEXPAPP. CONSUMP.NET IMPORT

2005200420052004200520042005200420052004

SEMISN.A.N.A.1.133.726.143.52N.A.N.A.-5.010.20

M / H PLATES25.8221.581.213.423.391.4323.6423.57-2.181.99

HR_STRIPS65.2646.502.602.781.341.0466.5248.241.261.74

CR16.2612.536.006.020.460.3821.8118.175.545.64

GP4.453.403.343.710.630.337.166.782.713.38

CC1.360.900.330.430.070.041.621.290.260.39

ELECT. STEEL1.981.361.041.400.080.072.942.680.961.33

STEEL PRODUCTS301.92240.2821.9325.5617.1510.14306.70255.694.7915.42

TOTAL STEEL / SEMISN.A.N.A.23.0629.2823.2913.66N.A.N.A.-0.2215.62

COKE188.76148.710.000.0010.6112.05178.15136.66-10.61-12.05

IRON ORE318.96243.89221.21167.400.000.00540.16411.29221.21167.40


china_Oct-05

CHINA

(Qty's in mt)

OCTOBER(Qty's in mt)JANUARY - OCTOBER

OUTPUTIMPEXPAPP. CONSUMP.NET IMPORTOUTPUTAPP. CONSUMP.

20052004200520042005200420052004200520042005200420052004

SEMISN.A.N.A.0.050.120.160.69N.A.N.A.0.110.57N.A.N.A.N.A.N.A.

M / H PLATES2.852.350.960.090.270.243.552.20-0.690.1525.8221.5823.6423.57

HR_STRIPS7.085.480.230.100.060.167.265.42-0.180.0665.2646.5066.5248.24

CR1.671.410.560.380.030.062.211.73-0.54-0.3216.2612.5321.8118.17

GP0.600.500.320.270.030.070.890.69-0.29-0.194.453.407.166.78

CC0.120.110.030.030.010.010.150.13-0.03-0.021.360.901.621.29

ELECT. STEEL0.240.150.080.120.010.010.310.27-0.07-0.121.981.362.942.68

STEEL PRODUCTS33.1026.771.931.631.341.5133.6926.89-0.59-0.12301.92240.28306.70255.69

TOTAL STEEL / SEMISN.A.N.A.1.981.751.502.20N.A.N.A.-0.480.45N.A.N.A.N.A.N.A.

COKE20.3316.860.000.000.821.6819.5115.190.8207641.677177188.76148.71178.15136.66

IRON ORE38.2728.2222.2716.330.000.0060.5544.55-22.274-16.331801318.96243.89540.16411.29


china_Jan-Oct, 2005

CHINA

PERIOD : JAN-OCT(Qty's in mt)(Qty's in mt)


2005200420052004200520042005200420052004

SEMISN.A.N.A.1.133.726.143.52N.A.N.A.-5.010.20

M / H PLATES25.8221.581.213.423.391.4323.6423.57-2.181.99

HR_STRIPS65.2646.502.602.781.341.0466.5248.241.261.74

CR16.2612.536.006.020.460.3821.8118.175.545.64

GP4.453.403.343.710.630.337.166.782.713.38

CC1.360.900.330.430.070.041.621.290.260.39

ELECT. STEEL1.981.361.041.400.080.072.942.680.961.33

STEEL PRODUCTS301.92240.2821.9325.5617.1510.14306.70255.694.7915.42


COKE188.76148.710.000.0010.6112.05178.15136.66-10.61-12.05

IRON ORE318.96243.89221.21167.400.000.00540.16411.29221.21167.40


iNDIA_Auto

PRODUCTION

PERIOD : JAN - NOV

CATEGORY

20042005%-VAR.

PASSENGER VEHICLES785$840$(55)7%

MED. / HVY. COMML. VEHICLES$130$108$22-17%

LIGHT COMML. VEHICLES$84$139$(55)65%

TOTAL AUTOMOBILE (4-WH.)$999$1,087$(88)9%

2 & 3 - WHEELERS$4,478$5,266$(788)18%

$5,477$6,35316%

iNDIA_Auto

000

000

000

000

000

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2004

2005

%-VAR.

PRODUCTION ('000 UNITS)

%-VARIANCE

us_IMP._COATED

INDIA-US

20002001200220032004JAN-SEPT, 2004JAN-SEPT, 2005

TOTAL186154206157277251228

INDIA243116545126

%-SAHRE1%3%15%10%20%20%12%

us_IMP._COATED

000

000

000

000

000

000

000

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TOTAL

INDIA

%-SAHRE

US_COATED STEEL_AVG. MTHLY IMPORTS ('000 mt)

%-SHARE OF COATED STEEL IMPORTS FROM INDIA

India-Exp-US_Jan-Oct-05

Indian exports to US ---- Qty. in Metric Tonnes (2005)

5-Jan5-Feb5-Mar5-Apr5-May5-Jun5-Jul5-Aug5-Sep5-OctTotal 2005

1Semis20.4818.129.516.449.5612.44089.122.770.91239.28

2Plates in Coils..........0

3Sheets Hot Rolled88.4123405.64,034946.4432.1....6,030

4CR1,6091,5466467785918357781,2357041,91010,632

5Sheets & Strip Galv Hot Dipped26,18327,20042,16247,66730,75223,9392,02427,3169,23028,294264,767

6Sheets & Strip All Other Metalic Coat..246.9......295.2542

7Electrical SteelNot Available

8Bars-Hot rolled681.1369.2281.9471.9336.5220.7349.7322.9211.15493,794

9Bars-Cold Finished1,1231,2511,4501,2601,7609261,2451,1241,2011,03912,379

10Total Bars1,8041,6201,7321,7322,0971,1471,5951,4471,4121,58816,173

11Bars-Reinforcing42.8........4386

12Wire Rods.52.134.933.518.334.817.5...191

13Standard Pipe6,5092,5312,3022,588827.22,2881,1262,1031,0943,91225,280

All Products44,17940,21655,10361,04443,04573,0609,89836,45039,49943,170445,664

Coated_Jan-Oct, 20041109801193381921801921802195062331163160813454013697653541133262302,778,890

All Products

Sheets & Strip Galv Hot Dipped

Standard Pipe

Bars-Cold Finished

Sheets Hot Rolled

Bars-Hot rolled

Wire Rods

Plates in Coils

Bars-Reinforcing

Sheets & Strip All Other Metalic Coat

US_Imp_NOV, 2005

US DATA

Y-O-Y

NOV-04NOV-05 (P)% Var

1Semis686421-39%

2Plates204135-34%

3HR439211-52%

4CR297160-46%

5HDG299180-40%

6Electrical Steel106-44%

7Hot Rolled Bars121105-13%

8Rebars1531594%

9Wire-Rods203109-46%

10Total Steel31152145-31.1%

-970

-31%

US_Imp_NOV, 2005

00

00

00

00

00

00

00

00

00

NOV-04

NOV-05 (P)

US_Imp_Jan-Nov, 2005

US DATA

Y-O-Y

JAN-NOV, 2004JAN-NOV, 2005% Var

1Semis62275564-11%

2Plates172117653%

3HR36752632-28%

4CR21901719-22%

5HDG23941889-21%



8Rebars17001188-30%

9Wire-Rods31522116-33%

10Total Steel2983226439-11.4%

-3393

-11%

0-970

0-0


00

00

00

00

00

00

00

00

00

JAN-NOV, 2004

JAN-NOV, 2005

US_Imp_Jan-OCT, 2005_W.S.

