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https://staalx.com

StaalX Newsletter, June 26, 2025 (Scroll down for Steelorbis news)

Updates From This Week

http://staalx.com

In the aftermath of tariff increase, more price increases are imminent

Both Rebar and Wire Rod prices strongly trending up

As the dust is settling on Trump's new and improved steel tariffs of 50%, d=
omestic mills rushed and announced price increases for both rebars ($60 /to=
n are sticking) and wire rods ($40 /ton are sticking). The domestic mills w=
ere measured and conservative in their increases, but as June is coming to =
a close, there are more price increases looming. And this time, scrap price=
s may also go up a notch, helping the domestic price rally to continue.

Price increases are all supply driven at themoment. The steel demand is tep=
id with construction activity behind last year's pace, but demand may beon =
the way back again with the shock of the new administration subsiding and t=
ariff policies are worked out by the giant and resilient US economy. Constr=
uction starts rebounded across non-residential, industrial and residential =
sectors in May, beating the soft April construction starts.

Rebar remains the weaker of the long products, with some inventories in the=
 Gulf region as well as many cargoes en route that will be caught up in the=
 tariff increase. Importers are anxiously waiting to see if the domestic pr=
ices will continue to lift so that they can pass the increased cost to thei=
r buyers.
New orders are not yet possible with a massive disadvantage of paying 50%, =
the domestic pricing should go up at least another round or two to make the=
 imports economically attractive again.

Wire rod scenario is quite different. Left with aging wire rod mills, and n=
o new investments in new wire rod production, downstream wire producers hav=
e to supplement their consumption with imports, even though imports may be =
higher priced than the domestic prices right now. The main import source, C=
anadian imports, mainly in sophisticated grades continue to come at higher =
prices than the domestic prices. However, Canada is strugglingto export any=
 low carbon industrial quality wire rod as they are no longer competitive w=
ith domestic mills and other foreign sources.

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l orders arrive on time, every time. With real-time inventory tracking, fle=
xible logistics, and a commitment to customer service, we=E2=80=99re your t=
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From our content partner, SteelOrbis

http://steelorbis.com

US import rebar and wire rod prices steady to up as importers take cues fro=
m domestic price movements
Friday, 20 June 2025 19:18:49 (GMT+3) San Diego
US import rebar and wire rod pricing was mostly steady to slightly higher. =
Importers are facing higher delivered costs amid ongoing Section 232 steel =
tariffs and are finding few buyers willing to accept higher price offers, e=
ven as domestic prices continue to trend steady to higher, market insiders =
told SteelOrbis this week.
According to insiders, the June 4 doubling of steel tariffs from 25 percent=
 to 50 percent could increase the delivered price of imported supplies by $=
6.00-$7.00/cwt., rendering much imported material uncompetitive against dom=
estic supplies. Unless in-transit cargoes are sold at distressed prices, hi=
gher import pricing will enable domestic producers to raise prices further,=
 potentially allowing importers to squeeze in limited sales at some point, =
they said.

=E2=80=9COn the import rebar side, we heard offers at $42.60/cwt ($852/nt o=
r $939/mt) upriver barge and another at $41.95/cwt ($839/nt or $925/mt) for=
 September arrival, but we=E2=80=99re not seeing much traction with no new =
sales concluded,=E2=80=9D one import rebar market insider told SteelOrbis.
Since the week of June 4, when new 50 percent tariffs were announced, Steel=
Orbis data shows that the average domestic rebar price has risen 6.6 percen=
t to $40.50/cwt. ($810/nt or $893/mt), while the average import rebar price=
 has risen 16.9 percent to $41.50/cwt. ($830/nt or $915/mt). For wire rod, =
domestic and import prices have remained fairly steady, rising an average o=
f 2.2 percent to an average of $46.00/cwt. ($920/nt or $1,014/mt).
=E2=80=9CInternational long steel pricing hasn=E2=80=99t changed much, but =
tariffs are up,=E2=80=9D commented another long steel importer. =E2=80=9CSe=
llers aren=E2=80=99t offering too much supply right now because, with the o=
ngoing 50 percent tariffs, import pricing just doesn=E2=80=99t work. Howeve=
r, we might get some more room on the import side with July scrap seen stea=
dy to higher.=E2=80=9D
Following a mostly sideways June scrap settlement, July scrap is currently =
seen as steady to potentially higher, mostly due to expectations of fairly =
steady domestic demand from mills in the third quarter and potentially high=
er export demand for scrap next month, according to insiders.
On the US Gulf Coast, amid continued reports of high inventory, import reba=
r on a loaded truck basis in the Houston area was last offered at $41.00-$4=
2.00/cwt., or an average of $41.50/cwt., steady with a week earlier but up =
from $35.00-$36.00/cwt., or an average of $35.50/cwt., two weeks ago. Inven=
tory from Mexico staged in Texas on a loaded truck basis is offered at $40.=
00-$42.00/cwt., up from $39.50-$40.00/cwt. one week earlier. However, tradi=
ng remains muted.
=E2=80=9CImport offers have stabilized at higher levels supported by tariff=
s and limited new offers,=E2=80=9D a Mexican long steel insider told SteelO=
rbis.
In the imported wire rod segment, pricing increased this week, though tradi=
ng remains scarce, due to increased competition from domestic suppliers. Mo=
st transactions are priced at $45.50-$46.50/cwt. ($910-$930/nt or $1,003-$1=
,025/mt), up from the previous week's average price of $45.00/cwt.($900/nt =
or $992/mt).
According to insiders, the recent $40/nt price increase for domestic wire r=
od from steelmaker Nucor is expected to maintain strong wire rod pricing in=
 the near term. Most of the price increase is expected to be accepted by th=
e market, especially since import prices on the US Gulf Coast are near pari=
ty. The future of domestic wire and rod production from Peoria, Illinois-ba=
sed Liberty Steel remains uncertain, as insiders tell SteelOrbis that =E2=
=80=9Csome issues remain with the plant.=E2=80=9D

