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https://staalx.com

December 5, 2022 - Founder and CEO's Article #5 below

News from the Market

https://www.staalx.com

Are steel prices finally bottoming out?

Flat rolled and Asian prices reverse course, will long products follow?

Market is finally seeing some signs of price improvement but rebars are far=
 from a robust increase. Some of the really depressed pricing, such as the =
Asian long products pricing and US flat rolled pricing started to go up. In=
 the US, flat rolled mills came up with a strong increase announcement of $=
60 /nt, and while initiallycustomers were skeptical, now they are accepting=
 some of the increases. HRC dipped below $30 cwt. just several weeks ago bu=
t now most of the low offers are withdrawn and the newprices are somewhere =
between $33 and 35 cwt.

This is still a lot less than where the rebar and wire rod pricestoday. Reb=
ars still enjoy mid 40's range which gets an amazingly $200 /short ton prem=
ium to HRC still today. Usually HRC gets a decent premium over rebars so th=
e whole pricing dynamic is quite bizarre and should be correcting sooner or=
 later.

Pessimists in the market will say that rebar pricing has to trend way down =
to equalize with HRC. On the other hand, the demand is still decent and sup=
ply is still quite restricted in rebars, which allows this sort of anomaly =
in the first place. One large concrete contractor told StaalX that they had=
 their largest backlog ever. Another concrete paver told StaalX they probab=
ly took more work than they could handle for the New Year. End users of reb=
ars definitely live in a different reality of the rebar wholesalers.

As far as spot pricing, StaalX rebar listing index retreated by 1.24% from =
last week, e.g. from $48.48 cwt to $47.88 cwt.

Demand side is not all that encouraging on the rod side. Buyers are still q=
uite reluctant to take on imports and are still drawing down inventories th=
at they deem too high. Their order books have already slimmed down some, bu=
t they may be over cautious not to get caught with high priced inventories,=
 as they did in the last six months.

Still, one more help is on the way for steel pricing from the raw materials=
 end. Scrap seems to be on the rebound in December, perhaps with a strong $=
20-30 ton range. The market can surely use a boost like that to get out of =
the rot it is currently in.

https://www.staalx.com

http://staalx.com Go to StaalX.com

http://steelorbis.com

From our content partner, SteelOrbis

US domestic rebar market looking for price floor

Wednesday, 30 November 2022 00:34:20 (GMT+3) | San Diego

With demand starting to see a seasonal slowdown in the US domestic rebar ma=
rket, sources tell SteelOrbis they are expecting spot prices to "find their=
 floor" before the end of the year. Once the market resumes after the holid=
ays in early January, some sources believe rebar prices will finally stabil=
ize barring some major economic event. Until then, spot prices are likely t=
o continue ticking downward.

This week, US domestic rebar spot prices are down another $0.50 cwt. ($11/m=
t or $10/nt), bringing the range for Midwest offers to $46.00-$47.00 cwt. (=
$1,014-$1,036/mt or $920-$940/nt) ex-mill. Offers on the East coast are now=
 at $47.00-$48.00 cwt. ($1,036-$1,058/mt or $940-$960/nt) ex-mill.

US import rebar prices still dropping

Tuesday, 29 November 2022 23:12:27 (GMT+3) | San Diego

Although buying activity within the US import rebar market is still relativ=
ely slow, lower offers have been heard in the market. Sources tell SteelOrb=
is that the price trend is still pointing definitively down, although some =
are starting to speculate about prices bouncing back a bit in the New Year-=
if so, sources say the next few weeks might be "the last best time to book =
import this year."

US import rebar offers from Algeria and Turkey are both down $1.00 cwt. ($2=
2/mt or $20/nt) this week, compared to our last report two weeks ago. Offer=
s from Algeria are now at $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt)=
 DDP loaded truck in US Gulf ports, while offers from Turkey are now at $40=
.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in US Gulf =
ports. Offers from Mexico, meanwhile, are down $1.50 cwt. ($33/mt or $30/nt=
) since our last report, with prices now ranging from $42.50-$43.50 cwt. ($=
$937-$959/mt or $$850-$870/nt) DDP Houston.

US wire rod price trend still pointing down

Friday, 02 December 2022 21:30:36 (GMT+3) | San Diego

Despite reports that US domestic wire rod mills are trying to keep prices f=
rom dropping too much further, the general spot price range continues to ti=
ck downward as the end of the year approaches. Seasonally tepid demand isn'=
t helping mill efforts, and even speculation of a sideways or possibly uptr=
end in US scrap prices this month hasn't moved the needle on sentiment.

Another problem, multiple sources point out, is the "rampant shorting" in o=
ffer prices within the market-offers that are "way too low to be believed" =
keep cropping up, making it hard to get a "good feel for real prices."

Nevertheless, spot prices are still lower this week compared to pre-Thanksg=
iving holiday levels. US domestic wire rod spot prices are now approximatel=
y $43.50-$44.50 cwt. ($959-$981/mt or $870-$890/nt) ex-mill, compared to th=
e last- reported range of $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/n=
t) ex-mill.

US scrap price predictions shift course in advance of December buy cycle=20

Thursday, 01 December 2022 23:43:10 (GMT+3) | San Diego

For the past several weeks, scrap market sources throughout the US said the=
y believed December prices had the potential to trend down for a variety of=
 reasons, such as mills' lagging capacity utilization rates, soft export pr=
ices, and continued downticks in finished steel prices.

This week, however, sellers have become more optimistic, and numerous sourc=
es polled said they feel an up market could be in play.

Their shift in sentiment is linked to several factors, including climbing U=
S export HMS I/II 80:20 cargo sales prices to Turkey (which climbed from $3=
39.50/mt CFR to $378/mt CFR in the span of two weeks) and this week's flurr=
y of flat rolled steel price increase announcements. Cleveland-Cliffs led t=
he charge on Monday when they rolled out a $3.00 cwt. ($66/mt or $60/nt) ac=
ross-the-board increase for HRC, CRC, and HDG coil. Other domestic mills, i=
ncluding US Steel and Nucor, have since followed.

"I think if mills try to take scrap down again now, when they're making eff=
orts to increase prices, that wouldn't pass the smell test," a source said,=
 noting that he thinks the market has the potential to stay sideways if not=
 firm by $10/gt across the board.

A source in the South said the conversations he's had have been largely sim=
ilar, although he believes that prime grades could be up $10-$20/gt with cu=
ts and shred coming in at sideways to up $10/gt.

Others agree that down pricing is now highly unlikely, and that "sideways p=
rices would be the worst-case scenario."

"I've heard [about the possibility of upward pricing] in several conversati=
ons I had this morning," another source added, noting he's heard some selle=
rs talk about a possible up $15-$20/gt on cut grades and up $30/gt on prime=
s. "It seems like there's going to be more demand than people thought and t=
here's some concerns about scrap inventory. If everyone waits until January=
 to buy, that could create issues in shipping [because there are still a lo=
t of issues when it comes to trucking, transportation, and logistics.]."

For example, yesterday news outlets reported that a still-possible strike b=
y the nation's railroad workers has the potential to create a wave of logis=
tical snarls. Although railroad union leaders, who are still seeking greate=
r flexibility in work schedules, more sick leave, and more compensation, pr=
eviously agreed to a deal that was brokered by the Biden Administration, fo=
ur of the 12 unions later rejected it.

Sources in the Ohio Valley also think that an uptick in pricing is more lik=
ely than not.

"I do think we'll see an uptick finally. I've heard that some mills in Ohio=
 and Western Pennsylvania may have programs that are larger than what they'=
ve had for the past several months," a source from that region said. "I als=
o think that secondary grades are relatively tight so depending how much la=
rger programs are we may see a small adjustment suffice or we could see a l=
arger correction. There are still too many unknowns but neither up $10/gt o=
r up $30/gt would surprise me."

The December buy cycle is expected to start on Monday of next week.

https://www.linkedin.com/in/murat-askin/

Perspectives from StaalX Founder and CEO
In this fourth article in the intimate series, Murat Askin talks about the =
ups and downs of steel trading industry and the genesis of ideas that creat=
ed StaalX.=20

https://www.linkedin.com/pulse/who-win-steel-e-commerce-race-murat-askin/ A=
rticleV:Who will win the steel e-commerce race?

https://www.linkedin.com/pulse/sailing-unknown-murat-askin/ Article IV: Sai=
ling into the Unknown
https://www.linkedin.com/posts/murat-askin_rebar-steel-steeltrading-activit=
y-6964596968417357826-DUGx?utm_source=3Dlinkedin_share&utm_medium=3Dmember_=
desktop_web Article III:Start walking, the path will appear
https://www.linkedin.com/posts/murat-askin_steeltrading-ecommerce-activity-=
6962229903756865537-jBPV?utm_source=3Dlinkedin_share&utm_medium=3Dmember_de=
sktop_web Article II: Trading Companies are like Crocodiles
https://www.linkedin.com/posts/murat-askin_steeltrading-ecommerce-activity-=
6959314884652134400-PR5P?utm_source=3Dlinkedin_share&utm_medium=3Dmember_de=
sktop_web Article I: SteelVillage.com -The beginning of chasing my dreams

https://event.steelorbis.com/en/rwr2023/

StaalX proudly sponsors SteelOrbis' Rebar Wire Rod conference on Monday, Ja=
nuary 16, 2023. This is the only steel focused even around the World of Con=
crete and can't miss networking opportunity for concrete reinforcing profes=
sionals. Click on the image below to register and find out more about this =
conference where our CEO Murat Askin will also attend as a speaker.

https://www.worldofconcrete.com/en/attendee.html

We look forward to meeting you at our N3104 booth to learn about your needs=
 and how StaalX can help you delivering competitive products when you need =
it

https://precast.org/theprecastshow/

We look forward to meeting you at our 812 booth at Precast Show held on Feb=
ruary 23th through 25th 2023 in Columbus, Ohio. Stop by to talk to one of o=
ur associates and check our website for your needs

Do you have any questions? Check out our FAQ

We know you have a lot of questions about StaalX and its revolutionary new =
services in the industry. Check out the most frequently asked questions abo=
ut the service and products of StaalX and we are always here to chat with y=
ou on the chat boxes from the site or on the support telephone number below=
.

https://staalx.com/faqs FAQs

Contact us
support@staalx.com or +1 (708) 697-3227
Follow StaalX On

https://www.twitter.com/rebarrevolution
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=09=20

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789" style=3D";word-wrap:break-word;overflow:hidden;background-color:#f8f9f=
b;">
=09=09=09=09=09
=09=09=09=09=09 <table bgcolor=3D"#f8f9fb" border=3D"0" cellpadding=3D"0" c=
ellspacing=3D"0" class=3D"zpAlignPos" style=3D"padding:0px;border:0px;borde=
r-collapse:collapse; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0=
pt;word-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;height:11px;" width=3D"100%">

=09                        <tbody><tr><td style=3D"padding:0px;border:0px;f=
ont-size:5px;height:11px;border-top:none none none;border-bottom:none none =
none;">

=09                        &nbsp;&nbsp;&nbsp;

