The David J. Joseph Company's
STEEL AND SCRAP RECAP
Sunday, January 17, 1999
A monthly recap of the latest steel and scrap industry statistics
          Change         Change  
  Current   This Last From     Last   From  
  Month   Year Year Last Yr     Month   Last Mo  
U.S. Steel Industry                      
                       
Raw Steel Production - 000's NT Dec-98 p 7,390 9,071 -19%     Nov-98 7,710 -4%  
  YTD   106,366 107,488 -1%            
                       
Rate of Capability Utilization (1) Dec-98 p 76.4 86.3 -9.9 pts   Nov-98 74.4 2.0 pts
  YTD   86.1 88.5 -2.4 pts          
                       
Mill Shipments - 000's NT Nov-98   7,382 8,467 -13%     Oct-98 8,257 -11%  
  YTD   95,253 96,311 -1%            
                       
Steel Imports - 000's NT Oct-98   4,110 2,631 56%     Sep-98 3,860 6%  
  YTD   34,628 26,708 30%            
                       
Steel Exports - 000's NT Oct-98   467 590 -21%     Sep-98 419 11%  
  YTD   4,762 5,044 -6%            
                       
Steel Orders - # weeks leadtime Nov-98   3.2 3.4 -6%     Oct-98 3.2 0%  
                       
World Steel/Scrap Industry                      
                       
World Steel Production - 000's NT Nov-98   66,165 72,981 -9%     Oct-98 69,509 -5%  
  YTD   773,250 787,358 -2%            
                       
Rotterdam Export, Shredded - $/Tonne fob (2) Jan-99   $93.50 $134.00 (40.50)     Dec-98 $93.50 0.00  
Rotterdam Export, HMS 1&2 - $/Tonne fob (2) Jan-99   $73.50 $115.00 (41.50)     Dec-98 $73.50 0.00  
                       
Korean Import, HMS 1 - $/Tonne c&f Dec-98   $94.00 $154.00 (60.00)     Nov-98 $93.50 0.50  
                       
U.S. Scrap Industry                      
                       
AMM #1HM Composite(3) - $ GT Jan-99   $78.88 $138.33 (59.45)     Dec-98 $73.13 5.75  
AMM Shredded Composite(4) - $ GT Jan-99   $97.75 $146.80 (49.05)     Dec-98 $91.65 6.10  
AMM Factory Bundle Composite (5) - $ GT Jan-99   $93.40 $174.82 (81.42)     Dec-98 $82.42 10.98  
                       
Mill Scrap Purchases - 000's NT Oct-98   3,450 4,045 -15%     Sep-98 3,483 -1%  
  YTD   37,995 39,231 -3%            
                       
Scrap Imports - 000's NT Oct-98   137 317 -57%     Sep-98 241 -43%  
  YTD   3,018 2,542 19%            
                       
Pig Iron Imports - 000's NT Oct-98   552 466 18%     Sep-98 529 4%  
  YTD   5,071 2,739 85%            
                       
DRI/HBI Imports - 000's NT Oct-98   140 130 8%     Sep-98 103 36%  
  YTD   1,107 973 14%            
                       
Scrap Exports - 000's NT Oct-98   385 704 -45%     Sep-98 480 -20%  
  YTD   5,118 8,402 -39%            
                       
U.S. Economy - General                      
                       
Leading Indicators Index Nov-98   0.6% 0.1% 0.5 pts   Oct-98 0.1% 0.5 pts