US domestic rebar prices remain unchanged for now, while wire rod offers ri=
se
Thursday, 19 June 2025 17:48:01 (GMT+3) San Diego
US domestic long product prices have moved sideways to slightly up this wee=
k, primarily due to the absence of imports and cautious expectations for up=
ward movement in July scrap prices, rather than an improvement in local dem=
and.
In the weekly rebar spot markets, the domestic supply was assessed on an FO=
B mill basis, with most transactions noted at $40.00-41.00/cwt. ($800-820/n=
t or$882-904/mt), or on average $40.50/cwt. ($810/nt or $893/mt), unchanged=
 from seven days ago. Some market sources expect workable rebar prices to i=
nch up slightly in the coming weeks, as some restocking is expected. Howeve=
r, no dramatic increases are anticipated, at least for now.
=E2=80=9CThere is too much uncertainty for people (buyers) to proceed with =
substantial bookings. We currently have a 50% tax blocking imports, but onl=
y God and Trump know how the situation will develop further,=E2=80=9D
an international trader told SteelOrbis.
=E2=80=9CThings are not quite the same now as they were after the Section 2=
32 measures were first introduced several years ago.=E2=80=9D
In the domestic wire rod market, most transactions were reported at an aver=
age of $46.00/cwt. ($920/nt or $1,014/mt), up $1.00/cwt. ($20/nt or$22/mt) =
from seven days ago. The domestic wire rod price is trending upward this we=
ek, despite the more plentiful supply.
=E2=80=9CLiberty Steel is active,=E2=80=9D
said a SteelOrbis insider.
=E2=80=9CThey are producing as much as they can despite some ongoing issues=
 at the plant.=E2=80=9D

July US scrap outlook seen mostly sideways, though some Midwest suppliers e=
xpect higher prices
Thursday, 19 June 2025 23:05:25 (GMT+3) San Diego
US scrap price expectations for July are seen mostly sideways in market sur=
veys this week, though some Midwest scrap suppliers told SteelOrbis that pr=
icing could rise next month as supply appears to be declining.

This would contrast with the recent sideways-to-higher June scrap market se=
ttlement, which occurred amid continued limited demand for export scrap and=
 the implementation of doubled 50 percent steel tariffs by the US Trump adm=
inistration on June 4.

=E2=80=9CI think supply is tighter and demand is picking up,=E2=80=9D comme=
nted one Midwest scrap supplier. =E2=80=9CWe=E2=80=99re hearing sideways to=
 up $20-30/gt for next month.=E2=80=9D

Another scrap insider disagreed but did not offer an opinion on price. =E2=
=80=9CI highly doubt that report because the domestic market is at least th=
ree weeks away from settling for July.=E2=80=9D

Still another insider thought it was too early to predict the July scrap si=
tuation. =E2=80=9CMaybe next week, we=E2=80=99ll get some ideas on the call=
 for July.=E2=80=9D

While reaching a clear consensus on July scrap remains problematic, especia=
lly given the recent unrest in the Middle East, the recent movement in the =
finished steel markets would seem to support a potentially higher July sett=
lement.

In the finished steel markets, spot pricing continues to rise amid reports =
that the 50 percent steel tariffs will reduce import availability, allowing=
 domestic suppliers to raise prices. However, more reports of buyer resista=
nce to continued higher prices are beginning to emerge.

=E2=80=9CThere=E2=80=99s a lot of buyer resistance (to higher prices) in th=
is zip code,=E2=80=9D said one Midwest flat steel insider. =E2=80=9CMills w=
ill get prices up eventually...by the mid-summer ... probably not,=E2=80=9D=
 he said. =E2=80=9CBut, as inventories dwindle with zero imports, TINA (the=
re is no alternative) happens.=E2=80=9D

Based on the current sideways-to-higher July call, Midwest prime busheling =
scrap in the Ohio Valley could settle at or above the $435-460/gt ($442-467=
/mt) June settle, while shredded scrap might settle at or above $375-380/gt=
($381-386/mt). According to scrap insiders, Ohio Valley P&S and HMS grades =
could settle at or above $361-371/gt ($367-377/mt), and $325-345/gt ($330-3=
50/mt), respectively.

In the US Northeast, a sideways to potentially higher expectation for July =
might resulting busheling scrap prices settling at or above $380-400/gt ($3=
86- 406/mt), while shredded grades could settle at or higher than $325-335/=
gt($330-340/mt). P&S and HMS grades could settle at or above $295-305/gt($3=
00-310/mt), and 305-320/gt ($310-325/mt), respectively, insiders told Steel=
Orbis.

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:#000000;padding:0px;margin: 0;text-align: left; line-height: 17pt;"><font =
color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); f=
ont-size: 14pt; line-height: 17pt;"></font></p><span style=3D"line-height: =
17pt;"><font style=3D"line-height: 17pt;">

<span style=3D"line-height: 17pt;"></span></font></span><span style=3D"line=
-height: 17pt;"><font style=3D"font-size: 14pt; line-height: 17pt;">

</font><span style=3D"line-height: 17pt;"><font style=3D"font-size: 14pt; l=
ine-height: 17pt;">

<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;"><span =
style=3D"font-size: 14pt; font-family: Arial, Helvetica; line-height: 17pt;=
"></span></p></font></span></span></span></font></span></font></span></span=
></span></b></font>

<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 =
color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); f=
ont-size: 14pt; line-height: 17pt;"><b></b></font></p><span style=3D"line-h=
eight: 17pt;"><font style=3D"font-size: 14pt; line-height: 17pt;"><b></b></=
font></span><span style=3D"line-height: 17pt;">

<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 =
color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); f=
ont-size: 14pt; line-height: 17pt;"><b style></b></font></p><span style=3D"=
line-height: 17pt;">

<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 =
color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); f=
ont-size: 14pt; line-height: 17pt;"><b></b></font></p><span style=3D"line-h=
eight: 17pt;">

<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 =
color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 14pt; line-=
height: 17pt;"><b style></b></font></p><span style=3D"line-height: 17pt;"><=
b><font style=3D"line-height: 17pt;">