=09                        </td></tr>

=09                </tbody></table>

=09          </div>

</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1596451104787" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09    =09<table bgcolor=3D"#000000" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" style=3D"font-size:12px;border:0px;padding:0px;width:100%;border=
-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:b=
reak-word;background-color:#000000;">
=09    <tbody><tr>
=09=09<td class=3D"txtsize" style=3D"border:0px;padding:0px 0px;border-top:=
0px none #ffffff ;border-bottom:0px none #ffffff;">
            =09<div class=3D"zpelement-wrapper image" coupcmp id=3D"elm_159=
6451104787" prodcmp style=3D";word-wrap:break-word;overflow:hidden;padding:=
0px;background-color:#000000;">
=09=09=09<div>
=09=09        <table align=3D"left" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;text-align:left;padd=
ing:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt; mso-tabl=
e-rspace:0pt;word-break:break-word;width:100%;text-align:left;">
                    <tbody><tr><td class=3D"bannerimgpad" style=3D"border:0=
px;padding:0px;text-align:center;padding-top:0px;padding-bottom:0px;padding=
-right:0px;padding-left:0px;">
=09=09=09<a href=3D"https://qprdy-zgph.maillist-manage.com/click.zc?m=3D1&m=
rd=3D1c08f772a33413a7&od=3D3zbbfd3107516e2747240afb213f83dea99f3114ab6bc113=
15f109b5f5525d0f45&linkDgs=3D1c08f772a3340b56&repDgs=3D1c08f772a3340118" st=
yle=3D"text-decoration:underline;border:0px;" target=3D"_blank" zcurl_name=
=3D"l_1">
=09=09=09<img align=3D"left" alt=3D"https://campaign-image.com/zohocampaign=
s/133052000002540006_zc_v52_logo_bs_2.png" class=3D"zpImage" height=3D"auto=
" hspace=3D"0" size=3D"B" src=3D"https://campaign-image.com/zohocampaigns/7=
69016653/inkcanva_867215000002057608.png" style=3D"width:600px;height:autop=
x;max-width:600px !important;border:0px;text-align:left;" title vspace=3D"0=
" width=3D"600">
=09=09=09</a>
=09=09=09</td></tr>
=09=09=09<tr><td class=3D"txtsize" style=3D"border:0px;padding:0px;text-ali=
gn:left;margin:0px auto;" width=3D"600">
                <div class=3D"zpImageCaption" style=3D"text-align:center;ma=
rgin:0px auto;padding:0px;"></div>
=09=09=09</td></tr></tbody></table>
=09=09</div>
            </div>
            </td></tr></tbody></table>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1657495827067" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1657495827067" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:#ffffff;">
=09    =09<table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;padding:0px;border:=
0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;wo=
rd-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 10=
0%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;paddin=
g:7px 15px;line-height:19pt;border-top:0px none ;   border-bottom:0px none =
;padding-top:0px;padding-bottom:0px;padding-right:15px;padding-left:15px;">
             =09    =09=09<div componentbgcolor=3D"#ffffff" componentpaddin=
gbottom=3D"0px" componentpaddingleft=3D"15px" componentpaddingright=3D"15px=
" componentpaddingtop=3D"0px" style=3D"background-color: rgb(255, 255, 255)=
;"><p align=3D"center" style=3D"font-family:Arial,verdana;font-size:12px; c=
olor:#000000;padding:0px;margin: 0;line-height: 25pt; text-align: center;">=
<font face=3D"Arial, Helvetica" style=3D"font-size: 9pt;"><i>December 5, 20=
22 &nbsp;-&nbsp; <a alt=3D"Founder and CEO's Article #4 below" href=3D"#MA_=
Section" style=3D"text-decoration:underline;" target=3D"_self" title=3D"Fou=
nder and CEO's Article #4 below"><font color=3D"#0001ee" style=3D"color:#00=
01ee;">Founder and CEO's Article #5 below</font></a></i></font></p></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1657637534899" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1657637534899" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:;">
=09    =09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"=
zpAlignPos" style=3D"font-size:12px;padding:0px;border:0px;border-collapse:=
collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;=
-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;paddin=
g:7px 15px;line-height:25pt;border-top:0px none ;   border-bottom:0px none =
;padding-top:10px;padding-bottom:15px;padding-right:15px;padding-left:15px;=
">
             =09    =09=09<div componentlineheight=3D"25pt" componentpaddin=
gbottom=3D"15px" componentpaddingleft=3D"15px" componentpaddingright=3D"15p=
x" componentpaddingtop=3D"10px" style><p align=3D"left" style=3D"line-heigh=
t:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;m=
argin: 0;text-align: left; line-height: 25pt;"><font face=3D"Arial, Helveti=
ca" style=3D"font-size: 24pt; line-height: 25pt;"><b>News from the Market</=
b></font></p></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1584961354868" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09    =09<table bgcolor=3D"transparent" border=3D"0" cellpadding=3D"0" cel=
lspacing=3D"0" style=3D"font-size:12px;border:0px;padding:0px;width:100%;bo=
rder-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-bre=
ak:break-word;background-color:transparent;">
=09    <tbody><tr>
=09=09<td class=3D"txtsize" style=3D"border:0px;padding:0px 0px;border-top:=
none none none ;border-bottom:none none none;">
            =09<div class=3D"zpelement-wrapper image" coupcmp id=3D"elm_158=
4961354868" prodcmp style=3D";word-wrap:break-word;overflow:hidden;padding:=
0px;background-color:transparent;">
=09=09=09<div>
=09=09        <table align=3D"left" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;text-align:left;widt=
h:100%;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0p=
t; mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:left;">
            =09=09<tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;=
padding:7px 15px;text-align:center;padding-top:7px;padding-bottom:7px;paddi=
ng-right:15px;padding-left:15px;">
=09=09=09<a href=3D"https://qprdy-zgph.maillist-manage.com/click.zc?m=3D1&m=
rd=3D1c08f772a33413a7&od=3D3zbbfd3107516e2747240afb213f83dea99f3114ab6bc113=
15f109b5f5525d0f45&linkDgs=3D1c08f772a3340b58&repDgs=3D1c08f772a3340118" st=
yle=3D"text-decoration:underline;border:0px;" target=3D"_blank" zcurl_name=
=3D"l_3">
=09=09=09<img align=3D"left" alt=3D"https://campaign-image.com/zohocampaign=
s/867215000005232103_zc_v4_1662951337505__qweqqmpbpu.jpeg" class=3D"zpImage=
" height=3D"auto" hspace=3D"0" size=3D"F" src=3D"https://zohopublic.com/zoh=
ocampaigns/867215000005232103_zc_v9_1670268801078_istockphoto_163521033_612=
x612.jpg" style=3D"width:570px;height:autopx;max-width:570px !important;bor=
der:0px;text-align:left;" vspace=3D"0" width=3D"570">
=09=09=09</a>
=09=09=09</td></tr>
=09=09=09<tr><td class=3D"txtsize" style=3D"border:0px;padding:0px;text-ali=
gn:left;margin:0px auto;" width=3D"570">
                <div class=3D"zpImageCaption" style=3D"text-align:center;ma=
rgin:0px auto;padding:0px;"></div>
=09=09=09</td></tr></tbody></table>
=09=09</div>
            </div>
            </td></tr></tbody></table>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1657640776197" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1657640776197" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:#ffffff;">
=09    =09<table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;padding:0px;border:=
0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;wo=
rd-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 10=
0%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;paddin=
g:7px 15px;line-height:19pt;border-top:0px none ;   border-bottom:0px none =
;padding-top:15px;padding-bottom:10px;padding-right:15px;padding-left:15px;=
">
             =09    =09=09<div componentbgcolor=3D"#ffffff" componentpaddin=
gbottom=3D"10px" componentpaddingleft=3D"15px" componentpaddingright=3D"15p=
x" componentpaddingtop=3D"15px" style=3D"background-color: rgb(255, 255, 25=
5);"><p align=3D"left" style=3D"font-family:Arial,verdana;font-size:12px; c=
olor:#000000;padding:0px;margin: 0;line-height: 25pt; text-align: left;"><f=
ont face=3D"Arial, Helvetica" style=3D"font-size: 16pt;"><b></b></font></p>=
<span><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;p=
adding:0px;margin: 0;line-height: 19pt; text-align: left;"><font color=3D"#=
333333" face=3D"Arial, Helvetica" style=3D"color: rgb(51, 51, 51);"><b styl=
e></b></font></p><p style=3D"font-family:Arial,verdana;font-size:12px; colo=
r:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font=
 color=3D"#333333" face=3D"Arial, Helvetica" style=3D"color: rgb(51, 51, 51=
);"><b style><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"col=
or: rgb(51, 51, 51); font-size: 16pt;"></font></b></font></p><span><p style=
=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;line-height: 19pt; text-align: left;"><font color=3D"#333333" face=
=3D"Arial, Helvetica" style=3D"color: rgb(51, 51, 51); font-size: 16pt;"><b=
><span><span></span></span></b></font></p><span><font style><b style><p sty=
le=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;m=
argin: 0;line-height: 19pt; text-align: left;"><font color=3D"#333333" face=
=3D"Arial, Helvetica" style=3D"color: rgb(51, 51, 51); font-size: 14pt;"></=
font></p><span><font style><span>

<b><span><font><span><span></span></span></font></span></b></span></font><s=
pan><font style=3D"font-size: 14pt;">

<span>Are steel prices finally bottoming out?&nbsp;</span></font>

</span><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;=
padding:0px;margin: 0;line-height: 19pt; text-align: left;"><br></p></span>=
</b></font></span></span><p style=3D"margin: 0;padding: 0px;font-family:Ari=
al, Helvetica, sans-serif; color:#000000;line-height:1.7;font-family:Arial,=
verdana;font-size:12px;padding:0px;"></p></span><p style=3D"font-family:Ari=
al,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height:=
 19pt; text-align: left;"><font face=3D"Arial, Helvetica" style=3D"font-siz=
e: 16pt;"><b><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"fon=
t-size: 12pt;color:#333333;"><font color=3D"#333333" face=3D"Arial, Helveti=
ca" style=3D"font-size: 12pt;color:#333333;"><span></span></font></font></b=
></font></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#00=
0000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=
=3D"Arial, Helvetica" style=3D"font-size: 16pt;"><b><font color=3D"#333333"=
 face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"><font c=
olor=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#=
333333;"><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-si=
ze: 12pt;color:#333333;"><span></span></font></font></font></b></font></p><=
p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:=
0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D"Arial, He=
lvetica" style=3D"font-size: 16pt;"><b><font color=3D"#333333" face=3D"Aria=
l, Helvetica" style=3D"font-size: 12pt;color:#333333;"><font color=3D"#3333=
33" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"><fon=
t color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;colo=
r:#333333;"><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font=
-size: 12pt;color:#333333;"><span></span></font></font></font></font></b></=
font></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#00000=
0;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D=
"Arial, Helvetica" style=3D"font-size: 16pt;"><b><font color=3D"#333333" fa=
ce=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"><font colo=
r=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333=
333;"><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size:=
 12pt;color:#333333;"><font color=3D"#333333" face=3D"Arial, Helvetica" sty=
le=3D"font-size: 12pt;color:#333333;"><span><span></span></span></font></fo=
nt></font></font></b></font></p><p style=3D"font-family:Arial,verdana;font-=
size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-alig=
n: left;"><font face=3D"Arial, Helvetica" style=3D"font-size: 16pt;"><b><fo=
nt color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;col=
or:#333333;"><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"fon=
t-size: 12pt;color:#333333;"><font color=3D"#333333" face=3D"Arial, Helveti=
ca" style=3D"font-size: 12pt;color:#333333;"><font color=3D"#333333" face=
=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"><span></span=
></font></font></font></font></b></font></p><p style=3D"font-family:Arial,v=
erdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19p=
t; text-align: left;"><font face=3D"Arial, Helvetica" style=3D"font-size: 1=
6pt;"><b><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font f=
ace=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font face=3D"Arial, He=
lvetica" style=3D"font-size: 12pt;"><font face=3D"Arial, Helvetica" style=
=3D"font-size: 12pt;">

<b style><font style><font style><font style><font style><span>

<span>Flat rolled and Asian prices reverse course, will long products follo=
w?</span>