US DATA

Y-O-Y

Jan-Oct-04Jan-Oct-05% Var

1Semis55415142-7%

2Plates151616297%

3HR32352421-25%

4CR18921559-18%

5HDG20951708-18%

6Electrical Steel63641%


8Rebars15471029-33%

9Wire-Rods29492007-32%

10Total Steel2671624294-9%

0-970

0-0

USD-INR_Sept_Oct, 2005

1st Sept-0510th Oct-05VARIANCE%-VARIANCE

USD ~ INR44.1344.630.51.1%

EU ~ USD1.23361.2111-0.02-1.8%

USD ~ YEN110.71113.813.12.8%


0

0

0

Sheet7

INDICATIVE HOME PRICE : FOB_MILL (USD / mt)

PRODUCTUSEUCHINAINDIA

HR550385-505384470-505

CR680560-645604636

GP770580-645609659

Sheet6 (2)

DOMESTIC : HR - MATERIAL BALANCE ESTIMATE & PROJECTION

PRODUCERS2005-06_EXPECTED2006-07_PROJECTED

CAPACITYHR-DOM.CAPTIVEDOMESTICIMPORTSTOTALBALANCECAPACITYHR-DOM.CAPTIVEDOMESTICIMPORTSTOTALBALANCE

SAIL5500370015005200N.A.52003005500370015005200N.A.5200300

TATA310089019202810N.A.28102903200100020003000N.A.3000200

ESSAR300014702301700N.A.170013004100180015003300N.A.3300800

JSW220010002001200N.A.120010003000150010002500N.A.2500500

ISPAT25001740601800N.A.1800700360015005002000N.A.20001600

TOTAL16300880039101271012001391035901940095006500160001200172003400

2004-051407077753349111248001192421461630088003910127101200139103590

%-VAR.16%13%17%14%50%17%67%19%8%66%26%0%24%-5%

Sheet6



CAPACITYHR-DOM.CAPTIVEIMPORTSTOTALBALANCECAPACITYHR-DOM.CAPTIVEIMPORTSTOTALBALANCE

SAIL550037001500N.A.5200300550037001500N.A.5200300

TATA31008901920N.A.2810290320010002000N.A.3000200

ESSAR30001470230N.A.17001300410018001500N.A.3300800

JSW22001000200N.A.12001000300015001000N.A.2500500

ISPAT2500174060N.A.180070036001500500N.A.20001600

TOTAL1630088003910120013910359019400950065001200172003400

Y-O-Y140707775334980011924214616300880039101200139103590

%-VAR.16%13%17%50%17%67%19%8%66%0%24%-5%

CHINA VS INDIA_PRICE_MKT PRICE

LOCAL MARKET PRICES (INCL. E.D. / VAT)0

PRODUCTCHINAlesslessINDIADIFF.

YUAN / mtUSD / mtINR / mtUSD / mtUSD / mt

IRON ORE_Fe-63%75092100650575105624-68

BILLET29803671002880239022500511144

SLAB300037010029002406N.A.N.A.N.A.

HR_3.0mm CTL38504751003750311227300620146

CR_0.6mm6000740100590048963475079050

HDG_0.4mm6150758100605050203550080748

Sheet2

SEPT-05 .. PRODUCTION / SHIPMENTSSEPT-05 .. BOOKINGS

USEUROPEMIDDLE EASTCHINAUSEUROPEMIDDLE EASTCHINA

0.3mm0.6mm0.7mm0.21-0.29mm0.3mm0.6mm0.7mm0.21-0.29mm

120-GSM275-GSM225-GSM120-GSM120-GSM275-GSM225-GSM120-GSM

CNF610573630620790620660670

OCEAN FREIGHT6050252760502527

FOB550523605593730570635643

USD ~ INR43.543.543.543.543.543.543.543.5

2392522768263182579631755247952762327971

DEPB95791110531032127099211051119

2488223679273702682733025257872872729089

LOCAL FRT500500500500500500500500

NET REALISATION2438223179268702632732525252872822728589

IND. PRICE2160021600216002160021600216002160021600

SPREAD278215795270472710925368766276989

=

DOMESTIC PRICE_0.4mm30750270002675032250

INDIA_PRICE_IMPORT PARITY

PRODUCTLOCAL MARKET PRICEIMP. PARITYIMP. OFFERS

INR / mtUSD / mtUSD / mtUSD / mt

HR_SHEET GUAGE26500602472420-460

HR_PLATE GUAGE27200618485420-460

CRCA_0.6mm34750790619N.A.

HDG_0.4mm35500807633N.A.

China_Import Equv. Price

PRODUCTLOCAL MARKET PRICE (INCL. VAT)lesslessIMP. EQUV. PRICEEXP. EQUV. PRICEREBATEEXP. EQUV. PRICE

YUAN / mtUSD / mtCFR_USD / mtUSD / mtFOB_USD / mt

IRON ORE_Fe-63%6908510059052264750N.A.

BILLET2980367100288023902953140314

SLAB3000370100290024062973160316

HR_3.0mm CTL38504751003750311238440645361

CR_0.7mm60007401005900489660463270563

HDG_0.5mm60507461005950493760963870567

China_Iron Ore Imports_H-1' (2)

Jan-Jul .. 7-Months .. %-SHARE

2004200420052005

AUSTRALIA40.523561.4640

INDIA29.942637.0424

BRAZIL24.652129.6119

S. AFRICA7.0566.474

TOTAL_IMPORTS115.93100152.82100


00

00

00

00

00

2005

2005

2004

2004

IRON ORE_IMPORT_QTY (Mt)

China_Iron Ore Imports_H-1'05

Jan-Jul .. 7-Months

20042005

AUSTRALIA40.5261.4661.46

INDIA29.9437.0437.04

BRAZIL24.6529.6129.61

S. AFRICA7.056.476.47

TOTAL_IMPORTS115.93152.82152.82


00

00

00

00

00

2004

2005


china_sept. 2005

CHINA

PERIOD : SEPT(Qty's in mt)

OUTPUTIMPEXPAPP. CONSUMP.NET EXPORT

2005200420052004200520042005200420052004

SEMISN.A.N.A.0.1140.0940.1380.639N.A.N.A.0.0240.545

M / H PLATES2.712.200.280.150.310.272.692.080.0220.12

HR_STRIPS6.645.310.370.150.130.146.895.32-0.245-0.01

CR1.781.390.720.400.040.042.461.75-0.68-0.36

GP0.500.320.370.300.040.050.830.57-0.33-0.25

CC0.160.090.040.030.010.010.190.12-0.033-0.027

STEEL PRODUCTS30.3524.822.501.781.361.3131.4925.29-1.14-0.47


COKE18.8116.170.000.000.752.1018.0714.070.7452.1

IRON ORE34.3127.5423.0218.720.000.0057.3346.26-23.02-18.72


china_jan-sept. 2005

CHINA

PERIOD : JAN-SEPT(Qty's in mt)


2005200420052004200520042005200420052004

SEMISN.A.N.A.1.083.605.992.83N.A.N.A.4.91-0.77

M / H PLATES22.9819.231.654.674.051.4620.5822.442.4-3.21

HR_STRIPS58.2541.032.372.681.280.8859.3442.83-1.09-1.8

CR14.5611.125.445.640.440.3219.5616.44-5-5.32

GP3.852.903.023.440.600.266.276.08-2.42-3.18

CC1.240.800.300.400.060.031.481.17-0.24-0.37

STEEL PRODUCTS255.28200.4019.9923.9315.808.63259.47215.70-4.19-15.3

TOTAL STEEL / SEMISN.A.N.A.21.0727.5321.7911.46N.A.N.A.0.72-16.07

COKE167.80131.860.000.009.7910.37158.01121.499.7910.37

IRON ORE279.65215.78198.93151.070.000.00478.58366.85-198.93-151.07


Sheet4

Sheet3

JAN-05FEB-05MAR-05APR-05MAY-05JUN-05JUL-05AUG-05

2.0mm_COIL2725027500275002900029000265002400022500

5-10mm_CTL3250032900341003550035500320002850026500

Sheet3

000

000

000

000

000

000

000

000

2.0mm_COIL

5-10mm_CTL

Rs. / mt

DOMESTIC PRICE TREND

US-Import

PRODUCTMONTHLYJAN - JUN

20052004Y-O-Y20052004Y-O-Y

SEMIS448640-30%3161.43087.32%

TOTAL STEEL23273045.8-24%15120.2114128.787%

HR207375-45%1547.81530.31%

CR127231-45%1022.0587317%

HDG161253-36%1140.194621%

China-Import & Exports

PRODUCTEXPORT (MnT)IMPORT (MnT)NET IMPORT (MnT)

20052004Y-O-Y20052004Y-O-Y20052004Y-O-Y

SEMIS4.71.3262%0.80.4100%-3.9-0.9333%

STEEL PRODUCTS11.64.6152%13.218.1-27%1.613.5-88%

TOTAL STEEL16.35.9176%1418.5-24%-2.312.6-118%

FLAT STEEL5.31.4279%11.515.6-26%6.214.2-56%

AUTO_DOM.

