WORLD STEEL OUTLOOK - MEPS

1 (International) ltd263 Glossop RoadSheffield S10 2 GZt: 0114 275 0570f: 0114 275 9808e: STEELOUTLOOKQUARTER 2 - 2018(international) (INTERNATIONAL) LTD263 Glossop Road, Sheffi eld,S10 2GZ, UKTelephone: (0114) 275 0570 Fax: (0114) 275 9808E-mail: Website: 2018 All rights reservedPhotocopying, faxing or forwarding by e-mail to a third party is strictly prohibited without the permission of MEPS (International) LtdMEPS WORLD STEEL OUTLOOK to 2022 Quarter 2 - 2018 May 2018 The Quarter 3 report will be dispatched on 6 August, 2018 Annual subscription rate 2018 - 1350 MEPS WORLD STEEL OUTLOOK Q2 - 2018 May 2018 Copyright 2018 by MEPS. No information contained in this report may be used or reproduced in any manner whatsoever without written permission from the PublicationsWe produce a family of monthly, quarterly and annual reports focusing on all the important issues in the international STEEL Reviews European STEEL Review Supplement To European STEEL Review International STEEL Review Stainless STEEL Review Developing Markets STEEL Review Ferrous Scrap Review Semi-Finished STEEL ReviewThese are in the form of newsletters for easy presentation.

2 Each issue is prepared from in depth research into market conditions and price trends in the relevant region. We undertake extensive discussions with end-users, service centres and STEEL traders actively operating in the market for each product category. The data collected is analysed and evaluated for presentation in a coherent format useful to our clients. We pride ourselves on being the WORLD leader in the provision of accurate STEEL price are published showing high and low prices for the most popular product categories and grades. These values are acknowledged as the benchmark for pricing in each country. They are used by STEEL consumers in a wide range of manufacturing and construction sectors to obtain an accurate but independent viewpoint of both local and foreign markets. In addition, these reports are utilised by industry analysts, bankers and government departments to keep abreast of current trends within the monthly review incorporates narrative, highlighting the important tendencies on supply, demand and price.

3 These comments are an extremely useful adjunct to the main price tables, which enable our clients to understand the likely market trends. Finally, these regular reports are often used as the reference for price agreements between customers and ReportMEPS STEEL Price Forecasts To 2022 - A Five Year STEEL Price ForecastThe predictions in this family of reports have been prepared using the key factors which MEPS have found to be statistically signifi cant in affecting STEEL prices. They have been extensively researched and developed through rigorous formal analysis of the global for the following regions: European Union, North America and Asia. Free samples of MEPS Publications are available at our WORLD STEEL OUTLOOK Q2 - 2018 May 2018 Copyright 2018 by MEPS. No information contained in this report may be used or reproduced in any manner whatsoever without written permission from the Page 1.

4 Iron & STEEL Production Crude STEEL 1 Blast Furnace Iron 5 Direct Reduced Iron 7 2. Finished STEEL Production, Trade & Consumption EU 9 China 11 India 13 Japan 15 South Korea 17 Taiwan

5 19 Brazil 21 USA 23 Data by Product 253. Regional STEEL Prices Graphs 354. Appendix Historical Data Tables Crude STEEL , Pig Iron & DRI Production 39 Finished STEEL 42 Percentage Change Tables 50 5.

6 Defi nitions 64 ContentsMEPS WORLD STEEL OUTLOOK Q2 - 2018 May 2018 Copyright 2018 by MEPS. No information contained in this report may be used or reproduced in any manner whatsoever without written permission from the 1 Iron & STEEL Production Crude STEEL Blast Furnace Iron Direct Reduced IronMEPS WORLD STEEL OUTLOOK Q2 - 2018 May 2018 Copyright 2018 by MEPS. No information contained in this report may be used or reproduced in any manner whatsoever without written permission from the HereEuropean UnionCommentary HereOther EuropeIron & STEEL Global Iron and STEEL Production (Million Tonnes)Crude SteelBlast Furnace IronDirect Reduced Iron20172018(f)% +/-20172018(f)% +/-20172018(f)% +/-EU 28???????????????????????????Other Europe???????????????????????????CIS???? ???????????????????????North America???????????????????????????South America?

7 ??????????????????????????Africa???????? ???????????????????Middle East???????????????????????????China???? ???????????????????????India???????????? ???????????????Japan ???????????????????????????Other Asia???????????????????????????Oceania?? ????????????????????????? WORLD ?????????? ?????????????????Source: worldsteel & MEPS Notes: (e) estimate (f) forecastMEPS WORLD STEEL OUTLOOK Q2 - 2018 May 2018 Copyright 2018 by MEPS. No information contained in this report may be used or reproduced in any manner whatsoever without written permission from the STEEL Production - Quarterly ( 000 Tonnes)ActualForecastYearQ1/17Q2/17Q3/17 Q4/17Q1/18Q2/18Q3/18Q4/1820172018(f)Aust ria????????????????????????????????????? ???Belgium?????????????????????????????? ??????????Czech Republic?????????????????????????????

8 ???????????Finland?????????????????????? ??????????????????France???????????????? ????????????????????????Germany(e)?????? ??????????????????????????????????Hungar y??????????????????????????????????????? ?Italy?????????????????????????????????? ??????Luxembourg???????????????????????? ????????????????Netherlands????????????? ???????????????????????????Poland??????? ?????????????????????????????????Romania (e)????????????????????????????????????? ???Slovakia????????????????????????????? ???????????Spain???????????????????????? ????????????????Sweden?????????????????? ??????????????????????United Kingdom????????????????????????????????? ???????Rest of EU 28(e)??????????????????????????????????? ?????EU 28?????????????????????????????????????? ?????Turkey????????????????????????????? ???????????Rest of (e)????????????????????????????????????? ???Other Europe??????????????????????????????

9 ?????????????Kazakhstan????????????????? ???????????????????????Russia??????????? ?????????????????????????????Ukraine???? ????????????????????????????????????Rest of CIS(e)?????????????????????????????????? ??????CIS??????????????????????????????? ????????????Canada?????????????????????? ??????????????????Mexico???????????????? ????????????????????????USA????????????? ???????????????????????????Rest of (e)????????????????????????????????????? ???North America????????????????????????????????? ??????????Argentina????????????????????? ???????????????????Brazil??????????????? ?????????????????????????Rest of (e)????????????????????????????????????? ???South America????????????????????????????????? ??????????Egypt????????????????????????? ???????????????South Africa(e)??????????????????????????????? ?????????Rest of Africa(e)??????????????????????????????? ?????????Africa???????????????

10 ????????????????????????????Iran???????? ????????????????????????????????Qatar??? ?????????????????????????????????????Sau di Arabia(1)??????????????????????????????? ?????????UAE???????????????????????????? ????????????Rest of (e)????????????????????????????????????? ???Middle East???????????????????????????????????? ???????China???????????????????????????? ????????????India??????????????????????? ?????????????????Japan?????????????????? ??????????????????????South Korea??????????????????????????????????? ?????Taiwan????????????????????????????? ???????????Thailand????????????????????? ???????????????????Vietnam(e)??????????? ?????????????????????????????Rest of Asia(e)????????????????????????????????? ???????Asia????????????????????????????? ??????????????Oceania??????????????????? ???????????????????????? WORLD ??????????? ????????????????????????????????Source: worldsteel, SEAISI, & MEPS Notes: (e) estimate (f) forecast (1) HADEED onlyMEPS WORLD STEEL OUTLOOK Q2 - 2018 May 2018 Copyright 2018 by MEPS.