</span></font></font></font></font></b>

</font></font></font></font></b></font></p><p style=3D"margin: 0;padding: 0=
px;font-family:Arial, Helvetica, sans-serif; color:#000000;line-height:1.7;=
font-family:Arial,verdana;font-size:12px;padding:0px;"></p><p style=3D"marg=
in: 0;padding: 0px;font-family:Arial, Helvetica, sans-serif; color:#000000;=
line-height:1.7;font-family:Arial,verdana;font-size:12px;padding:0px;"></p>=
<p style=3D"margin: 0;padding: 0px;font-family:Arial, Helvetica, sans-serif=
; color:#000000;line-height:1.7;font-family:Arial,verdana;font-size:12px;pa=
dding:0px;"></p><p style=3D"margin: 0;padding: 0px;font-family:Arial, Helve=
tica, sans-serif; color:#000000;line-height:1.7;font-family:Arial,verdana;f=
ont-size:12px;padding:0px;"></p><p style=3D"margin: 0;padding: 0px;font-fam=
ily:Arial, Helvetica, sans-serif; color:#000000;line-height:1.7;font-family=
:Arial,verdana;font-size:12px;padding:0px;"></p><p style=3D"margin: 0;paddi=
ng: 0px;font-family:Arial, Helvetica, sans-serif; color:#000000;line-height=
:1.7;font-family:Arial,verdana;font-size:12px;padding:0px;"></p><p style=3D=
"margin: 0;padding: 0px;font-family:Arial, Helvetica, sans-serif; color:#00=
0000;line-height:1.7;font-family:Arial,verdana;font-size:12px;padding:0px;"=
></p></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1657637534902" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1657637534902" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:;">
=09    =09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"=
zpAlignPos" style=3D"font-size:12px;padding:0px;border:0px;border-collapse:=
collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;=
-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;paddin=
g:7px 15px;line-height:17pt;border-top:0px none ;   border-bottom:0px none =
;padding-top:5px;padding-bottom:5px;padding-right:15px;padding-left:15px;">
             =09    =09=09<div componentlineheight=3D"17pt" componentpaddin=
gbottom=3D"5px" componentpaddingleft=3D"15px" componentpaddingright=3D"15px=
" componentpaddingtop=3D"5px" style><p align=3D"justify" style=3D"line-heig=
ht:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;=
margin: 0;text-align: justify; line-height: 17pt;"><font color=3D"#333333" =
face=3D"Arial, Helvetica" style=3D"color: rgb(51, 51, 51); font-size: 12pt;=
 line-height: 17pt;"><span style=3D"line-height: 17pt;"></span></font></p><=
p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color:=
#000000;padding:0px;margin: 0;text-align: left; line-height: 17pt;"><font c=
olor=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt; line-h=
eight: 17pt;"><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"fo=
nt-size: 12pt; line-height: 17pt;"></font></font></p><span><p style=3D"font=
-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;l=
ine-height: 19pt; text-align: left;"><font color=3D"#333333" face=3D"Arial,=
 Helvetica" style=3D"font-size: 12pt;color:#333333;"></font></p><span><p st=
yle=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;=
margin: 0;line-height: 19pt; text-align: left;"><font color=3D"#333333" fac=
e=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"></font></p>=
<span><span><font style=3D"font-size: 12pt;"></font></span><span><p style=
=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;line-height: 19pt; text-align: left;"><font color=3D"#333333" face=
=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"></font></p><=
/span><span><p style=3D"font-family:Arial,verdana;font-size:12px; color:#00=
0000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font colo=
r=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333=
333;"></font></p><span><p style=3D"font-family:Arial,verdana;font-size:12px=
; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"=
><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt=
;color:#333333;"></font></p></span></span><span><p style=3D"font-family:Ari=
al,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height:=
 19pt; text-align: left;"><font color=3D"#333333" face=3D"Arial, Helvetica"=
 style=3D"font-size: 12pt;color:#333333;"></font></p><span>

<font style=3D"font-size: 12pt;"><span><font></font></span></font><span>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D"Arial, H=
elvetica" style=3D"font-size: 12pt;">Market is finally seeing some signs of=
 price improvement but rebars are far from a robust increase.&nbsp; Some of=
 the really depressed pricing, such as the Asian long products pricing and =
US flat rolled pricing started to go up.&nbsp; In the US, flat rolled mills=
 came up with a strong increase announcement of $60 /nt, and while initiall=
y&nbsp;customers were skeptical, now they are accepting some of the increas=
es.&nbsp; HRC dipped below $30 cwt. just several weeks ago but now most of =
the low offers are withdrawn and the new&nbsp;prices are somewhere between =
$33 and 35 cwt.&nbsp;&nbsp;</font></p><p style=3D"font-family:Arial,verdana=
;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; tex=
t-align: left;"><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;">=
<br></font></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:=
#000000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font f=
ace=3D"Arial, Helvetica" style=3D"font-size: 12pt;">This is still a lot les=
s than where the rebar and wire rod prices&nbsp;today.&nbsp; Rebars still e=
njoy mid 40's range which gets an amazingly $200 /short ton premium to HRC =
still today.&nbsp; Usually HRC gets a decent premium over rebars so the who=
le pricing dynamic is quite bizarre and should be correcting sooner or late=
r.&nbsp;&nbsp;</font></p><p style=3D"font-family:Arial,verdana;font-size:12=
px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: left=
;"><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><br></font></=
p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;paddi=
ng:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D"Arial,=
 Helvetica" style=3D"font-size: 12pt;">Pessimists in the market will say th=
at rebar pricing has to trend way down to equalize with HRC.&nbsp; On the o=
ther hand, the demand is still decent and supply is still quite restricted =
in rebars, which allows this sort of anomaly in the first place.&nbsp; One =
large concrete contractor told StaalX that they had their largest backlog e=
ver.&nbsp; Another concrete paver told StaalX they probably took more work =
than they could handle for the New Year.&nbsp; End users of rebars definite=
ly live in a different reality of the rebar wholesalers.&nbsp;&nbsp;</font>=
</p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;pad=
ding:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D"Aria=
l, Helvetica" style=3D"font-size: 12pt;"><br></font></p><p style=3D"font-fa=
mily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line=
-height: 19pt; text-align: left;"><font face=3D"Arial, Helvetica" style=3D"=
font-size: 12pt;">As far as spot pricing, StaalX rebar listing index retrea=
ted by 1.24% from last week, e.g. from $48.48 cwt to $47.88 cwt.&nbsp;&nbsp=
;</font></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#00=
0000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=
=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><br></font></p><p style=3D=
"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin=
: 0;line-height: 19pt; text-align: left;"><font face=3D"Arial, Helvetica" s=
tyle=3D"font-size: 12pt;">Demand side is not all that encouraging on the ro=
d side.&nbsp; Buyers are still quite reluctant to take on imports and are s=
till drawing down inventories that they deem too high.&nbsp; Their order bo=
oks have already slimmed down some, but they may be over cautious not to ge=
t caught with high priced inventories, as they did in the last six months.&=
nbsp;&nbsp;</font></p><p style=3D"font-family:Arial,verdana;font-size:12px;=
 color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: left;">=
<font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><br></font></p><=
p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:=
0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D"Arial, He=
lvetica" style=3D"font-size: 12pt;">Still, one more help is on the way for =
steel pricing from the raw materials end.&nbsp; Scrap seems to be on the re=
bound in December, perhaps with a strong $20-30 ton range.&nbsp; The market=
 can surely use a boost like that to get out of the rot it is currently in.=
</font></p>

</span><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;=
padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D"A=
rial, Helvetica" style><font style=3D"font-size: 12pt;"></font></font></p>

</span><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;=
padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font color=3D"=
#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"=
>&nbsp;</font></p><p style=3D"font-family:Arial,verdana;font-size:12px; col=
or:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><fon=
t color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;colo=
r:#333333;"></font></p></span><span><p style=3D"font-family:Arial,verdana;f=
ont-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-=
align: left;"><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"fo=
nt-size: 12pt;color:#333333;"><font><b>&nbsp;</b></font></font></p></span><=
p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:=
0px;margin: 0;line-height: 19pt; text-align: left;"><font color=3D"#333333"=
 face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"></font>=
</p></span><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000=
000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font color=
=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#3333=
33;"></font></p></span><p style=3D"font-family:Arial,verdana;font-size:12px=
; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"=
><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt=
;color:#333333;"></font></p></span><font color=3D"#333333" face=3D"Arial, H=
elvetica" style=3D"font-size: 12pt; line-height: 17pt;"><p style=3D"line-he=
ight:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0p=
x;margin: 0;text-align: left; line-height: 17pt;"><font face=3D"Arial, Helv=
etica" style=3D"font-size: 12pt; line-height: 17pt;"><font style=3D"line-he=
ight: 17pt;"></font></font></p></font><p style=3D"font-family:Arial,verdana=
;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"></=
p></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1669644918084" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09    =09<table bgcolor=3D"transparent" border=3D"0" cellpadding=3D"0" cel=
lspacing=3D"0" style=3D"font-size:12px;border:0px;padding:0px;width:100%;bo=
rder-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-bre=
ak:break-word;background-color:transparent;">
=09    <tbody><tr>
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none none none ;border-bottom:none none none;">
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9644918084" prodcmp style=3D";word-wrap:break-word;overflow:hidden;padding:=
0px;background-color:transparent;">
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=09=09        <table align=3D"left" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;text-align:left;widt=
h:100%;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0p=
t; mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:left;">
            =09=09<tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;=
padding:7px 15px;text-align:center;padding-top:7px;padding-bottom:7px;paddi=
ng-right:15px;padding-left:15px;">
=09=09=09<a href=3D"https://qprdy-zgph.maillist-manage.com/click.zc?m=3D1&m=
rd=3D1c08f772a33413a7&od=3D3zbbfd3107516e2747240afb213f83dea99f3114ab6bc113=
15f109b5f5525d0f45&linkDgs=3D1c08f772a3340b5a&repDgs=3D1c08f772a3340118" st=
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=09=09=09<img align=3D"left" alt=3D"https://campaign-image.com/zohocampaign=
s/867215000005232103_zc_v4_1662951337505__qweqqmpbpu.jpeg" class=3D"zpImage=
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eft;" vspace=3D"0" width=3D"570">
=09=09=09</a>
=09=09=09</td></tr>
=09=09=09<tr><td class=3D"txtsize" style=3D"border:0px;padding:0px;text-ali=
gn:left;margin:0px auto;" width=3D"570">
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ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09=09=09
=09=09 =09       =20
=09=09           =20
=09=09 =20



