<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 =
color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); f=
ont-size: 14pt; line-height: 17pt;"></font></p></font></b></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;"><span style=3D=
"font-size: 18.6667px; line-height: 17pt;"><b></b></span></p></span></span>=
</span><font style=3D"font-size: 16pt; line-height: 17pt;"><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 color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); line-height: 17pt=
;"><b></b></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 color=3D"#000000" face=3D"Arial, Helvetica" style=3D"c=
olor: rgb(0, 0, 0); line-height: 17pt;"><b></b></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 color=3D"#000000"=
 face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); line-height: 17pt;=
"><b></b></font></p><p style=3D"line-height:1.7;font-family:Arial,verdana;f=
ont-size:12px; color:#000000;padding:0px;margin: 0;text-align: left; line-h=
eight: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"co=
lor: rgb(0, 0, 0); line-height: 17pt;"><b></b></font></p><span style=3D"lin=
e-height: 17pt;"><p style=3D"line-height:1.7;font-family:Arial,verdana;font=
-size:12px; color:#000000;padding:0px;margin: 0;text-align: left; line-heig=
ht: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color=
: rgb(0, 0, 0); line-height: 17pt;"><b></b></font></p></span><span style=3D=
"line-height: 17pt;"><font style=3D"line-height: 17pt;"><b></b></font></spa=
n><span style=3D"line-height: 17pt;"><p style=3D"line-height:1.7;font-famil=
y:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-al=
ign: left; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helve=
tica" style=3D"color: rgb(0, 0, 0); line-height: 17pt;"><b></b></font></p><=
/span><span style=3D"line-height: 17pt;"><p style=3D"line-height:1.7;font-f=
amily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;tex=
t-align: left; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, H=
elvetica" style=3D"color: rgb(0, 0, 0); line-height: 17pt;"><b></b></font><=
/p></span><span style=3D"line-height: 17pt;"><p style=3D"line-height:1.7;fo=
nt-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0=
;text-align: left; line-height: 17pt;"><b></b></p><span style=3D"line-heigh=
t: 17pt;"><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:1=
2px; color:#000000;padding:0px;margin: 0;text-align: left; line-height: 17p=
t;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0=
, 0, 0); line-height: 17pt;"><b style></b></font></p></span></span><b style=
><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; colo=
r:#000000;padding:0px;margin: 0;text-align: left; line-height: 17pt;"><font=
 color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); =
line-height: 17pt;"></font></p><p style=3D"line-height:1.7;font-family:Aria=
l,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: l=
eft; line-height: 17pt;"></p></b></font><p style=3D"line-height:1.7;font-fa=
mily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text=
-align: left; line-height: 17pt;"><font face=3D"Arial, Helvetica"><span sty=
le=3D"font-size: 21.3333px;"><b></b></span></font></p><span><font style><p =
style=3D"line-height:1.7;font-family:Arial,verdana; color:#000000;padding:0=
px;margin: 0;font-size: 14pt; line-height: 17pt; text-align: left;"><font c=
olor=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0);"><=
b></b></font></p><p style=3D"line-height:1.7;font-family:Arial,verdana; col=
or:#000000;padding:0px;margin: 0;font-size: 14pt; line-height: 17pt; text-a=
lign: left;"><font style><b style></b></font></p><b style>

<p style=3D"line-height:1.7;font-family:Arial,verdana; color:#000000;paddin=
g:0px;margin: 0;font-size: 14pt; line-height: 17pt; text-align: left;"><spa=
n style=3D"font-family: Arial, Helvetica;"><font style>

</font></span></p><p style=3D"line-height:1.7;font-family:Arial,verdana; co=
lor:#000000;padding:0px;margin: 0;font-size: 14pt; line-height: 17pt; text-=
align: left;"><span style=3D"font-family: Arial, Helvetica;"><font style></=
font></span></p>

<p style=3D"line-height:1.7;font-family:Arial,verdana; color:#000000;paddin=
g:0px;margin: 0;font-size: 14pt; line-height: 17pt; text-align: left;"><spa=
n style=3D"font-family: Arial, Helvetica;"><font style></font></span></p><p=
 style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0=
px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000" =
face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); font-size: 14pt;"><=
span></span></font></p><p style=3D"font-family:Arial,verdana;font-size:12px=
; color:#000000;padding:0px;margin: 0;line-height:17pt; text-align: left;">=
<font face=3D"Arial, Helvetica"><span style=3D"font-size: 18.6667px;"></spa=
n></font></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#0=
00000;padding:0px;margin: 0;line-height:17pt; text-align: left;"><span styl=
e=3D"font-size: 18.6667px; font-family: Arial, Helvetica;"></span></p><span=
><font style><p style=3D"font-family:Arial,verdana;font-size:12px; color:#0=
00000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><b style>=
<b style=3D"font-family: Arial, Helvetica;"><font style><font color=3D"#000=
000" face=3D"Arial, Helvetica" style></font></font></b></b></p><p style=3D"=
font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin:=
 0;line-height: 17pt; text-align: left;"><b style><b style=3D"font-family: =
Arial, Helvetica;"><font style><font color=3D"#000000" face=3D"Arial, Helve=
tica" style><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"colo=
r: rgb(0, 0, 0); font-size: 14pt;"></font></font></font></b></b></p><span>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height:17pt; text-align: left;"><font color=3D"#000000"=
 face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0);"><font style=3D"fo=
nt-size: 14pt;">

</font></font></p><p style=3D"font-family:Arial,verdana;font-size:12px; col=
or:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><fon=
t style=3D"font-size: 14pt;"><span style=3D"font-family: Arial, Helvetica;"=
></span></font></p><span>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); font-size: 14pt;"=
></font></p></span></span></font></span></b></font></span><span><b>

</b><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;pad=
ding:0px;margin: 0;line-height:17pt; text-align: left;"><span>

</span></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000=
000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=
=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); font-s=
ize: 16pt;"><b></b></font></p></span><span>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height:17pt; text-align: left;"><span style=3D"font-fam=
ily: Arial, Helvetica; font-weight: bold;"><font style=3D"font-size: 16pt;"=
><span></span><span></span><span>

</span></font></span></p><p style=3D"font-family:Arial,verdana;font-size:12=
px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left=
;"><font style><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"c=
olor: rgb(0, 0, 0); font-size: 14pt;"><b style></b></font></font></p></span=
><span><b>