CATEGORYPRODUCTION

20052004VARIANCE

NO'S%

PASSENGER VEHICLES$515,446$473,349$42,0979%

MED. / HVY. COMML. VEHICLES$81,855$78,735$3,1204%

LIGHT COMML. VEHICLES$62,511$50,615$11,89624%

TOTAL COMML. VEHICLES$144,366$129,350$15,01612%

TOTAL AUTO VEHICLES$659,812$602,699$57,1139%

2 & 3 - WHEELERS$3,023,338$2,611,667$411,67116%

GRAND TOTAL$3,683,150$3,214,366$468,78415%

IISI_CRUDE STEEL-1

COUNTRYJUN-05JUN-04%-VAR.JAN-JUN

20052004%-VAR.

ASIA46.63919%273233.617%

%-SHARE52%46%50%46%

BRIC38.532.319%230.7192.120%

%-SHARE43%38%42%38%

EU-2515.516.6-7%96.598.2-2%

%-SHARE17%19%18%19%

NAFTA9.910.9-9%63.664.7-2%

%-SHARE11%13%12%13%

CHINA28.521.533%164.9128.528%

%-SHARE32%25%30%25%

WORLD89.785.35%546.3507.98%

WORLD (-) CHINA61.263.8-4%381.4379.41%

%-SHARE68%75%70%75%

IISI_CRUDE STEEL-2


20052004%-VAR.

CHINA28.521.533%164.9128.528%

INDIA2.92.612%17.815.912%

RUSSIA4.65.4-15%32.131.62%

BRAZIL2.52.8-11%15.916.1-1%

JAPAN9.59.41%56.755.82%

THE US7.28.2-12%4748.3-3%

EU-1513.714.5-5%85.285.4-0%

Operations Sales Q3Mn ton (In mln. tons)

Chart7

0.1920.1210.149

0.290.2780.321

0.1650.2040.207

Q3, 05


Q2, 06

Sheet5

Results Q3

Q3, 06Q3, 05Q2, 06


Net sales151817151540

EBIDTA438591393


Interest9011699




EPS:

- Basic9177

- Diluted8156


Goss sales50314744

Net sales45974497

EBIDTA13381493

EBIDTA Margin29%33%

Interest279362

Depreciation351315



EPS:

- Basic2934

- Diluted2731

pdtn 9 mth vol


Pellets2.6252.811



GP / GC0.5040.569


Pellets0.5760.382


GP / GC0.4970.541

pdtn 9 mth vol

00

00

00

Upto Dec, 04

Upto Dec, 05

cost curve

00

00

00

00

Upto Dec, 04

Upto Dec, 05

Sheet2


1Russia250

2Brazil266

3India266

4China335

5USA343

6Taiwan353

7South Korea362

8E. Europe363

9Canada365

10Australia375

11Japan378

12USA388

13Europe445

Sheet2

0

0

0

0

0

0

0

0

0

0

0

0

0


Sheet4

Sheet1




JAN 1997 = 100



Nov-03102.496.795.288.889.392.797.4

Dec102.496.795.489.789.393.598.7

Jan-04104.8102.596.794.694.5101.2104.3

Feb111.8104.9101.198.6109.8111.6120.5

Mar128.7119.3108.9104.4121.7118.4135.3

Apr136.6127115110.5124.8124138

May137.8128.6112110.7120.5121.1134.3

Jun134.1127.2111.1110.7119.3119.1128.1

Jul139.9130.2114.8111.6119.3118.2130

Aug138.4128.6113.5110118116.7128.7

Sep149.8137.3120.3115.2122.6118.6133.3

Oct151.1138.1123.5115.8124.2119.6140.3

Nov155.9144.7130.7123.1126.3122.8143.2

Dec161.9149.9135.7128.5127.8125.7146.5

Jan-05167.1153.7143.4129.4126.3127.4142.9

Feb167.4155149.5133.3130.3126.6146.9

Mar174.6162.9155.3139.2136.7128.1150.8

Apr174162.7154.2134.7132.4127.1146.9

May175.5164.9155.6138133127.8146.5

Jun162.2156.9144.9130.8127.5124.5133.3

Jul148149136.8121.9121.7117.4127.7

Aug150.2151.2138.8123.8123.9119.1129.7

Sep144.4146.6133.6121.9123.5120.8134

Oct135.3141.7125.7116.8119.9118.6135




Dec

Jan-06

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec















pdtnQ3 vol


Nov-03343361427490475315390318342

Dec354367434502488323403327353

Jan-04386400474546524348443355391

Feb414432501573547396482404422

Mar474506563650631479544503511

Apr513540596682654498585517543

May549575614706681498594511547

Jun571602649739715492591496541

Jul585633665754736483584474535

Aug580627659747728478578470530

Sep640704709796768494616511546

Oct644717723799779500633508547

Nov653734735824808511651510562

Dec648750737830823512667510566

Jan-05650756746824828494651493539

Feb635740739809815489634486528

Mar638753750818834487632478529

Apr619744725788814474615468517

May598729706766811472606464513

Jun545696649720769433566426487

Jul493655599674727422536420469

Aug503668611687738428547428479

Sep518680621705728474608483531

Oct517676615698709472614484535




Dec

Jan-06

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec














Demand


Pellets0.9480.9610.942

Crude steel0.5390.5700.553


GP / GC0.1750.2060.203


Pellets0.1920.1210.149


GP / GC0.1650.2040.207

Demand

000

000

000

000

Q3, 05


Q2, 06

price & production

000

000

000

Q3, 05


Q2, 06


20052006200420052006




CIS4548

NAFTA145149

Europe190198

Asia Pacific534570

World998965

00

00

00

00

00

00

00

00

2005

2006

00

00

00

&A

Page &P

World

Asia Pacific


200520052005200520052005200520052005

European Union (25)16.416.016.215.514.413.215.016.415.9

Other Europe2.42.42.42.42.32.52.52.52.4

C.I.S.9.79.49.68.18.49.38.89.19.6

North America11.010.811.110.010.210.510.510.710.3

South America3.93.93.93.63.73.83.63.83.8

Africa1.51.51.61.61.61.51.51.51.4

Middle East1.21.21.31.21.21.21.21.21.3


Total Above65.364.065.761.261.161.061.864.963.6

China27.528.129.728.529.230.530.431.730.5


Total 61 countries92.992.195.489.790.391.492.196.694.1

China27.528.129.728.529.230.530.431.730.5


Total 61 countries92.992.195.489.790.391.492.196.694.1

Prices638619598545493503518517


Prices(World)638619598545493503518517

Prices(India)812839824782736679682675678

Jan-05167.1

Feb167.4

Mar174.6

Apr174

May175.5

Jun162.2

Jul148

Aug150.2

Sep144.4

Oct135.3

92.8587

92.0679

95.3911

89.7308

90.3196

91.434

92.1211

96.6068

94.1116

Total 61 countries

0

0

0

0

0

0

0

0

0

Prices(World)