=09<table bgcolor=3D"transparent" cellpadding=3D"0" cellspacing=3D"0" heigh=
t=3D"48" style=3D"font-size:12px;border:0px;border-collapse:collapse; mso-t=
able-lspace:0pt; mso-table-rspace:0pt;border:none;" width=3D"100%">
        <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;padding:7p=
x 15px;border-top:none none none;border-bottom:none none none;padding-top:7=
px;padding-bottom:7px;padding-right:15px;padding-left:15px;">
        <div class=3D"zpelement-wrapper buttonElem" id=3D"elm_1657637534906=
" style=3D"overflow:hidden;word-wrap:break-word;">
=09    <div class=3D"zpAlignPos" style=3D"text-align:center;">
                <table align=3D"center" cellpadding=3D"0" cellspacing=3D"0"=
 style=3D"font-size:12px;border:none;padding:0px;border:0px;margin:0px auto=
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                <tbody><tr>
                   <td align=3D"center" class=3D"txtsize" style=3D"border:0=
px;padding:0px;color:#ffffff;font-family:Arial;text-align:center;border-rad=
ius:4px;text-align:center;cursor:pointer;">
                         <!--[if mso]>
=09=09=09=09=09          <v:roundrect xmlns:v=3D"urn:schemas-microsoft-com:=
vml" xmlns:w=3D"urn:schemas-microsoft-com:office:word" href=3D"https://qprd=
y-zgph.maillist-manage.com/click.zc?m=3D1&mrd=3D1c08f772a33413a7&od=3D3zbbf=
d3107516e2747240afb213f83dea99f3114ab6bc11315f109b5f5525d0f45&linkDgs=3D1c0=
8f772a3340b5c&repDgs=3D1c08f772a3340118" style=3D"border-radius:4px;height:=
40px;v-text-anchor:middle;width:203px" arcsize=3D"4%" strokecolor=3D"#fffff=
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=09=09=09=09=09            <center style=3D"direction:ltr;color:#ffffff;fon=
t-family:Arial;font-size:11pt;">Go to StaalX.com</center>
=09=09=09=09=09          </v:roundrect>
        =09=09=09=09<![endif]-->
                        <a align=3D"center" href=3D"https://qprdy-zgph.mail=
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=09=09=09=09=09=09=09<font style=3D"color:#ffffff;line-height:40px">
                     =09=09   Go to StaalX.com
=09=09=09=09=09=09=09</font>
                        </a>
                    </td>
                </tr>
                </tbody></table>
            </div>
=09</div>
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gin: 0;text-align: left; line-height: 25pt;"><font face=3D"Arial, Helvetica=
" style=3D"font-size: 16pt; line-height: 25pt;"><b>From our content partner=
, SteelOrbis</b></font></p></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1651460503353" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1651460503353" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:;">
=09    =09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"=
zpAlignPos" style=3D"font-size:12px;padding:0px;border:0px;border-collapse:=
collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;=
-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;paddin=
g:7px 15px;line-height:17pt;border-top:0px none ;   border-bottom:0px none =
;padding-top:7px;padding-bottom:7px;padding-right:15px;padding-left:15px;">
             =09    =09=09<div componentlineheight=3D"17pt" style><div><spa=
n><font style=3D"font-size: 12pt;"><b></b></font></span></div><b><font styl=
e></font></b><font style><b></b></font>

<font><b><font style></font></b></font><font style=3D"font-size: 12pt;"><b>=
US domestic rebar market looking for price floor&nbsp;</b></font><div><br><=
/div><div><font style=3D"font-size: 12pt;">Wednesday, 30 November 2022 00:3=
4:20 (GMT+3) | San Diego&nbsp;</font></div><div><font style=3D"font-size: 1=
2pt;"><br></font></div><div><font style=3D"font-size: 12pt;">With demand st=
arting to see a seasonal slowdown in the US domestic rebar market, sources =
tell SteelOrbis they are expecting spot prices to &quot;find their floor&qu=
ot; before the end of the year. Once the market resumes after the holidays =
in early January, some sources believe rebar prices will finally stabilize =
barring some major economic event. Until then, spot prices are likely to co=
ntinue ticking downward.&nbsp;</font></div><div><font style=3D"font-size: 1=
2pt;"><br></font></div><div><font style=3D"font-size: 12pt;">This week, US =
domestic rebar spot prices are down another $0.50 cwt. ($11/mt or $10/nt), =
bringing the range for Midwest offers to $46.00-$47.00 cwt. ($1,014-$1,036/=
mt or $920-$940/nt) ex-mill. Offers on the East coast are now at $47.00-$48=
.00 cwt. ($1,036-$1,058/mt or $940-$960/nt) ex-mill.</font><p style=3D"font=
-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;l=
ine-height: 19pt; text-align: left;"><font face=3D"Arial, Helvetica" style=
=3D"font-size: 12pt;"><font style><font color=3D"#333333"></font></font></f=
ont></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000=
;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font color=3D=
"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;=
"><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12p=
t;color:#333333;"><font></font></font></font></p><p style=3D"font-family:Ar=
ial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height=
: 19pt; text-align: left;"><font color=3D"#333333" face=3D"Arial, Helvetica=
" style=3D"font-size: 12pt;color:#333333;"><font color=3D"#333333" face=3D"=
Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"><font color=3D"#=
333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;">=
<font><font></font><font></font></font></font></font></font></p><p style=3D=
"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin=
: 0;line-height: 19pt; text-align: left;"><font color=3D"#333333" face=3D"A=
rial, Helvetica" style=3D"font-size: 12pt;color:#333333;"><font color=3D"#3=
33333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"><=
font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;c=
olor:#333333;"><font><font><font color=3D"#333333" face=3D"Arial, Helvetica=
" style=3D"font-size: 12pt;color:#333333;"><font><br></font></font></font><=
/font></font></font></font></p><p style=3D"font-family:Arial,verdana;font-s=
ize:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align=
: left;"><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font f=
ace=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font style><font style=
><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font style><b =
style></b></font></font></font></font></font></font></p><span><font style=
=3D"font-size: 12pt;"><b>US import rebar prices still dropping&nbsp;</b></f=
ont></span></div><div><span><font style=3D"font-size: 12pt;"><br></font></s=
pan></div><div><span><font style=3D"font-size: 12pt;">Tuesday, 29 November =
2022 23:12:27 (GMT+3) | San Diego&nbsp;</font></span></div><div><span><font=
 style=3D"font-size: 12pt;"><br></font></span></div><div><span><font style=
=3D"font-size: 12pt;">Although buying activity within the US import rebar m=
arket is still relatively slow, lower offers have been heard in the market.=
 Sources tell SteelOrbis that the price trend is still pointing definitivel=
y down, although some are starting to speculate about prices bouncing back =
a bit in the New Year-if so, sources say the next few weeks might be &quot;=
the last best time to book import this year.&quot;&nbsp;</font></span></div=
><div><span><font style=3D"font-size: 12pt;"><br></font></span></div><div><=
span><font style=3D"font-size: 12pt;">US import rebar offers from Algeria a=
nd Turkey are both down $1.00 cwt. ($22/mt or $20/nt) this week, compared t=
o our last report two weeks ago. Offers from Algeria are now at $39.50-$40.=
50 cwt. ($871-$893/mt or $790-$810/nt) DDP loaded truck in US Gulf ports, w=
hile offers from Turkey are now at $40.50-$41.50 cwt. ($893-$915/mt or $810=
-$830/nt) DDP loaded truck in US Gulf ports. Offers from Mexico, meanwhile,=
 are down $1.50 cwt. ($33/mt or $30/nt) since our last report, with prices =
now ranging from $42.50-$43.50 cwt. ($$937-$959/mt or $$850-$870/nt) DDP Ho=
uston.</font></span><p style=3D"font-family:Arial,verdana;font-size:12px; c=
olor:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><f=
ont face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font face=3D"Aria=
l, Helvetica" style=3D"font-size: 12pt;"><font style><font style><font face=
=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font style><br></font></f=
ont></font></font></font></font></p><p style=3D"font-family:Arial,verdana;f=
ont-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-=
align: left;"><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"fo=
nt-size: 12pt;color:#333333;"><font color=3D"#333333" face=3D"Arial, Helvet=
ica" style=3D"font-size: 12pt;color:#333333;"><font><font><font color=3D"#3=
33333" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"><=
font><br></font></font></font></font></font></font></p><p style=3D"font-fam=
ily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-=
height: 19pt; text-align: left;"><font color=3D"#333333" face=3D"Arial, Hel=
vetica" style=3D"font-size: 12pt;color:#333333;"><font color=3D"#333333" fa=
ce=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#333333;"><font><fon=
t><font color=3D"#333333" face=3D"Arial, Helvetica" style=3D"font-size: 12p=
t;color:#333333;"><font><b></b></font></font></font></font></font></font></=
p><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font face=3D"=
Arial, Helvetica" style=3D"font-size: 12pt;"><font><font><b></b></font><b><=
/b></font></font><p style=3D"margin: 0;padding: 0px;font-family:Arial, Helv=
etica, sans-serif; color:#000000;line-height:1.7;font-family:Arial,verdana;=
font-size:12px;padding:0px;"></p><font style><b style></b></font></font><sp=
an><font style=3D"font-size: 12pt;"><b>US wire rod price trend still pointi=
ng down&nbsp;</b></font></span></div><div><span><font style=3D"font-size: 1=
2pt;"><br></font></span></div><div><span><font style=3D"font-size: 12pt;">F=
riday, 02 December 2022 21:30:36 (GMT+3) | San Diego&nbsp;</font></span></d=
iv><div><span><font style=3D"font-size: 12pt;"><br></font></span></div><div=
><font style=3D"font-size: 12pt;">Despite reports that US domestic wire rod=
 mills are trying to keep prices from dropping too much further, the genera=
l spot price range continues to tick downward as the end of the year approa=
ches. Seasonally tepid demand isn't helping mill efforts, and even speculat=
ion of a sideways or possibly uptrend in US scrap prices this month hasn't =
moved the needle on sentiment.&nbsp;</font></div><div><font style=3D"font-s=
ize: 12pt;"><br></font></div><div><font style=3D"font-size: 12pt;">Another =
problem, multiple sources point out, is the &quot;rampant shorting&quot; in=
 offer prices within the market-offers that are &quot;way too low to be bel=
ieved&quot; keep cropping up, making it hard to get a &quot;good feel for r=
eal prices.&quot;&nbsp;</font></div><div><font style=3D"font-size: 12pt;"><=
br></font></div><div><font style=3D"font-size: 12pt;">Nevertheless, spot pr=
ices are still lower this week compared to pre-Thanksgiving holiday levels.=
 US domestic wire rod spot prices are now approximately $43.50-$44.50 cwt. =
($959-$981/mt or $870-$890/nt) ex-mill, compared to the last- reported rang=
e of $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt) ex-mill.</font><p =
style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0p=
x;margin: 0;line-height: 19pt; text-align: left;"><font face=3D"Arial, Helv=
etica" style=3D"font-size: 12pt;"><font></font></font></p><p style=3D"font-=
family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;li=
ne-height: 19pt; text-align: left;"><font face=3D"Arial, Helvetica" style=
=3D"font-size: 12pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: 1=
2pt;"><font></font></font></font></p><p style=3D"font-family:Arial,verdana;=
font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text=
-align: left;"><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><=
font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font face=3D"Ari=
al, Helvetica" style=3D"font-size: 12pt;"></font></font></font></p><p style=
=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;line-height: 19pt; text-align: left;"><font face=3D"Arial, Helvetica=
" style=3D"font-size: 12pt;"><font face=3D"Arial, Helvetica" style=3D"font-=
size: 12pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><fo=
nt face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font></font></font=
></font></font></font></p><p style=3D"font-family:Arial,verdana;font-size:1=
2px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: lef=
t;"><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font face=
=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><font face=3D"Arial, Helve=
tica" style=3D"font-size: 12pt;"><font><font face=3D"Arial, Helvetica" styl=
e=3D"font-size: 12pt;"><br></font></font></font></font></font></p><p style=
=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;line-height: 19pt; text-align: left;"><font face=3D"Arial, Helvetica=
" style=3D"font-size: 12pt;"><font face=3D"Arial, Helvetica" style=3D"font-=
size: 12pt;"><font><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt=
;"><font><b></b></font></font></font></font></font></p><font face=3D"Arial,=
 Helvetica" style=3D"font-size: 12pt;"><font face=3D"Arial, Helvetica" styl=
e=3D"font-size: 12pt;"><font><b></b></font></font><p style=3D"margin: 0;pad=
ding: 0px;font-family:Arial, Helvetica, sans-serif; color:#000000;line-heig=
ht:1.7;font-family:Arial,verdana;font-size:12px;padding:0px;"></p><font><b>=
</b></font></font><p style=3D"margin: 0;padding: 0px;font-family:Arial, Hel=
vetica, sans-serif; color:#000000;line-height:1.7;font-family:Arial,verdana=
;font-size:12px;padding:0px;"></p><font style><b></b></font><font style=3D"=
font-size: 12pt;"><b>US scrap price predictions shift course in advance of =
December buy cycle</b>&nbsp;</font></div><div><span><font style=3D"font-siz=
e: 12pt;"><br></font></span></div><div><span><font style=3D"font-size: 12pt=
;">Thursday, 01 December 2022 23:43:10 (GMT+3) | San Diego&nbsp;</font></sp=
an></div><div><span><font style=3D"font-size: 12pt;"><br></font></span></di=
v><div><span><font style=3D"font-size: 12pt;">For the past several weeks, s=
crap market sources throughout the US said they believed December prices ha=
d the potential to trend down for a variety of reasons, such as mills' lagg=
ing capacity utilization rates, soft export prices, and continued downticks=
 in finished steel prices.&nbsp;</font></span></div><div><span><font style=
=3D"font-size: 12pt;"><br></font></span></div><div><span><font style=3D"fon=
t-size: 12pt;">This week, however, sellers have become more optimistic, and=
 numerous sources polled said they feel an up market could be in play.&nbsp=
;</font></span></div><div><span><font style=3D"font-size: 12pt;"><br></font=
></span></div><div><span><font style=3D"font-size: 12pt;">Their shift in se=
ntiment is linked to several factors, including climbing US export HMS I/II=
 80:20 cargo sales prices to Turkey (which climbed from $339.50/mt CFR to $=
378/mt CFR in the span of two weeks) and this week's flurry of flat rolled =
steel price increase announcements. Cleveland-Cliffs led the charge on Mond=
ay when they rolled out a $3.00 cwt. ($66/mt or $60/nt) across-the-board in=
crease for HRC, CRC, and HDG coil. Other domestic mills, including US Steel=
 and Nucor, have since followed.&nbsp;</font></span></div><div><span><font =
style=3D"font-size: 12pt;"><br></font></span></div><div><span><font style=
=3D"font-size: 12pt;">&quot;I think if mills try to take scrap down again n=
ow, when they're making efforts to increase prices, that wouldn't pass the =
smell test,&quot; a source said, noting that he thinks the market has the p=
otential to stay sideways if not firm by $10/gt across the board.&nbsp;</fo=
nt></span></div><div><span><font style=3D"font-size: 12pt;"><br></font></sp=
an></div><div><span><font style=3D"font-size: 12pt;">A source in the South =
said the conversations he's had have been largely similar, although he beli=
eves that prime grades could be up $10-$20/gt with cuts and shred coming in=
 at sideways to up $10/gt.&nbsp;</font></span></div><div><span><font style=
=3D"font-size: 12pt;"><br></font></span></div><div><span><font style=3D"fon=
t-size: 12pt;">Others agree that down pricing is now highly unlikely, and t=
hat &quot;sideways prices would be the worst-case scenario.&quot;&nbsp;</fo=
nt></span></div><div><span><font style=3D"font-size: 12pt;"><br></font></sp=
an></div><div><span><font style=3D"font-size: 12pt;">&quot;I've heard [abou=
t the possibility of upward pricing] in several conversations I had this mo=
rning,&quot; another source added, noting he's heard some sellers talk abou=
t a possible up $15-$20/gt on cut grades and up $30/gt on primes. &quot;It =
seems like there's going to be more demand than people thought and there's =
some concerns about scrap inventory. If everyone waits until January to buy=
, that could create issues in shipping [because there are still a lot of is=
sues when it comes to trucking, transportation, and logistics.].&quot;</fon=
t></span><p style=3D"font-family:Arial,verdana;font-size:12px; color:#00000=
0;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D=
"Arial, Helvetica" style><font style=3D"font-size: 12pt;"></font></font></p=
>