</b><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;pad=
ding:0px;margin: 0;line-height:17pt; text-align: left;"><font color=3D"#000=
000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); font-size: 14p=
t;"><b style><span></span></b></font></p><p style=3D"font-family:Arial,verd=
ana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; =
text-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=
=3D"color: rgb(0, 0, 0);"><b style><font color=3D"#000000" face=3D"Arial, H=
elvetica" style=3D"color: rgb(0, 0, 0); font-size: 14pt;">In the aftermath =
of tariff increase, more price increases are imminent</font></b></font></p>=
</span><p style=3D"margin: 0;padding: 0px;font-family:Arial, Helvetica, san=
s-serif; color:#000000;line-height:1.7;font-family:Arial,verdana;font-size:=
12px;padding:0px;"></p><p style=3D"font-family:Arial,verdana;font-size:12px=
; color:#000000;padding:0px;margin: 0;line-height:17pt; text-align: left;">=
<font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;=
color:#000000;"><b><br></b></font></p><p style=3D"font-family:Arial,verdana=
;font-size:12px; color:#000000;padding:0px;margin: 0;line-height:17pt; text=
-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;"><b><span>

</span></b></font></p><p style=3D"font-family:Arial,verdana;font-size:12px;=
 color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;">=
<font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;=
color:#000000;"><b><font color=3D"#000000" face=3D"Arial, Helvetica" style=
=3D"font-size: 12pt;color:#000000;">Both Rebar and Wire Rod prices strongly=
 trending up</font></b></font></p><font color=3D"#000000" face=3D"Arial, He=
lvetica" style=3D"font-size: 12pt;color:#000000;"><b>

</b></font><p style=3D"margin: 0;padding: 0px;font-family:Arial, Helvetica,=
 sans-serif; color:#000000;line-height:1.7;font-family:Arial,verdana;font-s=
ize:12px;padding:0px;"></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><b><fo=
nt color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;col=
or:#000000;"><b style=3D"font-size: 12pt; font-family: Arial, Helvetica;"><=
font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"=
></font></b></font></b></font></p><p style=3D"margin: 0;padding: 0px;font-f=
amily:Arial, Helvetica, sans-serif; color:#000000;line-height:1.7;font-fami=
ly:Arial,verdana;font-size:12px;padding:0px;"></p><font color=3D"#000000" f=
ace=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><b>

</b></font><p style=3D"margin: 0;padding: 0px;font-family:Arial, Helvetica,=
 sans-serif; color:#000000;line-height:1.7;font-family:Arial,verdana;font-s=
ize:12px;padding:0px;"></p>

<b style><p style=3D"font-family:Arial,verdana;font-size:12px; color:#00000=
0;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=
=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#0000=
00;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: =
12pt;color:#000000;"><b><font color=3D"#000000" face=3D"Arial, Helvetica" s=
tyle=3D"font-size: 12pt;color:#000000;"><font><font><font><font color=3D"#0=
00000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><=
/font></font></font></font></font></b></font></font></p><font color=3D"#000=
000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><b>=
<font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;=
color:#000000;"><font><font><font>

</font></font></font></font></b></font></b><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>=
<b style><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-si=
ze: 12pt;color:#000000;"><font color=3D"#000000" face=3D"Arial, Helvetica" =
style=3D"font-size: 12pt;color:#000000;">

</font></font></b><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><b style><font color=3D"#000000" face=3D"=
Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">

</font><p style=3D"margin: 0;padding: 0px;font-family:Arial, Helvetica, san=
s-serif; color:#000000;line-height:1.7;font-family:Arial,verdana;font-size:=
12px;padding:0px;"></p><font style>

</font></b><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000=
000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font style=
><b style><font style><b><b style=3D"font-family: Arial, Helvetica;"><font =
style=3D"font-size: 12pt;"><font color=3D"#000000" face=3D"Arial, Helvetica=
" style=3D"font-size: 12pt;"><font color=3D"#000000" face=3D"Arial, Helveti=
ca" style=3D"font-size: 12pt;color:#000000;"></font></font></font></b></b><=
/font></b></font></p><font style><b style><font style><b><b style=3D"font-f=
amily: Arial, Helvetica;"><font style=3D"font-size: 12pt;"><font color=3D"#=
000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;">


</font></font></b></b></font></b></font><p style=3D"margin: 0;padding: 0px;=
font-family:Arial, Helvetica, sans-serif; color:#000000;line-height:1.7;fon=
t-family:Arial,verdana;font-size:12px;padding:0px;"></p><p style=3D"margin:=
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e-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; c=
olor:#000000;line-height:1.7;font-family:Arial,verdana;font-size:12px;paddi=
ng: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, Helvetica, sans-serif=
; color:#000000;line-height:1.7;font-family:Arial,verdana;font-size:12px;pa=
dding:0px;"></p><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"=
font-size: 12pt;color:#000000;"><b><font color=3D"#000000" face=3D"Arial, H=
elvetica" style=3D"font-size: 12pt;color:#000000;">

</font></b></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 color=3D"#000000" face=3D"Arial, He=
lvetica" style=3D"font-size: 12pt;color:#000000;"><b>

</b></font><p style=3D"margin: 0;padding: 0px;font-family:Arial, Helvetica,=
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ize:12px;padding:0px;"></p><p style=3D"margin: 0;padding: 0px;font-family:A=
rial, Helvetica, sans-serif; color:#000000;line-height:1.7;font-family:Aria=
l,verdana;font-size:12px;padding:0px;"></p><div><span style=3D"line-height:=
 17pt;"><span style=3D"line-height: 17pt;"><span style=3D"line-height: 17pt=
;"><b><p style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px;=
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<font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;=
 color: rgb(0, 0, 0); line-height: 17pt;"><span style=3D"line-height: 17pt;=
"></span></font></p></b></span><p style=3D"line-height:1.7;font-family:Aria=
l,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: l=
eft; line-height: 17pt;"><b><font color=3D"#000000" face=3D"Arial, Helvetic=
a" style=3D"font-size: 12pt; color: rgb(0, 0, 0); line-height: 17pt;"><font=
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</p><span>

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:0px;margin: 0;line-height:17pt; text-align: left;"><font color=3D"#000000"=
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/font></font></p><span>

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:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
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></p><span>