92.858727.5439

92.067928.0858

95.391129.7296

89.730828.5474

90.319629.2438

91.43430.4563

92.121130.3571

96.606831.6729

94.111630.4776

&A

Page &P

Total 61 countries

China

92.8587638

92.0679619

95.3911598

89.7308545

90.3196493

91.434503

92.1211518

96.6068517

94.1116November, 05

&A

Page &P

Total 61 countries

Prices

167.1

167.4

174.6

174

175.5

162.2

148

150.2

144.4

135.3

00

00

00

00

00

00

00

00

00

&A

Page &P

Prices(World)

Prices(India)

MBD0004CD6F.xls

Chart2

8.27214.33216.26625.095

7.39213.23815.10624.806

8.12114.3416.40427.544

7.95214.12115.96728.086

8.08214.26216.17629.73

7.2513.72215.45128.547

7.55712.75614.40629.244

7.7411.57713.16430.456

7.7913.27414.98430.357

8.00414.5116.40431.673

7.713.8515.89330.479

USA

EU-15

EU-25

CHINA





JAN-05$8$14$16$25$90

FEB-05$7$13$15$25$84

MAR-05$8$14$16$28$93

APR-05$8$14$16$28$92

MAY-05$8$14$16$30$95

JUN-05$7$14$15$29$90

JUL-05$8$13$14$29$90

AUG-05$8$12$13$30$91

SEPT-05$8$13$15$30$92

OCT-05$8$15$16$32$97

NOV-05$8$14$16$30$94


0

0

0

0

0

0

0

0

0

0

0

&A

Page &P

WORLD




JAN-05$8$14$16$25$90

FEB-05$7$13$15$25$84

MAR-05$8$14$16$28$93

APR-05$8$14$16$28$92

MAY-05$8$14$16$30$95

JUN-05$7$14$15$29$90

JUL-05$8$13$14$29$90

AUG-05$8$12$13$30$91

SEPT-05$8$13$15$30$92

OCT-05$8$15$16$32$97

NOV-05$8$14$16$30$94


0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

&A

Page &P

USA

EU-15

EU-25

CHINA



USA_DOM. SHIPMENTS

US SHIPMENTS

JAN-OCT, 2005 v/s 2004

SEGMENT%-VAR

AUTO2.5%

CONSTRUCTION3.3%

OIL & GAS7.4%

STOCKISTS-7.5%

IND. EQUIP.-3.0%

WHITE-GOODS-3.7%


ELECT. EQUIP.-5.5%

TOTAL-9.2%

USA_DOM. SHIPMENTS

0

0

0

0

0

0

0

0

0

%-VAR


India_GDP

2004-05Q-1, 2005-06Q-2, 2005-06


INDUSTRY7.79.77.5

SERVICE8.99.810.1

TOTAL6.98.18.0

India_GDP

0000

0000

0000

AGRICULTURE

INDUSTRY

SERVICE

TOTAL

%-VARIANCE

CIS EXPORT PRICES


(Price in USD / mt)


HRC2 - 8335-350365-370330-350

REBAR12 - 25350-365350-365340-345

WIRE-ROD6.5 - 8350-360350-360330-350

BILLET100 - 150290-300300-310315-320



(Qty's in Mt)

20052004200520042004200520042005 (E)%-VAR.2010 (P)%-CAGR_2005 v/s 2010

DEMANDN.A.N.A.0.050.12971N.A.N.A.9982.8%12073.9%

PRODUCTION2.852.350.960.091057-1053.190.0011256.4%13603.9%

CAPACITY7.085.480.230.101184-1176.680.0012505.6%16005.1%



china_Oct-05 (2)

CHINA

(Qty's in mt)



20052004200520042005200420052004200520042005200420052004

SEMISN.A.N.A.0.050.120.160.69N.A.N.A.0.110.576.143.52-5.010.20

M / H PLATES2.852.350.960.090.270.243.552.20-0.690.153.391.43-2.181.99

HR_STRIPS7.085.480.230.100.060.167.265.42-0.180.061.341.041.261.74

CR1.671.410.560.380.030.062.211.73-0.54-0.320.460.385.545.64

GP0.600.500.320.270.030.070.890.69-0.29-0.190.630.332.713.38

CC0.120.110.030.030.010.010.150.13-0.03-0.020.070.040.260.39

ELECT. STEEL0.240.150.080.120.010.010.310.27-0.07-0.120.080.070.961.33

STEEL PRODUCTS33.1026.771.931.631.341.5133.6926.89-0.59-0.1217.1510.144.7915.42


COKE20.3316.860.000.000.821.6819.5115.190.8207641.67717710.6112.05-10.61-12.05

IRON ORE38.2728.2222.2716.330.000.0060.5544.55-22.274-16.3318010.000.00221.21167.40



CHINA



2005200420052004200520042005200420052004

SEMISN.A.N.A.1.133.726.143.52N.A.N.A.-5.010.20

M / H PLATES25.8221.581.213.423.391.4323.6423.57-2.181.99

HR_STRIPS65.2646.502.602.781.341.0466.5248.241.261.74

CR16.2612.536.006.020.460.3821.8118.175.545.64

GP4.453.403.343.710.630.337.166.782.713.38

CC1.360.900.330.430.070.041.621.290.260.39

ELECT. STEEL1.981.361.041.400.080.072.942.680.961.33

STEEL PRODUCTS301.92240.2821.9325.5617.1510.14306.70255.694.7915.42


COKE188.76148.710.000.0010.6112.05178.15136.66-10.61-12.05

IRON ORE318.96243.89221.21167.400.000.00540.16411.29221.21167.40


china_Oct-05

CHINA

(Qty's in mt)



20052004200520042005200420052004200520042005200420052004


M / H PLATES2.852.350.960.090.270.243.552.20-0.690.1525.8221.5823.6423.57

HR_STRIPS7.085.480.230.100.060.167.265.42-0.180.0665.2646.5066.5248.24

CR1.671.410.560.380.030.062.211.73-0.54-0.3216.2612.5321.8118.17

GP0.600.500.320.270.030.070.890.69-0.29-0.194.453.407.166.78

CC0.120.110.030.030.010.010.150.13-0.03-0.021.360.901.621.29

ELECT. STEEL0.240.150.080.120.010.010.310.27-0.07-0.121.981.362.942.68

STEEL PRODUCTS33.1026.771.931.631.341.5133.6926.89-0.59-0.12301.92240.28306.70255.69


COKE20.3316.860.000.000.821.6819.5115.190.8207641.677177188.76148.71178.15136.66

IRON ORE38.2728.2222.2716.330.000.0060.5544.55-22.274-16.331801318.96243.89540.16411.29


china_Jan-Oct, 2005

CHINA



2005200420052004200520042005200420052004

SEMISN.A.N.A.1.133.726.143.52N.A.N.A.-5.010.20

M / H PLATES25.8221.581.213.423.391.4323.6423.57-2.181.99

HR_STRIPS65.2646.502.602.781.341.0466.5248.241.261.74

CR16.2612.536.006.020.460.3821.8118.175.545.64

GP4.453.403.343.710.630.337.166.782.713.38

CC1.360.900.330.430.070.041.621.290.260.39

ELECT. STEEL1.981.361.041.400.080.072.942.680.961.33

STEEL PRODUCTS301.92240.2821.9325.5617.1510.14306.70255.694.7915.42


COKE188.76148.710.000.0010.6112.05178.15136.66-10.61-12.05

IRON ORE318.96243.89221.21167.400.000.00540.16411.29221.21167.40


iNDIA_Auto

PRODUCTION

PERIOD : JAN - NOV

CATEGORY

20042005%-VAR.