<div><div><div><span><font style=3D"font-size: 12pt;"></font></span><div><s=
pan><font style=3D"font-size: 12pt;"><span></span></font></span></div></div=
></div></div></div><div><span><font style=3D"font-size: 12pt;"><br></font><=
/span></div><div><span><span><font style=3D"font-size: 12pt;">For example, =
yesterday news outlets reported that a still-possible strike by the nation'=
s railroad workers has the potential to create a wave of logistical snarls.=
 Although railroad union leaders, who are still seeking greater flexibility=
 in work schedules, more sick leave, and more compensation, previously agre=
ed to a deal that was brokered by the Biden Administration, four of the 12 =
unions later rejected it.&nbsp;</font></span></span></div><div><span><span>=
<font style=3D"font-size: 12pt;"><br></font></span></span></div><div><span>=
<span><font style=3D"font-size: 12pt;">Sources in the Ohio Valley also thin=
k that an uptick in pricing is more likely than not.&nbsp;</font></span></s=
pan></div><div><span><span><font style=3D"font-size: 12pt;"><br></font></sp=
an></span></div><div><span><span><font style=3D"font-size: 12pt;">&quot;I d=
o think we'll see an uptick finally. I've heard that some mills in Ohio and=
 Western Pennsylvania may have programs that are larger than what they've h=
ad for the past several months,&quot; a source from that region said. &quot=
;I also think that secondary grades are relatively tight so depending how m=
uch larger programs are we may see a small adjustment suffice or we could s=
ee a larger correction. There are still too many unknowns but neither up $1=
0/gt or up $30/gt would surprise me.&quot;&nbsp;</font></span></span></div>=
<div><span><span><font style=3D"font-size: 12pt;"><br></font></span></span>=
</div><div><span><span><font style=3D"font-size: 12pt;">The December buy cy=
cle is expected to start on Monday of next week.</font></span><br></span></=
div></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1657641363747" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09=09
=09=09=09 <div class=3D"zpelement-wrapper divider" id=3D"elm_1657641363747"=
 style=3D";word-wrap:break-word;overflow:hidden;background-color:;">
=09=09=09 <table bgcolor border=3D"0" cellpadding=3D"0" cellspacing=3D"0" c=
lass=3D"zpAlignPos" style=3D"padding:0px;border:0px;border-collapse:collaps=
e; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0pt;word-break:brea=
k-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background=
-color:;" width=3D"100%">
=09=09=09 <tbody><tr><td class=3D"txtsize" style=3D"border:0px;padding:18px=
 7px 18px 7px;border-collapse:collapse;">
=09=09=09=09=09<div class=3D"divider" componentborder=3D"#9babab" style=3D"=
margin:0px;padding:0px;text-align:center;"><table align=3D"center" border=
=3D"0" border-color=3D"#9babab" cellpadding=3D"0" cellspacing=3D"0" class=
=3D"dvdrtbl" style=3D"border-collapse:collapse;font-size:12px;border: 0px; =
font-size: 0px; width: 100%; margin: auto;" width=3D"100%"> <tbody><tr><td =
align=3D"center" border-size=3D"1px" height=3D"0" style=3D"border:0px;paddi=
ng:7px;border-style: dotted none none; border-color: rgb(155, 171, 171); fo=
nt-size: 0px; margin: 0px; padding: 0px; width: 100%; border-top-width: 1px=
;" width=3D"100%">       </td> </tr></tbody></table></div>
=09=09=09</td></tr></tbody></table>
=09=09=09</div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1659317637742" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09<div class=3D"zpelement-wrapper zpcol-layout" id=3D"elm_1659317637742" s=
tyle=3D"word-wrap:break-word;padding-bottom:0 !important;overflow:hidden;pa=
dding:0px;margin:0px;">
=09<div class=3D"zpcolumns" elm_wid_start=3D"600" style=3D"padding:0px;marg=
in:0px;">
=09    =09 <table bgcolor=3D"transparent" cellpadding=3D"0" cellspacing=3D"=
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nsparent;" width=3D"100%">
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ss=3D"cols" style=3D"font-size:12px;max-width:300.0px;width:100%;border:0px=
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ce:0pt;word-break:break-word;" width=3D"100%">
=09=09=09=09<tbody><tr>
=09=09                <td class=3D"txtsize" style=3D"border:0px;padding:0px=
;" valign=3D"top">
                                    <div class=3D"zpwrapper col-space" id=
=3D"pos_1659317637738" style=3D"padding:0px;">

=09    =09<table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" style=3D"font-size:12px;border:0px;padding:0px;width:100%;border=
-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:b=
reak-word;background-color:#ffffff;">
=09    <tbody><tr>
=09=09<td class=3D"txtsize" style=3D"border:0px;padding:0px 0px;border-top:=
0px none #ffffff ;border-bottom:0px none #ffffff;">
            =09<div class=3D"zpelement-wrapper image" coupcmp id=3D"elm_165=
9317637866" prodcmp style=3D";word-wrap:break-word;overflow:hidden;padding:=
0px;background-color:#ffffff;">
=09=09=09<div>
=09=09        <table align=3D"center" border=3D"0" cellpadding=3D"0" cellsp=
acing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;text-align:left;wi=
dth:100%;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:=
0pt; mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:cente=
r;">
            =09=09<tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;=
padding:7px 15px;text-align:center;padding-top:37px;padding-bottom:6px;padd=
ing-right:15px;padding-left:15px;">
=09=09=09<a href=3D"https://qprdy-zgph.maillist-manage.com/click.zc?m=3D1&m=
rd=3D1c08f772a33413a7&od=3D3zbbfd3107516e2747240afb213f83dea99f3114ab6bc113=
15f109b5f5525d0f45&linkDgs=3D1c08f772a3340b60&repDgs=3D1c08f772a3340118" st=
yle=3D"text-decoration:underline;border:0px;" target=3D"_blank" zcurl_name=
=3D"l_7">
=09=09=09<img align=3D"center" alt=3D"https://campaign-image.com/zohocampai=
gns/769016653/inkcanva_867215000002375184.png" class=3D"zpImage" height=3D"=
auto" hspace=3D"0" size=3D"F" src=3D"http://zohopublic.com/zohocampaigns/86=
7215000005232103_zc_v30_1669473642347_maprofsittng.jpg" style=3D"width:270p=
x;height:autopx;max-width:360px !important;border:0px;text-align:center;" t=
itle=3D"Murat Askin, Founder and CEO" vspace=3D"0" width=3D"270">
=09=09=09</a>
=09=09=09</td></tr>
=09=09=09<tr><td class=3D"txtsize" style=3D"border:0px;padding:0px;text-ali=
gn:left;margin:0px auto;" width=3D"270">
                <div class=3D"zpImageCaption" style=3D"text-align:center;ma=
rgin:0px auto;padding:0px;"></div>
=09=09=09</td></tr></tbody></table>
=09=09</div>
            </div>
            </td></tr></tbody></table>
=09=09                    </div>=20
=09=09    </td></tr></tbody></table>
=09=09    <!--[if (gte mso 9)|(IE)]>
                      </td>
            <![endif]-->
=09=09=09
=09=09        <!--[if (gte mso 9)|(IE)]>
=09=09=09=09=09<td style=3D"font-size:12px;font-family:Arial, Helvetica, sa=
ns-serif;border:0px;padding:0px 0px;" align=3D"left" width=3D" 50.0%" valig=
n=3D"top">
=09            <![endif]-->        =20
=09=09=09=09  <table align=3D"left" cellpadding=3D"0" cellspacing=3D"0" cla=
ss=3D"cols" style=3D"font-size:12px;max-width:300.0px;width:100%;border:0px=
;padding:0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspa=
ce:0pt;word-break:break-word;" width=3D"100%">
=09=09=09=09<tbody><tr>
=09=09                <td class=3D"txtsize" style=3D"border:0px;padding:0px=
;" valign=3D"top">
                                    <div class=3D"zpwrapper col-space" id=
=3D"pos_1659317637740" style=3D"padding:0px;">