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</p><span>

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:0px;margin: 0;line-height:17pt; text-align: left;"><font color=3D"#000000"=
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</p></span><span>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height:17pt; text-align: left;"><font color=3D"#000000"=
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</p><span>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height:17pt; text-align: left;"><font color=3D"#000000"=
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</p><span>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height:17pt; text-align: left;"><font color=3D"#000000"=
 face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">As the =
dust is settling on Trump's new and improved steel tariffs of 50%, domestic=
 mills rushed and announced price increases for both rebars ($60 /ton are s=
ticking) and wire rods ($40 /ton are sticking).&nbsp; The domestic mills we=
re measured and conservative in their increases, but as June is coming to a=
 close, there are more price increases looming.&nbsp; And this time, scrap =
prices may also go up a notch, helping the domestic price rally to continue=
.&nbsp;&nbsp;</font></p><p style=3D"font-family:Arial,verdana;font-size:12p=
x; color:#000000;padding:0px;margin: 0;line-height:17pt; text-align: left;"=
><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt=
;color:#000000;"><br></font></p><p style=3D"font-family:Arial,verdana;font-=
size:12px; color:#000000;padding:0px;margin: 0;line-height:17pt; text-align=
: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-si=
ze: 12pt;color:#000000;">Price increases are all supply driven at the&nbsp;=
moment.&nbsp; The steel demand is tepid with construction activity behind l=
ast year's pace, but demand may be&nbsp;on the way back again with the shoc=
k of the new administration subsiding and tariff policies are worked out by=
 the giant and resilient US economy.&nbsp; Construction starts rebounded ac=
ross non-residential, industrial and residential sectors in May, beating th=
e soft April construction starts.&nbsp;&nbsp;</font></p><p style=3D"font-fa=
mily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line=
-height:17pt; text-align: left;"><font color=3D"#000000" face=3D"Arial, Hel=
vetica" style=3D"font-size: 12pt;color:#000000;"><br></font></p><p style=3D=
"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin=
: 0;line-height:17pt; text-align: left;"><font color=3D"#000000" face=3D"Ar=
ial, Helvetica" style=3D"font-size: 12pt;color:#000000;">Rebar remains the =
weaker of the long products, with some inventories in the Gulf region as we=
ll as many cargoes en route that will be caught up in the tariff increase. =
Importers are anxiously waiting to see if the domestic prices will continue=
 to lift so that they can pass the increased cost to their buyers.&nbsp;&nb=
sp;</font></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#=
000000;padding:0px;margin: 0;line-height:17pt; text-align: left;"><font col=
or=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#00=
0000;">New orders are not yet possible with a massive disadvantage of payin=
g 50%, the domestic pricing should go up at least another round or two to m=
ake the imports economically attractive again.&nbsp;&nbsp;</font></p><p sty=
le=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;m=
argin: 0;line-height:17pt; text-align: left;"><font color=3D"#000000" face=
=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><br></font><=
/p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padd=
ing:0px;margin: 0;line-height:17pt; text-align: left;"><font color=3D"#0000=
00" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">Wire=
 rod scenario is quite different. Left with aging wire rod mills, and no ne=
w investments in new wire rod production, downstream wire producers have to=
 supplement their consumption with imports, even though imports may be high=
er priced than the domestic prices right now. The main import source, Canad=
ian imports, mainly in sophisticated grades continue to come at higher pric=
es than the domestic prices.&nbsp; However, Canada is struggling&nbsp;to ex=
port any low carbon industrial quality wire rod as they are no longer compe=
titive with domestic mills and other foreign sources.&nbsp;</font></p>

</span><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;=
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<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font style=3D"font-si=
ze: 12pt;"><b></b></font></p><span><font style=3D"font-size: 12pt;">

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

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
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</b></font></p><span>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0);"><font style=3D"f=
ont-size: 14pt;"><b style><span>

Need Steel Fast? Count on StaalX</span></b></font></font></p><p style=3D"fo=
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At StaalX, we understand that time is money. That&rsquo;s why we&rsquo;ve b=
uilt a streamlined, reliable fulfillment process that ensures your steel or=
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eel sourcing can be.

</font></font></p><p style=3D"margin: 0;padding: 0px;font-family:Arial, Hel=
vetica, sans-serif; color:#000000;line-height:1.7;font-family:Arial,verdana=
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=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
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=09    <tbody><tr>
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ght: 25pt; text-align: left;"><b style=3D"font-family: Arial, Helvetica; ba=
ckground-color: transparent;"><font style=3D"font-size: 14pt;">From our con=
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kit-text-size-adjust: 100%;" width=3D"100%">
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            <tbody><tr><td class=3D"paddingcomp" style=3D"border-collapse:c=
ollapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;padding:7px =
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:0px none ;   border-bottom:0px none ;padding-top:7px;padding-bottom:7px;pa=
dding-right:15px;padding-left:15px;">
             =09    =09=09<div componentlineheight=3D"17pt" style=3D"line-h=
eight: 17pt;"><p style=3D"margin: 0;padding: 0px;font-family:Arial, Helveti=
ca, sans-serif; color:#000000;line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px;padding:0px;"><span>




