2 & 3 - WHEELERS$4,478$5,266$(788)18%

$5,477$6,35316%

iNDIA_Auto

000

000

000

000

000

&A

Page &P

2004

2005

%-VAR.


%-VARIANCE

us_IMP._COATED

INDIA-US

20002001200220032004JAN-SEPT, 2004JAN-SEPT, 2005

TOTAL186154206157277251228

INDIA243116545126

%-SAHRE1%3%15%10%20%20%12%

us_IMP._COATED

000

000

000

000

000

000

000

&A

Page &P

TOTAL

INDIA

%-SAHRE






1Semis20.4818.129.516.449.5612.44089.122.770.91239.28



4CR1,6091,5466467785918357781,2357041,91010,632




8Bars-Hot rolled681.1369.2281.9471.9336.5220.7349.7322.9211.15493,794


10Total Bars1,8041,6201,7321,7322,0971,1471,5951,4471,4121,58816,173


12Wire Rods.52.134.933.518.334.817.5...191

13Standard Pipe6,5092,5312,3022,588827.22,2881,1262,1031,0943,91225,280

All Products44,17940,21655,10361,04443,04573,0609,89836,45039,49943,170445,664

Coated_Jan-Oct, 20041109801193381921801921802195062331163160813454013697653541133262302,778,890

All Products


Standard Pipe

Bars-Cold Finished

Sheets Hot Rolled

Bars-Hot rolled

Wire Rods

Plates in Coils

Bars-Reinforcing


US_Imp_NOV, 2005

US DATA

Y-O-Y


1Semis686421-39%

2Plates204135-34%

3HR439211-52%

4CR297160-46%

5HDG299180-40%



8Rebars1531594%


10Total Steel31152145-31.1%

-970

-31%

US_Imp_NOV, 2005

00

00

00

00

00

00

00

00

00

NOV-04

NOV-05 (P)


US DATA

Y-O-Y


1Semis62275564-11%

2Plates172117653%

3HR36752632-28%

4CR21901719-22%

5HDG23941889-21%



8Rebars17001188-30%

9Wire-Rods31522116-33%

10Total Steel2983226439-11.4%

-3393

-11%

0-970

0-0


00

00

00

00

00

00

00

00

00

JAN-NOV, 2004

JAN-NOV, 2005


US DATA

Y-O-Y


1Semis55415142-7%

2Plates151616297%

3HR32352421-25%

4CR18921559-18%

5HDG20951708-18%



8Rebars15471029-33%

9Wire-Rods29492007-32%

10Total Steel2671624294-9%

0-970

0-0



USD ~ INR44.1344.630.51.1%

EU ~ USD1.23361.2111-0.02-1.8%

USD ~ YEN110.71113.813.12.8%


0

0

0

Sheet7



HR550385-505384470-505

CR680560-645604636

GP770580-645609659

Sheet6 (2)




SAIL5500370015005200N.A.52003005500370015005200N.A.5200300

TATA310089019202810N.A.28102903200100020003000N.A.3000200

ESSAR300014702301700N.A.170013004100180015003300N.A.3300800

JSW220010002001200N.A.120010003000150010002500N.A.2500500

ISPAT25001740601800N.A.1800700360015005002000N.A.20001600

TOTAL16300880039101271012001391035901940095006500160001200172003400

2004-051407077753349111248001192421461630088003910127101200139103590

%-VAR.16%13%17%14%50%17%67%19%8%66%26%0%24%-5%

Sheet6




SAIL550037001500N.A.5200300550037001500N.A.5200300

TATA31008901920N.A.2810290320010002000N.A.3000200

ESSAR30001470230N.A.17001300410018001500N.A.3300800

JSW22001000200N.A.12001000300015001000N.A.2500500

ISPAT2500174060N.A.180070036001500500N.A.20001600

TOTAL1630088003910120013910359019400950065001200172003400

Y-O-Y140707775334980011924214616300880039101200139103590

%-VAR.16%13%17%50%17%67%19%8%66%0%24%-5%





IRON ORE_Fe-63%75092100650575105624-68

BILLET29803671002880239022500511144

SLAB300037010029002406N.A.N.A.N.A.

HR_3.0mm CTL38504751003750311227300620146

CR_0.6mm6000740100590048963475079050

HDG_0.4mm6150758100605050203550080748

Sheet2





CNF610573630620790620660670


FOB550523605593730570635643

USD ~ INR43.543.543.543.543.543.543.543.5

2392522768263182579631755247952762327971

DEPB95791110531032127099211051119

2488223679273702682733025257872872729089

LOCAL FRT500500500500500500500500

NET REALISATION2438223179268702632732525252872822728589

IND. PRICE2160021600216002160021600216002160021600

SPREAD278215795270472710925368766276989

=





HR_SHEET GUAGE26500602472420-460

HR_PLATE GUAGE27200618485420-460

CRCA_0.6mm34750790619N.A.

HDG_0.4mm35500807633N.A.




IRON ORE_Fe-63%6908510059052264750N.A.

BILLET2980367100288023902953140314

SLAB3000370100290024062973160316

HR_3.0mm CTL38504751003750311238440645361

CR_0.7mm60007401005900489660463270563

HDG_0.5mm60507461005950493760963870567



2004200420052005

AUSTRALIA40.523561.4640

INDIA29.942637.0424

BRAZIL24.652129.6119

S. AFRICA7.0566.474

TOTAL_IMPORTS115.93100152.82100


00

00

00

00

00

2005

2005

2004

2004



Jan-Jul .. 7-Months

20042005

AUSTRALIA40.5261.4661.46

INDIA29.9437.0437.04

BRAZIL24.6529.6129.61

S. AFRICA7.056.476.47

TOTAL_IMPORTS115.93152.82152.82


00

00

00

00

00

2004

2005


china_sept. 2005

CHINA



2005200420052004200520042005200420052004

SEMISN.A.N.A.0.1140.0940.1380.639N.A.N.A.0.0240.545

M / H PLATES2.712.200.280.150.310.272.692.080.0220.12

HR_STRIPS6.645.310.370.150.130.146.895.32-0.245-0.01

CR1.781.390.720.400.040.042.461.75-0.68-0.36

GP0.500.320.370.300.040.050.830.57-0.33-0.25

CC0.160.090.040.030.010.010.190.12-0.033-0.027

STEEL PRODUCTS30.3524.822.501.781.361.3131.4925.29-1.14-0.47


COKE18.8116.170.000.000.752.1018.0714.070.7452.1

IRON ORE34.3127.5423.0218.720.000.0057.3346.26-23.02-18.72



CHINA



2005200420052004200520042005200420052004

SEMISN.A.N.A.1.083.605.992.83N.A.N.A.4.91-0.77

M / H PLATES22.9819.231.654.674.051.4620.5822.442.4-3.21

HR_STRIPS58.2541.032.372.681.280.8859.3442.83-1.09-1.8

CR14.5611.125.445.640.440.3219.5616.44-5-5.32

GP3.852.903.023.440.600.266.276.08-2.42-3.18

CC1.240.800.300.400.060.031.481.17-0.24-0.37

STEEL PRODUCTS255.28200.4019.9923.9315.808.63259.47215.70-4.19-15.3


COKE167.80131.860.000.009.7910.37158.01121.499.7910.37

IRON ORE279.65215.78198.93151.070.000.00478.58366.85-198.93-151.07


Sheet4

Sheet3

JAN-05FEB-05MAR-05APR-05MAY-05JUN-05JUL-05AUG-05

2.0mm_COIL2725027500275002900029000265002400022500

5-10mm_CTL3250032900341003550035500320002850026500

Sheet3

000

000

000

000

000

000

000

000

2.0mm_COIL

5-10mm_CTL

Rs. / mt

DOMESTIC PRICE TREND

US-Import

PRODUCTMONTHLYJAN - JUN

20052004Y-O-Y20052004Y-O-Y

SEMIS448640-30%3161.43087.32%

TOTAL STEEL23273045.8-24%15120.2114128.787%

HR207375-45%1547.81530.31%

CR127231-45%1022.0587317%

HDG161253-36%1140.194621%

China-Import & Exports

PRODUCTEXPORT (MnT)IMPORT (MnT)NET IMPORT (MnT)

20052004Y-O-Y20052004Y-O-Y20052004Y-O-Y

SEMIS4.71.3262%0.80.4100%-3.9-0.9333%

STEEL PRODUCTS11.64.6152%13.218.1-27%1.613.5-88%

TOTAL STEEL16.35.9176%1418.5-24%-2.312.6-118%

FLAT STEEL5.31.4279%11.515.6-26%6.214.2-56%

AUTO_DOM.