          <div class=3D"zpelement-wrapper" id=3D"elm_1659317637741" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:;">
=09    =09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"=
zpAlignPos" style=3D"font-size:12px;padding:0px;border:0px;border-collapse:=
collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;=
-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;paddin=
g:7px 15px;line-height:19pt;border-top:0px none ;   border-bottom:0px none =
;padding-top:7px;padding-bottom:7px;padding-right:15px;padding-left:15px;">
             =09    =09=09<div style><p style=3D"font-family:Arial,verdana;=
font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text=
-align: left;"><span style=3D"font-family: Arial, Helvetica; background-col=
or: rgba(0, 0, 0, 0);"><font style=3D"font-size: 16pt;"><b style><a class=
=3D"zpitemAnchor" name=3D"MA_Section" style=3D"text-decoration:underline;" =
title=3D"MA_Section"></a>Perspectives from StaalX Founder and CEO</b></font=
></span></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#00=
0000;padding:0px;margin: 0;line-height: 19pt; text-align: left;"><span styl=
e=3D"background-color: rgba(0, 0, 0, 0); font-family: Arial, Helvetica; fon=
t-size: 12pt;">In this fourth article in the intimate series, Murat Askin t=
alks about the ups and downs of steel trading industry and the genesis of i=
deas that created StaalX.&nbsp;</span><span style=3D"background-color: rgba=
(0, 0, 0, 0); color: rgb(51, 51, 51); font-family: Arial, Helvetica; font-s=
ize: 12pt;">&nbsp;</span><br></p><p style=3D"font-family:Arial,verdana;font=
-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-ali=
gn: left;"><span style=3D"background-color: rgba(0, 0, 0, 0); color: rgb(51=
, 51, 51); font-family: Arial, Helvetica; font-size: 12pt;"><br></span></p>=
<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 19pt; text-align: left;"><font color=3D"#0001ee=
" style=3D"color: rgb(0, 1, 238); font-size: 12pt;"><a alt=3D"Article&nbsp;=
V:&nbsp;Who will win the steel e-commerce race?" href=3D"https://qprdy-zgph=
.maillist-manage.com/click.zc?m=3D1&mrd=3D1c08f772a33413a7&od=3D3zbbfd31075=
16e2747240afb213f83dea99f3114ab6bc11315f109b5f5525d0f45&linkDgs=3D1c08f772a=
3340b62&repDgs=3D1c08f772a3340118" rel=3D"noopener noreferrer" style=3D"tex=
t-decoration:underline;" target=3D"_blank" title=3D"Article&nbsp;V:&nbsp;Wh=
o will win the steel e-commerce race?" zcurl_name=3D"l_9"><font color=3D"#0=
001ee" style=3D"color:#0001ee;">Article&nbsp;V:&nbsp;Who will win the steel=
 e-commerce race?</font></a></font></p><p style=3D"font-family:Arial,verdan=
a;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; te=
xt-align: left;"><br></p><p style=3D"font-family:Arial,verdana;font-size:12=
px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: left=
;"><span style=3D"background-color: rgba(0, 0, 0, 0); font-family: Arial, H=
elvetica;"><a alt=3D"Article IV: Sailing into the Unknown" href=3D"https://=
qprdy-zgph.maillist-manage.com/click.zc?m=3D1&mrd=3D1c08f772a33413a7&od=3D3=
zbbfd3107516e2747240afb213f83dea99f3114ab6bc11315f109b5f5525d0f45&linkDgs=
=3D1c08f772a3340b64&repDgs=3D1c08f772a3340118" rel=3D"noopener noreferrer" =
style=3D"text-decoration:underline;color: rgb(0, 0, 0);" target=3D"_blank" =
title=3D"Article IV: Sailing into the Unknown" zcurl_name=3D"l_10"><font co=
lor=3D"#000000" style=3D"color: rgb(0, 0, 0); font-size: 12pt;">Article IV:=
 Sailing into the Unknown</font></a></span></p><p style=3D"font-family:Aria=
l,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: =
19pt; text-align: left;"><span style=3D"background-color: rgba(0, 0, 0, 0);=
 font-family: Arial, Helvetica; font-size: 12pt;"><a alt=3D"Article III:&nb=
sp;Start walking, the path will appear" href=3D"https://qprdy-zgph.maillist=
-manage.com/click.zc?m=3D1&mrd=3D1c08f772a33413a7&od=3D3zbbfd3107516e274724=
0afb213f83dea99f3114ab6bc11315f109b5f5525d0f45&linkDgs=3D1c08f772a3340b66&r=
epDgs=3D1c08f772a3340118" rel=3D"noopener noreferrer" style=3D"text-decorat=
ion:underline;color: rgb(51, 51, 51);" target=3D"_blank" title=3D"Article I=
II:&nbsp;Start walking, the path will appear" zcurl_name=3D"l_11"><font col=
or=3D"#333333" style=3D"color:#333333;">Article III:&nbsp;Start walking, th=
e path will appear</font></a></span></p><p style=3D"font-family:Arial,verda=
na;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; t=
ext-align: left;"><a alt=3D"Article II: Trading Companies are like Crocodil=
es" href=3D"https://qprdy-zgph.maillist-manage.com/click.zc?m=3D1&mrd=3D1c0=
8f772a33413a7&od=3D3zbbfd3107516e2747240afb213f83dea99f3114ab6bc11315f109b5=
f5525d0f45&linkDgs=3D1c08f772a3340b68&repDgs=3D1c08f772a3340118" rel=3D"noo=
pener noreferrer" style=3D"text-decoration:underline;font-size: 12pt; font-=
family: Arial, Helvetica; background-color: transparent;" target=3D"_blank"=
 title=3D"Article II: Trading Companies are like Crocodiles" zcurl_name=3D"=
l_12"><font color=3D"#333333" style=3D"color:#333333;">Article II: Trading =
Companies are like Crocodiles&nbsp;</font></a></p><p style=3D"font-family:A=
rial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-heigh=
t: 19pt; text-align: left;"><a alt=3D"SteelVillage.com -&nbsp;The beginning=
 of chasing my dreams" href=3D"https://qprdy-zgph.maillist-manage.com/click=
.zc?m=3D1&mrd=3D1c08f772a33413a7&od=3D3zbbfd3107516e2747240afb213f83dea99f3=
114ab6bc11315f109b5f5525d0f45&linkDgs=3D1c08f772a3340b6a&repDgs=3D1c08f772a=
3340118" rel=3D"noopener noreferrer" style=3D"text-decoration:underline;bac=
kground-color: transparent; color: rgb(68, 67, 67);" target=3D"_blank" titl=
e=3D"SteelVillage.com -&nbsp;The beginning of chasing my dreams" zcurl_name=
=3D"l_13"><font color=3D"#444343" style=3D"font-size: 12pt;">Article I: Ste=
elVillage.com -&nbsp;The beginning of chasing my dreams</font></a><br></p><=
/div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
=09=09                    </div>=20
=09=09    </td></tr></tbody></table>
=09=09    <!--[if (gte mso 9)|(IE)]>
                      </td>
            <![endif]-->
=09=09 <!--[if (gte mso 9)|(IE)]>
                      </tr></tbody></table>
            <![endif]-->
=09=09</td>
=09    </tr>
=09    </tbody></table>
            </div></div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1657641222441" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09=09
=09=09=09 <div class=3D"zpelement-wrapper divider" id=3D"elm_1657641222441"=
 style=3D";word-wrap:break-word;overflow:hidden;background-color:;">
=09=09=09 <table bgcolor border=3D"0" cellpadding=3D"0" cellspacing=3D"0" c=
lass=3D"zpAlignPos" style=3D"padding:0px;border:0px;border-collapse:collaps=
e; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0pt;word-break:brea=
k-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background=
-color:;" width=3D"100%">
=09=09=09 <tbody><tr><td class=3D"txtsize" style=3D"border:0px;padding:18px=
 7px 18px 7px;border-collapse:collapse;">
=09=09=09=09=09<div class=3D"divider" componentborder=3D"#9babab" style=3D"=
margin:0px;padding:0px;text-align:center;"><table align=3D"center" border=
=3D"0" border-color=3D"#9babab" cellpadding=3D"0" cellspacing=3D"0" class=
=3D"dvdrtbl" style=3D"border-collapse:collapse;font-size:12px;border: 0px; =
font-size: 0px; width: 100%; margin: auto;" width=3D"100%"> <tbody><tr><td =
align=3D"center" border-size=3D"1px" height=3D"0" style=3D"border:0px;paddi=
ng:7px;border-style: dotted none none; border-color: rgb(155, 171, 171); fo=
nt-size: 0px; margin: 0px; padding: 0px; width: 100%; border-top-width: 1px=
;" width=3D"100%">       </td> </tr></tbody></table></div>
=09=09=09</td></tr></tbody></table>
=09=09=09</div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1657643168282" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09    =09<table bgcolor=3D"transparent" border=3D"0" cellpadding=3D"0" cel=
lspacing=3D"0" style=3D"font-size:12px;border:0px;padding:0px;width:100%;bo=
rder-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-bre=
ak:break-word;background-color:transparent;">
=09    <tbody><tr>
=09=09<td class=3D"txtsize" style=3D"border:0px;padding:0px 0px;border-top:=
none none none ;border-bottom:none none none;">
            =09<div class=3D"zpelement-wrapper image" coupcmp id=3D"elm_165=
7643168282" prodcmp style=3D";word-wrap:break-word;overflow:hidden;padding:=
0px;background-color:transparent;">
=09=09=09<div>
=09=09        <table align=3D"left" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;text-align:left;widt=
h:100%;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0p=
t; mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:left;">
            =09=09<tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;=
padding:7px 15px;text-align:center;padding-top:7px;padding-bottom:7px;paddi=
ng-right:15px;padding-left:15px;">
=09=09=09<a href=3D"https://qprdy-zgph.maillist-manage.com/click.zc?m=3D1&m=
rd=3D1c08f772a33413a7&od=3D3zbbfd3107516e2747240afb213f83dea99f3114ab6bc113=
15f109b5f5525d0f45&linkDgs=3D1c08f772a3340b6c&repDgs=3D1c08f772a3340118" st=
yle=3D"text-decoration:underline;border:0px;" target=3D"_blank" zcurl_name=
=3D"l_14">
=09=09=09<img align=3D"left" alt=3D"https://campaign-image.com/zohocampaign=
s/769016653/inkcanva_867215000002064628.png" class=3D"zpImage" height=3D"au=
to" hspace=3D"0" size=3D"F" src=3D"http://zohopublic.com/zohocampaigns/8672=
15000005232103_zc_v64_1669646061845_wire_rod_conference.jpg" style=3D"width=
:570px;height:autopx;max-width:570px !important;border:0px;text-align:left;=
" vspace=3D"0" width=3D"570">
=09=09=09</a>
=09=09=09</td></tr>
=09=09=09<tr><td class=3D"txtsize" style=3D"border:0px;padding:0px;text-ali=
gn:left;margin:0px auto;" width=3D"570">
                <div class=3D"zpImageCaption" style=3D"text-align:center;ma=
rgin:0px auto;padding:0px;"></div>
=09=09=09</td></tr></tbody></table>
=09=09</div>
            </div>
            </td></tr></tbody></table>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1669644436286" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1669644436286" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:#ffffff;">
=09    =09<table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;padding:0px;border:=
0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;wo=
rd-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 10=
0%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;paddin=
g:7px 15px;line-height:17pt;border-top:0px none ;   border-bottom:0px none =
;padding-top:5px;padding-bottom:5px;padding-right:30px;padding-left:30px;">
             =09    =09=09<div componentbgcolor=3D"#ffffff" componentlinehe=
ight=3D"17pt" componentpaddingbottom=3D"5px" componentpaddingleft=3D"30px" =
componentpaddingright=3D"30px" componentpaddingtop=3D"5px" style=3D"backgro=
und-color: rgb(255, 255, 255);"><p style=3D"font-family:Arial,verdana;font-=
size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"><span st=
yle=3D"line-height: 17pt;">