</span></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000=
000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=
=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); font-s=
ize: 14pt;"><b><span>US import rebar and wire rod prices steady to up as im=
porters take cues from domestic price movements</span></b></font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"MS Serif, New York, serif" style=3D"font-size: 12pt;color:#000000=
;">Friday, 20 June 2025 19:18:49 (GMT+3) San Diego</font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">&nbsp;=
</font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span>=
US import rebar and wire rod pricing was mostly steady to slightly higher. =
Importers are facing higher delivered costs amid ongoing Section 232 steel =
tariffs and are finding few buyers willing to accept higher price offers, e=
ven as domestic prices continue to trend steady to higher, market insiders =
told SteelOrbis this week.</span></font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">&nbsp;=
</font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span>=
According to insiders, the June 4 doubling of steel tariffs from 25 percent=
 to 50 percent could increase the delivered price of imported supplies by $=
6.00-$7.00/cwt., rendering much imported material uncompetitive against dom=
estic supplies. Unless in-transit cargoes are sold at distressed prices, hi=
gher import pricing will enable domestic producers to raise prices further,=
 potentially allowing importers to squeeze in limited sales at some point, =
they said.&nbsp;</span></font></p><p style=3D"font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-al=
ign: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font=
-size: 12pt;color:#000000;"><span><br></span></font></p><p style=3D"font-fa=
mily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line=
-height: 17pt; text-align: left;"><font color=3D"#000000" face=3D"Arial, He=
lvetica" style=3D"font-size: 12pt;color:#000000;"><span>&ldquo;On the impor=
t rebar side, we heard offers at $42.60/cwt ($852/nt or $939/mt) upriver ba=
rge and another at $41.95/cwt ($839/nt or $925/mt) for September arrival, b=
ut we&rsquo;re not seeing much traction with no new sales concluded,&rdquo;=
 one import rebar market insider told SteelOrbis.</span></font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">&nbsp;=
</font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span>=
Since the week of June 4, when new 50 percent tariffs were announced, Steel=
Orbis data shows that the average domestic rebar price has risen 6.6 percen=
t to $40.50/cwt. ($810/nt or $893/mt), while the average import rebar price=
 has risen 16.9 percent to $41.50/cwt. ($830/nt or $915/mt). For wire rod, =
domestic and import prices have remained fairly steady, rising an average o=
f 2.2 percent to an average of $46.00/cwt. ($920/nt or $1,014/mt).</span></=
font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">&nbsp;=
</font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span>=
&ldquo;International long steel pricing hasn&rsquo;t changed much, but tari=
ffs are up,&rdquo; commented another long steel importer. &ldquo;Sellers ar=
en&rsquo;t offering too much supply right now because, with the ongoing 50 =
percent tariffs, import pricing just doesn&rsquo;t work. However, we might =
get some more room on the import side with July scrap seen steady to higher=
.&rdquo;</span></font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">&nbsp;=
</font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span>=
Following a mostly sideways June scrap settlement, July scrap is currently =
seen as steady to potentially higher, mostly due to expectations of fairly =
steady domestic demand from mills in the third quarter and potentially high=
er export demand for scrap next month, according to insiders.</span></font>=
</p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">&nbsp;=
</font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span>=
On the US Gulf Coast, amid continued reports of high inventory, import reba=
r on a loaded truck basis in the Houston area was last offered at $41.00-$4=
2.00/cwt., or an average of $41.50/cwt., steady with a week earlier but up =
from $35.00-$36.00/cwt., or an average of $35.50/cwt., two weeks ago. Inven=
tory from Mexico staged in Texas on a loaded truck basis is offered at <spa=
n>$40.00-$42.00/cwt., up from $39.50-$40.00/cwt. one week earlier. However,=
 trading remains muted.</span></span></font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">&nbsp;=
</font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span>=
&ldquo;Import offers have stabilized at higher levels supported by tariffs =
and limited new offers,&rdquo; a Mexican long steel insider told SteelOrbis=
.</span></font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">&nbsp;=
</font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span>=
In the imported wire rod segment, pricing increased this week, though tradi=
ng remains scarce, due to increased competition from domestic suppliers. Mo=
st transactions are priced at $45.50-$46.50/cwt. ($910-$930/nt or $1,003-$1=
,025/mt), up from the previous week's average price of $45.00/cwt.($900/nt =
or $992/mt).</span></font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">&nbsp;=
</font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span>=
According to insiders, the recent $40/nt price increase for domestic wire r=
od from steelmaker Nucor is expected to maintain strong wire rod pricing in=
 the near term. Most of the price increase is expected to be accepted by th=
e market, especially since import prices on the US Gulf Coast are near pari=
ty. The future of domestic wire and rod production from Peoria, Illinois-ba=
sed Liberty Steel remains uncertain, as insiders tell SteelOrbis that &ldqu=
o;some issues remain with the plant.&rdquo;</span></font></p>

<p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">&nbsp;=
</font></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000=
000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=
=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#0000=
00;"><br></font></p><p style=3D"font-family:Arial,verdana;font-size:12px; c=
olor:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><f=
ont color=3D"#000000" style=3D"color: rgb(0, 0, 0);">




















</font></p><p style=3D"line-height:1.7;font-size:12px; color:#000000;paddin=
g:0px;margin: 0;font-family: Arial, Helvetica; line-height: 17pt; text-alig=
n: left;"><font color=3D"#000000" style=3D"color: rgb(0, 0, 0);"><font colo=
r=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0); font-=
size: 14pt;"><b><span>US domestic rebar prices remain unchanged for now, wh=
ile wire rod offers rise</span></b></font></font></p><font color=3D"#000000=
" style=3D"color: rgb(0, 0, 0);">

<p style=3D"line-height:1.7;font-family:Arial,verdana; color:#000000;paddin=
g:0px;margin: 0;font-size: 12pt; line-height: 17pt; text-align: left;"><fon=
t color=3D"#000000" face=3D"MS Serif, New York, serif" style=3D"font-size: =
12pt; color: rgb(0, 0, 0);">Thursday, 19 June 2025 17:48:01 (GMT+3) San Die=
go</font></p>

<p style=3D"line-height:1.7;font-size:12px; color:#000000;padding:0px;margi=
n: 0;font-family: Arial, Helvetica; font-size: 12pt; line-height: 17pt; tex=
t-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"=
font-size: 12pt;color:#000000;">&nbsp;</font></p>

<p style=3D"line-height:1.7;font-size:12px; color:#000000;padding:0px;margi=
n: 0;font-family: Arial, Helvetica; font-size: 12pt; line-height: 17pt; tex=
t-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"=
font-size: 12pt;color:#000000;"><span>US domestic long product prices have =
moved sideways to slightly up this week, primarily due to the absence of im=
ports and cautious expectations for upward movement in July scrap prices, r=
ather than an improvement in local demand.</span></font></p>

<p style=3D"line-height:1.7;font-size:12px; color:#000000;padding:0px;margi=
n: 0;font-family: Arial, Helvetica; font-size: 12pt; line-height: 17pt; tex=
t-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"=
font-size: 12pt;color:#000000;">&nbsp;</font></p>