CATEGORYPRODUCTION

20052004VARIANCE

NO'S%

PASSENGER VEHICLES$515,446$473,349$42,0979%

MED. / HVY. COMML. VEHICLES$81,855$78,735$3,1204%

LIGHT COMML. VEHICLES$62,511$50,615$11,89624%

TOTAL COMML. VEHICLES$144,366$129,350$15,01612%

TOTAL AUTO VEHICLES$659,812$602,699$57,1139%

2 & 3 - WHEELERS$3,023,338$2,611,667$411,67116%

GRAND TOTAL$3,683,150$3,214,366$468,78415%

IISI_CRUDE STEEL-1


20052004%-VAR.

ASIA46.63919%273233.617%

%-SHARE52%46%50%46%

BRIC38.532.319%230.7192.120%

%-SHARE43%38%42%38%

EU-2515.516.6-7%96.598.2-2%

%-SHARE17%19%18%19%

NAFTA9.910.9-9%63.664.7-2%

%-SHARE11%13%12%13%

CHINA28.521.533%164.9128.528%

%-SHARE32%25%30%25%

WORLD89.785.35%546.3507.98%

WORLD (-) CHINA61.263.8-4%381.4379.41%

%-SHARE68%75%70%75%

IISI_CRUDE STEEL-2


20052004%-VAR.

CHINA28.521.533%164.9128.528%

INDIA2.92.612%17.815.912%

RUSSIA4.65.4-15%32.131.62%

BRAZIL2.52.8-11%15.916.1-1%

JAPAN9.59.41%56.755.82%

THE US7.28.2-12%4748.3-3%

EU-1513.714.5-5%85.285.4-0%

Production upto Dec, 05 vs Dec, 04Volume mt7%26%28%13%

Chart1

2.6252.811

1.3171.655

1.2411.595

0.5040.569

Upto Dec, 04

Upto Dec, 05

Sheet5

Capacity availableAt 2.5 mtpaAt 3.8 mtpa

Pellet4.25.0

Slabs2.63.9

HR Coils2.02.5

HR Plates0.10.2

CR Products1.01.0

GP / GC0.90.9

Colour coated0.10.1

Upto 31st Dec. 04Key financial ratiosUpto 31st Dec. 05

ROCE

ROE

Cash EPS

Book value per share

Market value per share

Book value per MT

Implementation cost per MT

Results Q3

Q3, 05Current quarterQ2, 06


Net sales171515181540

EBIDTA591438393


Interest1169099




EPS:

- Basic1797

- Diluted86


Goss sales50314744

Net sales45974497

EBIDTA13381493

EBIDTA Margin29%33%

Interest279362

Depreciation351315



EPS:

- Basic2934

- Diluted2731

pdtn 9 mth vol


Pellets2.6252.811



GP / GC0.5040.569


Pellets0.5760.382


GP / GC0.4970.541

pdtn 9 mth vol

00

00

00

Upto Dec, 04

Upto Dec, 05

cost curve

00

00

00

00

Upto Dec, 04

Upto Dec, 05

Sheet2


1Russia250

2Brazil266

3India266

4China335

5USA343

6Taiwan353

7South Korea362

8E. Europe363

9Canada365

10Australia375

11Japan378

12USA388

13Europe445

Sheet2

0

0

0

0

0

0

0

0

0

0

0

0

0


Sheet4

Sheet1




JAN 1997 = 100



Nov-03102.496.795.288.889.392.797.4

Dec102.496.795.489.789.393.598.7

Jan-04104.8102.596.794.694.5101.2104.3

Feb111.8104.9101.198.6109.8111.6120.5

Mar128.7119.3108.9104.4121.7118.4135.3

Apr136.6127115110.5124.8124138

May137.8128.6112110.7120.5121.1134.3

Jun134.1127.2111.1110.7119.3119.1128.1

Jul139.9130.2114.8111.6119.3118.2130

Aug138.4128.6113.5110118116.7128.7

Sep149.8137.3120.3115.2122.6118.6133.3

Oct151.1138.1123.5115.8124.2119.6140.3

Nov155.9144.7130.7123.1126.3122.8143.2

Dec161.9149.9135.7128.5127.8125.7146.5

Jan-05167.1153.7143.4129.4126.3127.4142.9

Feb167.4155149.5133.3130.3126.6146.9

Mar174.6162.9155.3139.2136.7128.1150.8

Apr174162.7154.2134.7132.4127.1146.9

May175.5164.9155.6138133127.8146.5

Jun162.2156.9144.9130.8127.5124.5133.3

Jul148149136.8121.9121.7117.4127.7

Aug150.2151.2138.8123.8123.9119.1129.7

Sep144.4146.6133.6121.9123.5120.8134

Oct135.3141.7125.7116.8119.9118.6135




Dec

Jan-06

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec















pdtnQ3 vol


Nov-03343361427490475315390318342

Dec354367434502488323403327353

Jan-04386400474546524348443355391

Feb414432501573547396482404422

Mar474506563650631479544503511

Apr513540596682654498585517543

May549575614706681498594511547

Jun571602649739715492591496541

Jul585633665754736483584474535

Aug580627659747728478578470530

Sep640704709796768494616511546

Oct644717723799779500633508547

Nov653734735824808511651510562

Dec648750737830823512667510566

Jan-05650756746824828494651493539

Feb635740739809815489634486528

Mar638753750818834487632478529

Apr619744725788814474615468517

May598729706766811472606464513

Jun545696649720769433566426487

Jul493655599674727422536420469

Aug503668611687738428547428479

Sep518680621705728474608483531

Oct517676615698709472614484535




Dec

Jan-06

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec














Demand


Pellets0.9480.9610.942

Crude steel0.5390.5700.553


GP / GC0.1750.2060.203


Pellets0.1920.1210.149


GP / GC0.1650.2040.207

Demand

000

000

000

000

Q3, 05


Q2, 06

price & production

000

000

000

Q3, 05


Q2, 06


20052006200420052006




CIS4548

NAFTA145149

Europe190198

Asia Pacific534570

World998965

00

00

00

00

00

00

00

00

2005

2006

00

00

00

&A

Page &P

World

Asia Pacific


200520052005200520052005200520052005

European Union (25)16.416.016.215.514.413.215.016.415.9

Other Europe2.42.42.42.42.32.52.52.52.4

C.I.S.9.79.49.68.18.49.38.89.19.6

North America11.010.811.110.010.210.510.510.710.3

South America3.93.93.93.63.73.83.63.83.8

Africa1.51.51.61.61.61.51.51.51.4

Middle East1.21.21.31.21.21.21.21.21.3


Total Above65.364.065.761.261.161.061.864.963.6

China27.528.129.728.529.230.530.431.730.5


Total 61 countries92.992.195.489.790.391.492.196.694.1

China27.528.129.728.529.230.530.431.730.5


Total 61 countries92.992.195.489.790.391.492.196.694.1

Prices638619598545493503518517


Prices(World)638619598545493503518517

Prices(India)812839824782736679682675678

Jan-05167.1

Feb167.4

Mar174.6

Apr174

May175.5

Jun162.2

Jul148

Aug150.2

Sep144.4

Oct135.3

92.8587

92.0679

95.3911

89.7308

90.3196

91.434

92.1211

96.6068

94.1116

Total 61 countries

0

0

0

0

0

0

0

0

0

Prices(World)