</span></p><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:=
12px; color:#000000;padding:0px;margin: 0px; padding: 0px; box-sizing: bord=
er-box; font-style: normal; font-variant-ligatures: normal; font-variant-ca=
ps: normal; font-weight: 400; orphans: 2; text-align: left; text-indent: 0p=
x; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;=
 -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); line=
-height: 17pt;"><span style=3D"font-size: 12pt; line-height: 17pt;"><font c=
olor=3D"#4c4c4c" face=3D"Arial, Helvetica" style=3D"line-height: 17pt;"><sp=
an style=3D"font-size: 12pt; line-height: 17pt;"></span></font></span></p><=
span style=3D"line-height: 17pt;"><p style=3D"line-height:1.7;font-family:A=
rial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align=
: left; line-height: 17pt;"><span style=3D"font-family: Arial, Helvetica; l=
ine-height: 17pt;"><b><font style=3D"font-size: 12pt; line-height: 17pt;"><=
/font></b></span></p><span><p align=3D"left" style=3D"font-family:Arial,ver=
dana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt;=
 text-align: left;"><font color=3D"#333333" face=3D"Arial, Helvetica" style=
=3D"font-size: 12pt;color:#333333;"><b><font></font></b></font></p><p align=
=3D"left" style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;=
padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D"A=
rial, Helvetica" style=3D"font-size: 12pt;"><span style=3D"color: rgb(51, 5=
1, 51);"></span><span><span></span></span></font></p></span><span><p style=
=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;line-height: 19pt; text-align: left;"><span style=3D"color: rgb(51, =
51, 51); font-size: 12pt; font-family: Arial, Helvetica;"></span></p></span=
><span><font style=3D"font-size: 12pt;">

<span>StaalX proudly sponsors SteelOrbis' Rebar Wire Rod conference on Mond=
ay, January 16, 2023. This is the only steel focused even around the World =
of Concrete and can't miss networking opportunity for concrete reinforcing =
professionals.&nbsp;</span><span>Click on the image below to register and f=
ind out more about this conference where our CEO Murat Askin will also atte=
nd as a speaker.</span></font>

</span><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px=
; color:#000000;padding:0px;margin: 0;text-align: left; line-height: 17pt;"=
><br></p></span></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1669644422090" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09    =09<table bgcolor=3D"transparent" border=3D"0" cellpadding=3D"0" cel=
lspacing=3D"0" style=3D"font-size:12px;border:0px;padding:0px;width:100%;bo=
rder-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-bre=
ak:break-word;background-color:transparent;">
=09    <tbody><tr>
=09=09<td class=3D"txtsize" style=3D"border:0px;padding:0px 0px;border-top:=
none none none ;border-bottom:none none none;">
            =09<div class=3D"zpelement-wrapper image" coupcmp id=3D"elm_166=
9644422090" prodcmp style=3D";word-wrap:break-word;overflow:hidden;padding:=
0px;background-color:transparent;">
=09=09=09<div>
=09=09        <table align=3D"left" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;text-align:left;widt=
h:100%;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0p=
t; mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:left;">
            =09=09<tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;=
padding:7px 15px;text-align:center;padding-top:7px;padding-bottom:7px;paddi=
ng-right:15px;padding-left:15px;">
=09=09=09<a href=3D"https://qprdy-zgph.maillist-manage.com/click.zc?m=3D1&m=
rd=3D1c08f772a33413a7&od=3D3zbbfd3107516e2747240afb213f83dea99f3114ab6bc113=
15f109b5f5525d0f45&linkDgs=3D1c08f772a3340b6e&repDgs=3D1c08f772a3340118" st=
yle=3D"text-decoration:underline;border:0px;" target=3D"_blank" zcurl_name=
=3D"l_15">
=09=09=09<img align=3D"left" alt=3D"https://campaign-image.com/zohocampaign=
s/769016653/inkcanva_867215000002064628.png" class=3D"zpImage" height=3D"au=
to" hspace=3D"0" size=3D"F" src=3D"http://zohopublic.com/zohocampaigns/8672=
15000005232103_zc_v64_1669646061778_unnamed.jpg" style=3D"width:570px;heigh=
t:autopx;max-width:570px !important;border:0px;text-align:left;" vspace=3D"=
0" width=3D"570">
=09=09=09</a>
=09=09=09</td></tr>
=09=09=09<tr><td class=3D"txtsize" style=3D"border:0px;padding:0px;text-ali=
gn:left;margin:0px auto;" width=3D"570">
                <div class=3D"zpImageCaption" style=3D"text-align:center;ma=
rgin:0px auto;padding:0px;"></div>
=09=09=09</td></tr></tbody></table>
=09=09</div>
            </div>
            </td></tr></tbody></table>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1669644689766" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1669644689766" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:#ffffff;">
=09    =09<table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;padding:0px;border:=
0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;wo=
rd-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 10=
0%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;paddin=
g:7px 15px;line-height:17pt;border-top:0px none ;   border-bottom:0px none =
;padding-top:5px;padding-bottom:5px;padding-right:30px;padding-left:30px;">
             =09    =09=09<div componentbgcolor=3D"#ffffff" componentlinehe=
ight=3D"17pt" componentpaddingbottom=3D"5px" componentpaddingleft=3D"30px" =
componentpaddingright=3D"30px" componentpaddingtop=3D"5px" style=3D"backgro=
und-color: rgb(255, 255, 255);"><p style=3D"font-family:Arial,verdana;font-=
size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"><span st=
yle=3D"line-height: 17pt;">

</span></p><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:=
12px; color:#000000;padding:0px;margin: 0px; padding: 0px; box-sizing: bord=
er-box; font-style: normal; font-variant-ligatures: normal; font-variant-ca=
ps: normal; font-weight: 400; orphans: 2; text-align: left; text-indent: 0p=
x; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;=
 -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); line=
-height: 17pt;"><span style=3D"font-size: 12pt; line-height: 17pt;"><font c=
olor=3D"#4c4c4c" face=3D"Arial, Helvetica" style=3D"line-height: 17pt;"><sp=
an style=3D"font-size: 12pt; line-height: 17pt;"></span></font></span></p><=
span style=3D"line-height: 17pt;"><p style=3D"line-height:1.7;font-family:A=
rial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align=
: left; line-height: 17pt;"><span style=3D"font-family: Arial, Helvetica; l=
ine-height: 17pt;"><b><font style=3D"font-size: 12pt; line-height: 17pt;"><=
/font></b></span></p><span><p align=3D"left" style=3D"font-family:Arial,ver=
dana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt;=
 text-align: left;"><font color=3D"#333333" face=3D"Arial, Helvetica" style=
=3D"font-size: 12pt;color:#333333;"><b><font></font></b></font></p><p align=
=3D"left" style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;=
padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D"A=
rial, Helvetica" style=3D"font-size: 12pt;"><span style=3D"color: rgb(51, 5=
1, 51);"></span><span><span></span></span></font></p></span><span><p style=
=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;line-height: 19pt; text-align: left;"><span style=3D"color: rgb(51, =
51, 51); font-size: 12pt; font-family: Arial, Helvetica;"></span></p></span=
><span><font style>

<span></span></font></span><span><font style=3D"font-size: 12pt;">

<span>We look forward to meeting you at our<span>&nbsp;</span></span><b>N31=
04</b><span><span>&nbsp;</span>booth to learn about your needs and how Staa=
lX can help you delivering competitive products when you need it</span></fo=
nt>

</span><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px=
; color:#000000;padding:0px;margin: 0;text-align: left; line-height: 17pt;"=
><br></p></span></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1669644749368" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09    =09<table bgcolor=3D"transparent" border=3D"0" cellpadding=3D"0" cel=
lspacing=3D"0" style=3D"font-size:12px;border:0px;padding:0px;width:100%;bo=
rder-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-bre=
ak:break-word;background-color:transparent;">
=09    <tbody><tr>
=09=09<td class=3D"txtsize" style=3D"border:0px;padding:0px 0px;border-top:=
none none none ;border-bottom:none none none;">
            =09<div class=3D"zpelement-wrapper image" coupcmp id=3D"elm_166=
9644749368" prodcmp style=3D";word-wrap:break-word;overflow:hidden;padding:=
0px;background-color:transparent;">
=09=09=09<div>
=09=09        <table align=3D"left" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;text-align:left;widt=
h:100%;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0p=
t; mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:left;">
            =09=09<tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;=
padding:7px 15px;text-align:center;padding-top:7px;padding-bottom:7px;paddi=
ng-right:15px;padding-left:15px;">
=09=09=09<a href=3D"https://qprdy-zgph.maillist-manage.com/click.zc?m=3D1&m=
rd=3D1c08f772a33413a7&od=3D3zbbfd3107516e2747240afb213f83dea99f3114ab6bc113=
15f109b5f5525d0f45&linkDgs=3D1c08f772a3340b70&repDgs=3D1c08f772a3340118" st=
yle=3D"text-decoration:underline;border:0px;" target=3D"_blank" zcurl_name=
=3D"l_16">
=09=09=09<img align=3D"left" alt=3D"https://campaign-image.com/zohocampaign=
s/769016653/inkcanva_867215000002064628.png" class=3D"zpImage" height=3D"au=
to" hspace=3D"0" size=3D"F" src=3D"http://zohopublic.com/zohocampaigns/8672=
15000005232103_zc_v64_1669646061460_whatsapp_image_2022_11_26_at_01.48.56.j=
peg" style=3D"width:570px;height:autopx;max-width:570px !important;border:0=
px;text-align:left;" vspace=3D"0" width=3D"570">
=09=09=09</a>
=09=09=09</td></tr>
=09=09=09<tr><td class=3D"txtsize" style=3D"border:0px;padding:0px;text-ali=
gn:left;margin:0px auto;" width=3D"570">
                <div class=3D"zpImageCaption" style=3D"text-align:center;ma=
rgin:0px auto;padding:0px;"></div>
=09=09=09</td></tr></tbody></table>
=09=09</div>
            </div>
            </td></tr></tbody></table>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1669644769260" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1669644769260" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:#ffffff;">
=09    =09<table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;padding:0px;border:=
0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;wo=
rd-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 10=
0%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;paddin=
g:7px 15px;line-height:17pt;border-top:0px none ;   border-bottom:0px none =
;padding-top:5px;padding-bottom:5px;padding-right:30px;padding-left:30px;">
             =09    =09=09<div componentbgcolor=3D"#ffffff" componentlinehe=
ight=3D"17pt" componentpaddingbottom=3D"5px" componentpaddingleft=3D"30px" =
componentpaddingright=3D"30px" componentpaddingtop=3D"5px" style=3D"backgro=
und-color: rgb(255, 255, 255);"><p style=3D"font-family:Arial,verdana;font-=
size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"><span st=
yle=3D"line-height: 17pt;">

</span></p><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:=
12px; color:#000000;padding:0px;margin: 0px; padding: 0px; box-sizing: bord=
er-box; font-style: normal; font-variant-ligatures: normal; font-variant-ca=
ps: normal; font-weight: 400; orphans: 2; text-align: left; text-indent: 0p=
x; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;=
 -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); line=
-height: 17pt;"><span style=3D"font-size: 12pt; line-height: 17pt;"><font c=
olor=3D"#4c4c4c" face=3D"Arial, Helvetica" style=3D"line-height: 17pt;"><sp=
an style=3D"font-size: 12pt; line-height: 17pt;"></span></font></span></p><=
span style=3D"line-height: 17pt;"><p style=3D"line-height:1.7;font-family:A=
rial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align=
: left; line-height: 17pt;"><span style=3D"font-family: Arial, Helvetica; l=
ine-height: 17pt;"><b><font style=3D"font-size: 12pt; line-height: 17pt;"><=
/font></b></span></p><span><p align=3D"left" style=3D"font-family:Arial,ver=
dana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt;=
 text-align: left;"><font color=3D"#333333" face=3D"Arial, Helvetica" style=
=3D"font-size: 12pt;color:#333333;"><b><font></font></b></font></p><p align=
=3D"left" style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;=
padding:0px;margin: 0;line-height: 19pt; text-align: left;"><font face=3D"A=
rial, Helvetica" style=3D"font-size: 12pt;"><span style=3D"color: rgb(51, 5=
1, 51);"></span><span><span></span></span></font></p></span><span><p style=
=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;line-height: 19pt; text-align: left;"><span style=3D"color: rgb(51, =
51, 51); font-size: 12pt; font-family: Arial, Helvetica;"></span></p></span=
><span><font style>