<p style=3D"line-height:1.7;font-size:12px; color:#000000;padding:0px;margi=
n: 0;font-family: Arial, Helvetica; font-size: 12pt; line-height: 17pt; tex=
t-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"=
font-size: 12pt;color:#000000;"><span>In the weekly rebar spot markets, the=
 domestic supply was assessed on an FOB mill basis, with most transactions =
noted at $40.00-41.00/cwt. ($800-820/nt or$882-904/mt), or on average $40.5=
0/cwt. ($810/nt or $893/mt), unchanged from seven days ago. Some market sou=
rces expect workable rebar prices to inch up slightly in the coming weeks, =
as some restocking is expected. However, no dramatic increases are anticipa=
ted, at least for now.
&ldquo;There is too much&nbsp; uncertainty for people (buyers) to proceed w=
ith substantial bookings. We currently have a 50% tax blocking imports, but=
 only God and Trump know how&nbsp; the situation will develop further,&rdqu=
o;
an international trader told SteelOrbis.
&ldquo;Things are not quite the same now as they were after the Section 232=
 measures were first introduced several years ago.&rdquo;</span></font></p>

<p style=3D"line-height:1.7;font-size:12px; color:#000000;padding:0px;margi=
n: 0;font-family: Arial, Helvetica; font-size: 12pt; line-height: 17pt; tex=
t-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"=
font-size: 12pt;color:#000000;">&nbsp;</font></p>

<p style=3D"line-height:1.7;font-size:12px; color:#000000;padding:0px;margi=
n: 0;font-family: Arial, Helvetica; font-size: 12pt; line-height: 17pt; tex=
t-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"=
font-size: 12pt;color:#000000;"><span>In the domestic wire rod market, most=
 transactions were reported at an average of $46.00/cwt. ($920/nt or $1,014=
/mt), up $1.00/cwt. ($20/nt or$22/mt) from seven days ago. The domestic wir=
e rod price is trending upward this week, despite the more plentiful supply=
.
&ldquo;Liberty Steel is active,&rdquo;
said a SteelOrbis insider.
&ldquo;They are producing as much as they can despite some ongoing issues a=
t the plant.&rdquo;</span></font></p><p style=3D"line-height:1.7;font-size:=
12px; color:#000000;padding:0px;margin: 0;font-family: Arial, Helvetica; fo=
nt-size: 12pt; line-height: 17pt; text-align: left;"><font color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span>=
<br></span></font></p><p style=3D"line-height:1.7;font-size:12px; color:#00=
0000;padding:0px;margin: 0;font-family: Arial, Helvetica; line-height: 17pt=
; text-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" styl=
e=3D"color: rgb(0, 0, 0);">