92.858727.5439

92.067928.0858

95.391129.7296

89.730828.5474

90.319629.2438

91.43430.4563

92.121130.3571

96.606831.6729

94.111630.4776

&A

Page &P

Total 61 countries

China

92.8587638

92.0679619

95.3911598

89.7308545

90.3196493

91.434503

92.1211518

96.6068517

94.1116November, 05

&A

Page &P

Total 61 countries

Prices

167.1

167.4

174.6

174

175.5

162.2

148

150.2

144.4

135.3

00

00

00

00

00

00

00

00

00

&A

Page &P

Prices(World)

Prices(India)

MBD0004CD6F.xls

Chart2

8.27214.33216.26625.095

7.39213.23815.10624.806

8.12114.3416.40427.544

7.95214.12115.96728.086

8.08214.26216.17629.73

7.2513.72215.45128.547

7.55712.75614.40629.244

7.7411.57713.16430.456

7.7913.27414.98430.357

8.00414.5116.40431.673

7.713.8515.89330.479

USA

EU-15

EU-25

CHINA





JAN-05$8$14$16$25$90

FEB-05$7$13$15$25$84

MAR-05$8$14$16$28$93

APR-05$8$14$16$28$92

MAY-05$8$14$16$30$95

JUN-05$7$14$15$29$90

JUL-05$8$13$14$29$90

AUG-05$8$12$13$30$91

SEPT-05$8$13$15$30$92

OCT-05$8$15$16$32$97

NOV-05$8$14$16$30$94


0

0

0

0

0

0

0

0

0

0

0

&A

Page &P

WORLD




JAN-05$8$14$16$25$90

FEB-05$7$13$15$25$84

MAR-05$8$14$16$28$93

APR-05$8$14$16$28$92

MAY-05$8$14$16$30$95

JUN-05$7$14$15$29$90

JUL-05$8$13$14$29$90

AUG-05$8$12$13$30$91

SEPT-05$8$13$15$30$92

OCT-05$8$15$16$32$97

NOV-05$8$14$16$30$94


0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

&A

Page &P

USA

EU-15

EU-25

CHINA



USA_DOM. SHIPMENTS

US SHIPMENTS

JAN-OCT, 2005 v/s 2004

SEGMENT%-VAR

AUTO2.5%

CONSTRUCTION3.3%

OIL & GAS7.4%

STOCKISTS-7.5%

IND. EQUIP.-3.0%

WHITE-GOODS-3.7%


ELECT. EQUIP.-5.5%

TOTAL-9.2%

USA_DOM. SHIPMENTS

0

0

0

0

0

0

0

0

0

%-VAR


India_GDP

2004-05Q-1, 2005-06Q-2, 2005-06


INDUSTRY7.79.77.5

SERVICE8.99.810.1

TOTAL6.98.18.0

India_GDP

0000

0000

0000

AGRICULTURE

INDUSTRY

SERVICE

TOTAL

%-VARIANCE

CIS EXPORT PRICES


(Price in USD / mt)


HRC2 - 8335-350365-370330-350

REBAR12 - 25350-365350-365340-345

WIRE-ROD6.5 - 8350-360350-360330-350

BILLET100 - 150290-300300-310315-320



(Qty's in Mt)

20052004200520042004200520042005 (E)%-VAR.2010 (P)%-CAGR_2005 v/s 2010

DEMANDN.A.N.A.0.050.12971N.A.N.A.9982.8%12073.9%

PRODUCTION2.852.350.960.091057-1053.190.0011256.4%13603.9%

CAPACITY7.085.480.230.101184-1176.680.0012505.6%16005.1%



china_Oct-05 (2)

CHINA

(Qty's in mt)



20052004200520042005200420052004200520042005200420052004

SEMISN.A.N.A.0.050.120.160.69N.A.N.A.0.110.576.143.52-5.010.20

M / H PLATES2.852.350.960.090.270.243.552.20-0.690.153.391.43-2.181.99

HR_STRIPS7.085.480.230.100.060.167.265.42-0.180.061.341.041.261.74

CR1.671.410.560.380.030.062.211.73-0.54-0.320.460.385.545.64

GP0.600.500.320.270.030.070.890.69-0.29-0.190.630.332.713.38

CC0.120.110.030.030.010.010.150.13-0.03-0.020.070.040.260.39

ELECT. STEEL0.240.150.080.120.010.010.310.27-0.07-0.120.080.070.961.33

STEEL PRODUCTS33.1026.771.931.631.341.5133.6926.89-0.59-0.1217.1510.144.7915.42


COKE20.3316.860.000.000.821.6819.5115.190.8207641.67717710.6112.05-10.61-12.05

IRON ORE38.2728.2222.2716.330.000.0060.5544.55-22.274-16.3318010.000.00221.21167.40



CHINA



2005200420052004200520042005200420052004

SEMISN.A.N.A.1.133.726.143.52N.A.N.A.-5.010.20

M / H PLATES25.8221.581.213.423.391.4323.6423.57-2.181.99

HR_STRIPS65.2646.502.602.781.341.0466.5248.241.261.74

CR16.2612.536.006.020.460.3821.8118.175.545.64

GP4.453.403.343.710.630.337.166.782.713.38

CC1.360.900.330.430.070.041.621.290.260.39

ELECT. STEEL1.981.361.041.400.080.072.942.680.961.33

STEEL PRODUCTS301.92240.2821.9325.5617.1510.14306.70255.694.7915.42


COKE188.76148.710.000.0010.6112.05178.15136.66-10.61-12.05

IRON ORE318.96243.89221.21167.400.000.00540.16411.29221.21167.40


china_Oct-05

CHINA

(Qty's in mt)



20052004200520042005200420052004200520042005200420052004


M / H PLATES2.852.350.960.090.270.243.552.20-0.690.1525.8221.5823.6423.57

HR_STRIPS7.085.480.230.100.060.167.265.42-0.180.0665.2646.5066.5248.24

CR1.671.410.560.380.030.062.211.73-0.54-0.3216.2612.5321.8118.17

GP0.600.500.320.270.030.070.890.69-0.29-0.194.453.407.166.78

CC0.120.110.030.030.010.010.150.13-0.03-0.021.360.901.621.29

ELECT. STEEL0.240.150.080.120.010.010.310.27-0.07-0.121.981.362.942.68

STEEL PRODUCTS33.1026.771.931.631.341.5133.6926.89-0.59-0.12301.92240.28306.70255.69


COKE20.3316.860.000.000.821.6819.5115.190.8207641.677177188.76148.71178.15136.66

IRON ORE38.2728.2222.2716.330.000.0060.5544.55-22.274-16.331801318.96243.89540.16411.29


china_Jan-Oct, 2005

CHINA



2005200420052004200520042005200420052004

SEMISN.A.N.A.1.133.726.143.52N.A.N.A.-5.010.20

M / H PLATES25.8221.581.213.423.391.4323.6423.57-2.181.99

HR_STRIPS65.2646.502.602.781.341.0466.5248.241.261.74

CR16.2612.536.006.020.460.3821.8118.175.545.64

GP4.453.403.343.710.630.337.166.782.713.38

CC1.360.900.330.430.070.041.621.290.260.39

ELECT. STEEL1.981.361.041.400.080.072.942.680.961.33

STEEL PRODUCTS301.92240.2821.9325.5617.1510.14306.70255.694.7915.42


COKE188.76148.710.000.0010.6112.05178.15136.66-10.61-12.05

IRON ORE318.96243.89221.21167.400.000.00540.16411.29221.21167.40


iNDIA_Auto

PRODUCTION

PERIOD : JAN - NOV

CATEGORY

20042005%-VAR.