<span></span></font></span><span><font style>

<span></span></font></span><span><font style=3D"font-size: 12pt;">

<span>We look forward to meeting you at our</span><span>&nbsp;</span><b>812=
</b><span>&nbsp;</span><span>booth at Precast Show held on February 23th th=
rough 25th 2023 in Columbus, Ohio. Stop by to talk to one of our associates=
 and check our website for your needs</span></font>

</span><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px=
; color:#000000;padding:0px;margin: 0;text-align: left; line-height: 17pt;"=
><br></p></span></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1658713529917" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09=09
=09=09=09 <div class=3D"zpelement-wrapper divider" id=3D"elm_1658713529917"=
 style=3D";word-wrap:break-word;overflow:hidden;background-color:;">
=09=09=09 <table bgcolor border=3D"0" cellpadding=3D"0" cellspacing=3D"0" c=
lass=3D"zpAlignPos" style=3D"padding:0px;border:0px;border-collapse:collaps=
e; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0pt;word-break:brea=
k-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background=
-color:;" width=3D"100%">
=09=09=09 <tbody><tr><td class=3D"txtsize" style=3D"border:0px;padding:18px=
 7px 18px 7px;border-collapse:collapse;">
=09=09=09=09=09<div class=3D"divider" componentborder=3D"#9babab" style=3D"=
margin:0px;padding:0px;text-align:center;"><table align=3D"center" border=
=3D"0" border-color=3D"#9babab" cellpadding=3D"0" cellspacing=3D"0" class=
=3D"dvdrtbl" style=3D"border-collapse:collapse;font-size:12px;border: 0px; =
font-size: 0px; width: 100%; margin: auto;" width=3D"100%"> <tbody><tr><td =
align=3D"center" border-size=3D"1px" height=3D"0" style=3D"border:0px;paddi=
ng:7px;border-style: dotted none none; border-color: rgb(155, 171, 171); fo=
nt-size: 0px; margin: 0px; padding: 0px; width: 100%; border-top-width: 1px=
;" width=3D"100%">       </td> </tr></tbody></table></div>
=09=09=09</td></tr></tbody></table>
=09=09=09</div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1615281525885" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">






























=09=20

=09          <div class=3D"zpelement-wrapper spacebar" id=3D"elm_1615281525=
885" style=3D";word-wrap:break-word;overflow:hidden;background-color:#fffff=
f;">
=09=09=09=09=09
=09=09=09=09=09 <table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" c=
ellspacing=3D"0" class=3D"zpAlignPos" style=3D"padding:0px;border:0px;borde=
r-collapse:collapse; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0=
pt;word-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;height:8px;" width=3D"100%">

=09                        <tbody><tr><td style=3D"padding:0px;border:0px;f=
ont-size:5px;height:8px;border-top:none none none;border-bottom:none none n=
one;">

=09                        &nbsp;&nbsp;&nbsp;

=09                        </td></tr>

=09                </tbody></table>

=09          </div>

</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1584962826853" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1584962826853" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:#ffffff;">
=09    =09<table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;padding:0px;border:=
0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;wo=
rd-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 10=
0%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border:0px;paddin=
g:7px 15px;line-height:25pt;border-top:0px none ;   border-bottom:0px none =
;padding-top:5px;padding-bottom:5px;padding-right:30px;padding-left:30px;">
             =09    =09=09<div componentbgcolor=3D"#ffffff" componentlinehe=
ight=3D"25pt" componentpaddingbottom=3D"5px" componentpaddingleft=3D"30px" =
componentpaddingright=3D"30px" componentpaddingtop=3D"5px" style=3D"backgro=
und-color: rgb(255, 255, 255);"><p style=3D"font-family:Arial,verdana;font-=
size:12px; color:#000000;padding:0px;margin: 0;line-height: 25pt;"><span st=
yle=3D"line-height: 25pt;">

</span></p><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:=
12px; color:#000000;padding:0px;margin: 0px; padding: 0px; box-sizing: bord=
er-box; font-family: Arial, verdana; color: rgb(0, 0, 0); font-size: 12px; =
font-style: normal; font-variant-ligatures: normal; font-variant-caps: norm=
al; font-weight: 400; orphans: 2; text-align: left; text-indent: 0px; text-=
transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit=
-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-co=
lor: initial; background-color: rgb(255, 255, 255); line-height: 25pt;"><fo=
nt style=3D"margin: 0px; padding: 0px; box-sizing: border-box; line-height:=
 25pt;"><span style=3D"margin: 0px; padding: 0px; box-sizing: border-box; l=
ine-height: 25pt;"><font style=3D"margin: 0px; padding: 0px; box-sizing: bo=
rder-box; font-size: 18pt; line-height: 25pt;"><b style=3D"margin: 0px; pad=
ding: 0px; box-sizing: border-box;"></b></font></span></font></p><font colo=
r=3D"#353535" face=3D"Arial, Helvetica" style=3D"font-size: 15pt; line-heig=
ht: 25pt;"><b>

</b></font><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:=
12px; color:#000000;padding:0px;margin: 0px; padding: 0px; box-sizing: bord=
er-box; font-style: normal; font-variant-ligatures: normal; font-variant-ca=
ps: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform:=
 none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stro=
ke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style:=
 initial; text-decoration-color: initial; line-height: 25pt;"><font style=
=3D"margin: 0px; padding: 0px; box-sizing: border-box; line-height: 25pt;">=
<b style=3D"margin: 0px; padding: 0px; box-sizing: border-box;"><font color=
=3D"#353535" face=3D"Arial, Helvetica" style=3D"font-size: 15pt; line-heigh=
t: 25pt;"></font></b></font></p><h4 style=3D"margin: 0;padding: 0px;font-fa=
mily:Arial, Helvetica, sans-serif; color:#000000;color:#000000; font-weight=
:normal;font-family:Arial,verdana,Helvetica, sans-serif; color:#000000;font=
-size: 22px;"><font face=3D"Arial, Helvetica"><span style=3D"font-size: 21.=
3333px;"><b>Do you have any questions?&nbsp; Check out our FAQ</b></span></=
font></h4><p style=3D"font-family:Arial,verdana;font-size:12px; color:#0000=
00;padding:0px;margin: 0;line-height: 25pt;"></p>

<p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color=
:#000000;padding:0px;margin: 0px; padding: 0px; box-sizing: border-box; fon=
t-family: Arial, verdana; color: rgb(0, 0, 0); font-size: 12px; font-style:=
 normal; font-variant-ligatures: normal; font-variant-caps: normal; font-we=
ight: 400; orphans: 2; text-align: left; text-indent: 0px; text-transform: =
none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-strok=
e-width: 0px; text-decoration-style: initial; text-decoration-color: initia=
l; background-color: rgb(255, 255, 255); line-height: 25pt;"><font size=3D"=
5" style=3D"margin: 0px; padding: 0px; box-sizing: border-box; line-height:=
 25pt;"><span style=3D"margin: 0px; padding: 0px; box-sizing: border-box; l=
ine-height: 25pt;"><font style=3D"margin: 0px; padding: 0px; box-sizing: bo=
rder-box; font-size: 12pt; line-height: 25pt;"></font></span></font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 25pt;"></p></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1657643517507" style=3D"border:0px;padd=
ing:0px 0px;border-collapse:collapse;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1657643517507" style=
=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;background-colo=
r:#ffffff;">
=09    =09<table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"zpAlignPos" style=3D"font-size:12px;padding:0px;border:=
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0%;" width=3D"100%">
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g:7px 15px;line-height:17pt;border-top:0px none ;   border-bottom:0px none =
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und-color: rgb(255, 255, 255);"><p style=3D"font-family:Arial,verdana;font-=
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yle=3D"line-height: 17pt;">

</span></p><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:=
12px; color:#000000;padding:0px;margin: 0px; padding: 0px; box-sizing: bord=
er-box; font-family: Arial, verdana; color: rgb(0, 0, 0); font-size: 12px; =
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><span style=3D"line-height: 17pt;"><font color=3D"#4c4c4c" face=3D"Arial, =
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; color:#000000;padding:0px;margin: 0px; padding: 0px; box-sizing: border-b=
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eight: 17pt;"></span></span></span></span></span></span></font></span><span=
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line-height: 17pt;"><span style=3D"line-height: 17pt;"></span></span><span =
style=3D"line-height: 17pt;"></span></span></span></span></span></font></p>=
<h4 style=3D"margin: 0;padding: 0px;font-family:Arial, Helvetica, sans-seri=
f; color:#000000;color:#000000; font-weight:normal;font-family:Arial,verdan=
a,Helvetica, sans-serif; color:#000000;font-size: 22px;"><span style=3D"col=
or: rgb(51, 51, 51); font-size: 12pt; font-family: Arial, Helvetica; line-h=
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le=3D"margin: 0;padding: 0px;font-family:Arial, Helvetica, sans-serif; colo=
r:#000000;color:#000000; font-weight:normal;font-family:Arial,verdana,Helve=
tica, sans-serif; color:#000000;font-size: 22px;"><font color=3D"#333333" f=
ace=3D"Arial, Helvetica"><span style=3D"font-size: 16px;">We know you have =
a lot of questions about StaalX and its revolutionary new services in the i=
ndustry.&nbsp; Check out the most frequently asked questions about the serv=
ice and products of StaalX and we are always here to chat with you on the c=
hat boxes from the site or on the support telephone number below.&nbsp;</sp=
an></font></h4></span><p style=3D"font-family:Arial,verdana;font-size:12px;=
 color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: left;">=
<br></p></div>
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ing:0px 0px;border-collapse:collapse;" valign=3D"top">

=09=09=09
=09=09 =09       =20
=09=09           =20
=09=09 =20



















=09<table bgcolor=3D"transparent" cellpadding=3D"0" cellspacing=3D"0" heigh=
t=3D"48" style=3D"font-size:12px;border:0px;border-collapse:collapse; mso-t=
able-lspace:0pt; mso-table-rspace:0pt;border:none;" width=3D"100%">
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font-size: 0px; width: 100%; margin: auto;" width=3D"100%"> <tbody><tr><td =
align=3D"center" border-size=3D"1px" height=3D"0" style=3D"border:0px;paddi=
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nt-size: 0px; margin: 0px; padding: 0px; width: 100%; border-top-width: 1px=
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r:#ffffff;">
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0%;" width=3D"100%">
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g:7px 15px;line-height:17pt;border-top:0px none ;   border-bottom:0px none =
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ight=3D"17pt" componentpaddingbottom=3D"5px" componentpaddingleft=3D"100px"=
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round-color: rgb(255, 255, 255);"><p align=3D"center" style=3D"line-height:=
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gin: 0;text-align: center; line-height: 17pt;"><font color=3D"#444343" face=
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enter; line-height: 17pt;"><font style=3D"font-size: 10pt; line-height: 17p=
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yle=3D"font-family: Arial, Helvetica; line-height: 17pt;"><font color=3D"#4=
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