2 & 3 - WHEELERS$4,478$5,266$(788)18%

$5,477$6,35316%

iNDIA_Auto

000

000

000

000

000

&A

Page &P

2004

2005

%-VAR.


%-VARIANCE

us_IMP._COATED

INDIA-US

20002001200220032004JAN-SEPT, 2004JAN-SEPT, 2005

TOTAL186154206157277251228

INDIA243116545126

%-SAHRE1%3%15%10%20%20%12%

us_IMP._COATED

000

000

000

000

000

000

000

&A

Page &P

TOTAL

INDIA

%-SAHRE






1Semis20.4818.129.516.449.5612.44089.122.770.91239.28



4CR1,6091,5466467785918357781,2357041,91010,632




8Bars-Hot rolled681.1369.2281.9471.9336.5220.7349.7322.9211.15493,794


10Total Bars1,8041,6201,7321,7322,0971,1471,5951,4471,4121,58816,173


12Wire Rods.52.134.933.518.334.817.5...191

13Standard Pipe6,5092,5312,3022,588827.22,2881,1262,1031,0943,91225,280

All Products44,17940,21655,10361,04443,04573,0609,89836,45039,49943,170445,664

Coated_Jan-Oct, 20041109801193381921801921802195062331163160813454013697653541133262302,778,890

All Products


Standard Pipe

Bars-Cold Finished

Sheets Hot Rolled

Bars-Hot rolled

Wire Rods

Plates in Coils

Bars-Reinforcing


US_Imp_NOV, 2005

US DATA

Y-O-Y


1Semis686421-39%

2Plates204135-34%

3HR439211-52%

4CR297160-46%

5HDG299180-40%



8Rebars1531594%


10Total Steel31152145-31.1%

-970

-31%

US_Imp_NOV, 2005

00

00

00

00

00

00

00

00

00

NOV-04

NOV-05 (P)


US DATA

Y-O-Y


1Semis62275564-11%

2Plates172117653%

3HR36752632-28%

4CR21901719-22%

5HDG23941889-21%



8Rebars17001188-30%

9Wire-Rods31522116-33%

10Total Steel2983226439-11.4%

-3393

-11%

0-970

0-0


00

00

00

00

00

00

00

00

00

JAN-NOV, 2004

JAN-NOV, 2005


US DATA

Y-O-Y


1Semis55415142-7%

2Plates151616297%

3HR32352421-25%

4CR18921559-18%

5HDG20951708-18%



8Rebars15471029-33%

9Wire-Rods29492007-32%

10Total Steel2671624294-9%

0-970

0-0



USD ~ INR44.1344.630.51.1%

EU ~ USD1.23361.2111-0.02-1.8%

USD ~ YEN110.71113.813.12.8%


0

0

0

Sheet7



HR550385-505384470-505

CR680560-645604636

GP770580-645609659

Sheet6 (2)




SAIL5500370015005200N.A.52003005500370015005200N.A.5200300

TATA310089019202810N.A.28102903200100020003000N.A.3000200

ESSAR300014702301700N.A.170013004100180015003300N.A.3300800

JSW220010002001200N.A.120010003000150010002500N.A.2500500

ISPAT25001740601800N.A.1800700360015005002000N.A.20001600

TOTAL16300880039101271012001391035901940095006500160001200172003400

2004-051407077753349111248001192421461630088003910127101200139103590

%-VAR.16%13%17%14%50%17%67%19%8%66%26%0%24%-5%

Sheet6




SAIL550037001500N.A.5200300550037001500N.A.5200300

TATA31008901920N.A.2810290320010002000N.A.3000200

ESSAR30001470230N.A.17001300410018001500N.A.3300800

JSW22001000200N.A.12001000300015001000N.A.2500500

ISPAT2500174060N.A.180070036001500500N.A.20001600

TOTAL1630088003910120013910359019400950065001200172003400

Y-O-Y140707775334980011924214616300880039101200139103590

%-VAR.16%13%17%50%17%67%19%8%66%0%24%-5%





IRON ORE_Fe-63%75092100650575105624-68

BILLET29803671002880239022500511144

SLAB300037010029002406N.A.N.A.N.A.

HR_3.0mm CTL38504751003750311227300620146

CR_0.6mm6000740100590048963475079050

HDG_0.4mm6150758100605050203550080748

Sheet2





CNF610573630620790620660670


FOB550523605593730570635643

USD ~ INR43.543.543.543.543.543.543.543.5

2392522768263182579631755247952762327971

DEPB95791110531032127099211051119

2488223679273702682733025257872872729089

LOCAL FRT500500500500500500500500

NET REALISATION2438223179268702632732525252872822728589

IND. PRICE2160021600216002160021600216002160021600

SPREAD278215795270472710925368766276989

=





HR_SHEET GUAGE26500602472420-460

HR_PLATE GUAGE27200618485420-460

CRCA_0.6mm34750790619N.A.

HDG_0.4mm35500807633N.A.




IRON ORE_Fe-63%6908510059052264750N.A.

BILLET2980367100288023902953140314

SLAB3000370100290024062973160316

HR_3.0mm CTL38504751003750311238440645361

CR_0.7mm60007401005900489660463270563

HDG_0.5mm60507461005950493760963870567



2004200420052005

AUSTRALIA40.523561.4640

INDIA29.942637.0424

BRAZIL24.652129.6119

S. AFRICA7.0566.474

TOTAL_IMPORTS115.93100152.82100


00

00

00

00

00

2005

2005

2004

2004



Jan-Jul .. 7-Months

20042005

AUSTRALIA40.5261.4661.46

INDIA29.9437.0437.04

BRAZIL24.6529.6129.61

S. AFRICA7.056.476.47

TOTAL_IMPORTS115.93152.82152.82


00

00

00

00

00

2004

2005


china_sept. 2005

CHINA



2005200420052004200520042005200420052004

SEMISN.A.N.A.0.1140.0940.1380.639N.A.N.A.0.0240.545

M / H PLATES2.712.200.280.150.310.272.692.080.0220.12

HR_STRIPS6.645.310.370.150.130.146.895.32-0.245-0.01

CR1.781.390.720.400.040.042.461.75-0.68-0.36

GP0.500.320.370.300.040.050.830.57-0.33-0.25

CC0.160.090.040.030.010.010.190.12-0.033-0.027

STEEL PRODUCTS30.3524.822.501.781.361.3131.4925.29-1.14-0.47


COKE18.8116.170.000.000.752.1018.0714.070.7452.1

IRON ORE34.3127.5423.0218.720.000.0057.3346.26-23.02-18.72



CHINA



2005200420052004200520042005200420052004

SEMISN.A.N.A.1.083.605.992.83N.A.N.A.4.91-0.77

M / H PLATES22.9819.231.654.674.051.4620.5822.442.4-3.21

HR_STRIPS58.2541.032.372.681.280.8859.3442.83-1.09-1.8

CR14.5611.125.445.640.440.3219.5616.44-5-5.32

GP3.852.903.023.440.600.266.276.08-2.42-3.18

CC1.240.800.300.400.060.031.481.17-0.24-0.37

STEEL PRODUCTS255.28200.4019.9923.9315.808.63259.47215.70-4.19-15.3


COKE167.80131.860.000.009.7910.

Documents

Analyst Meet Third Quarter – 2005-06. Contents Operations Financials Outlook Industry Company