</font></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000=
000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color=
=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0);"><font=
 color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0);"=
><font style><font style=3D"font-size: 14pt;"><b style><span>July US scrap =
outlook seen mostly sideways, though some Midwest suppliers expect higher p=
rices</span></b></font></font></font></font></p><font color=3D"#000000" sty=
le=3D"color: rgb(0, 0, 0);"><font style=3D"font-size: 12pt;"><p style=3D"fo=
nt-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0=
;line-height: 17pt; text-align: left;"><font color=3D"#000000" style=3D"fon=
t-size: 12pt; color: rgb(0, 0, 0);"><font face=3D"MS Serif, New York, serif=
" style>Thursday, 19 June 2025 23:05:25 (GMT+3) San Diego</font></font></p>=
<p style=3D"line-height:1.7;font-size:12px; color:#000000;padding:0px;margi=
n: 0;font-family: Arial, Helvetica; line-height: 17pt; text-align: left;"><=
font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;c=
olor:#000000;"><font>&nbsp;</font></font></p><p style=3D"line-height:1.7;fo=
nt-size:12px; color:#000000;padding:0px;margin: 0;font-family: Arial, Helve=
tica; line-height: 17pt; text-align: left;"><font color=3D"#000000" face=3D=
"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><font><span>US =
scrap price expectations for July are seen mostly sideways in market survey=
s this week, though some Midwest scrap suppliers told SteelOrbis that prici=
ng could rise next month as supply appears to be declining.&nbsp;</span></f=
ont></font></p><p style=3D"line-height:1.7;font-size:12px; color:#000000;pa=
dding:0px;margin: 0;font-family: Arial, Helvetica; line-height: 17pt; text-=
align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"fo=
nt-size: 12pt;color:#000000;"><font><span><span><br></span></span></font></=
font></p><p style=3D"line-height:1.7;font-size:12px; color:#000000;padding:=
0px;margin: 0;font-family: Arial, Helvetica; line-height: 17pt; text-align:=
 left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-siz=
e: 12pt;color:#000000;"><font><span><span>This would contrast with the rece=
nt sideways-to-higher June scrap market settlement, which occurred amid con=
tinued limited demand for export scrap and the implementation of doubled 50=
 percent steel tariffs by the US Trump administration on June 4.</span></sp=
an></font></font></p><p style=3D"line-height:1.7;font-size:12px; color:#000=
000;padding:0px;margin: 0;font-family: Arial, Helvetica; line-height: 17pt;=
 text-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=
=3D"font-size: 12pt;color:#000000;"><font><span><span><br></span></span></f=
ont></font></p><p style=3D"line-height:1.7;font-size:12px; color:#000000;pa=
dding:0px;margin: 0;font-family: Arial, Helvetica; line-height: 17pt; text-=
align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"fo=
nt-size: 12pt;color:#000000;"><font><span><span><span>&ldquo;I think supply=
 is tighter and demand is picking up,&rdquo; commented one Midwest scrap su=
pplier. &ldquo;We&rsquo;re hearing sideways to up $20-30/gt for next month.=
&rdquo;&nbsp;</span></span></span></font></font></p><p style=3D"line-height=
:1.7;font-size:12px; color:#000000;padding:0px;margin: 0;font-family: Arial=
, Helvetica; line-height: 17pt; text-align: left;"><font color=3D"#000000" =
face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><font><s=
pan><span><span><span><br></span></span></span></span></font></font></p><p =
style=3D"line-height:1.7;font-size:12px; color:#000000;padding:0px;margin: =
0;font-family: Arial, Helvetica; line-height: 17pt; text-align: left;"><fon=
t color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;colo=
r:#000000;"><font><span><span><span><span>Another scrap insider disagreed b=
ut did not offer an opinion on price. &ldquo;I highly doubt that report bec=
ause the domestic market is at least three weeks away from settling for Jul=
y.&rdquo;</span></span><br></span></span></font></font></p><p style=3D"line=
-height:1.7;font-size:12px; color:#000000;padding:0px;margin: 0;font-family=
: Arial, Helvetica; line-height: 17pt; text-align: left;"><font color=3D"#0=
00000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><=
font><span><span><span><span><br></span></span></span></span></font></font>=
</p><p style=3D"line-height:1.7;font-size:12px; color:#000000;padding:0px;m=
argin: 0;font-family: Arial, Helvetica; line-height: 17pt; text-align: left=
;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12=
pt;color:#000000;"><font><span><span><span><span><span>Still another inside=
r thought it was too early to predict the July scrap situation. &ldquo;Mayb=
e next week, we&rsquo;ll get some ideas on the call for July.&rdquo;&nbsp;<=
/span></span></span></span></span></font></font></p><p style=3D"line-height=
:1.7;font-size:12px; color:#000000;padding:0px;margin: 0;font-family: Arial=
, Helvetica; line-height: 17pt; text-align: left;"><font color=3D"#000000" =
face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><font><s=
pan><span><span><span><span><span><br></span></span></span></span></span></=
span></font></font></p><p style=3D"line-height:1.7;font-size:12px; color:#0=
00000;padding:0px;margin: 0;font-family: Arial, Helvetica; line-height: 17p=
t; text-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" sty=
le=3D"font-size: 12pt;color:#000000;"><font><span><span><span><span><span><=
span>While reaching a clear consensus on July scrap remains problematic, es=
pecially given the recent unrest in the Middle East, the recent movement in=
 the finished steel markets would seem to support a potentially higher July=
 settlement.&nbsp;</span></span></span></span></span></span></font></font><=
/p><p style=3D"line-height:1.7;font-size:12px; color:#000000;padding:0px;ma=
rgin: 0;font-family: Arial, Helvetica; line-height: 17pt; text-align: left;=
"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12p=
t;color:#000000;"><font><span><span><span><span><span><span><span><br></spa=
n></span></span></span></span></span></span></font></font></p><p style=3D"l=
ine-height:1.7;font-size:12px; color:#000000;padding:0px;margin: 0;font-fam=
ily: Arial, Helvetica; line-height: 17pt; text-align: left;"><font color=3D=
"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;=
"><font><span><span><span><span><span><span><span>In the finished steel mar=
kets, spot pricing continues to rise amid reports that the 50 percent steel=
 tariffs will reduce import availability, allowing domestic suppliers to ra=
ise prices. However, more reports of buyer resistance to continued higher p=
rices are beginning to emerge.&nbsp;</span></span></span></span></span></sp=
an></span></font></font></p><p style=3D"line-height:1.7;font-size:12px; col=
or:#000000;padding:0px;margin: 0;font-family: Arial, Helvetica; line-height=
: 17pt; text-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica=
" style=3D"font-size: 12pt;color:#000000;"><font><span><span><span><span><s=
pan><span><span><span><br></span></span></span></span></span></span></span>=
</span></font></font></p><p style=3D"line-height:1.7;font-size:12px; color:=
#000000;padding:0px;margin: 0;font-family: Arial, Helvetica; line-height: 1=
7pt; text-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" s=
tyle=3D"font-size: 12pt;color:#000000;"><font><span><span><span><span><span=
><span><span><span>&ldquo;There&rsquo;s a lot of buyer resistance (to highe=
r prices) in this zip code,&rdquo; said one Midwest flat steel insider. &ld=
quo;Mills will get prices up eventually...by the mid-summer ... probably no=
t,&rdquo; he said. &ldquo;But, as inventories dwindle with zero imports, TI=
NA (there is no alternative) happens.&rdquo;&nbsp;</span></span></span></sp=
an></span></span></span></span></font></font></p><p style=3D"line-height:1.=
7;font-size:12px; color:#000000;padding:0px;margin: 0;font-family: Arial, H=
elvetica; line-height: 17pt; text-align: left;"><font color=3D"#000000" fac=
e=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><font><span=
><span><span><span><span><span><span><span><span><br></span></span></span><=
/span></span></span></span></span></span></font></font></p><p style=3D"line=
-height:1.7;font-size:12px; color:#000000;padding:0px;margin: 0;font-family=
: Arial, Helvetica; line-height: 17pt; text-align: left;"><font color=3D"#0=
00000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><=
font><span><span><span><span><span><span><span><span><span>Based on the cur=
rent sideways-to-higher July call, Midwest prime busheling scrap in the Ohi=
o Valley could settle at or above the $435-460/gt ($442-467/mt) June settle=
, while shredded scrap might settle at or above $375-380/gt($381-386/mt). A=
ccording to scrap insiders, Ohio Valley P&S and HMS grades could settle at =
or above $361-371/gt ($367-377/mt), and $325-345/gt ($330-350/mt), respecti=
vely.</span></span></span></span></span><br></span></span></span></span></f=
ont></font></p><p style=3D"line-height:1.7;font-size:12px; color:#000000;pa=
dding:0px;margin: 0;font-family: Arial, Helvetica; line-height: 17pt; text-=
align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"fo=
nt-size: 12pt;color:#000000;"><font><span><span><span><span><span><span><sp=
an><span><span><br></span></span></span></span></span></span></span></span>=
</span></font></font></p><p style=3D"line-height:1.7;font-size:12px; color:=
#000000;padding:0px;margin: 0;font-family: Arial, Helvetica; line-height: 1=
7pt; text-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" s=
tyle=3D"font-size: 12pt;color:#000000;"><font><span><span><span><span><span=
><span><span><span><span><span>In the US Northeast, a sideways to potential=
ly higher expectation for July might resulting busheling scrap prices settl=
ing at or above $380-400/gt ($386-</span><span>406/mt), while shredded grad=
es could settle at or higher than $325-335/gt($330-340/mt). P&S and HMS gra=
des could settle at or above $295-305/gt($300-310/mt), and 305-320/gt ($310=
-325/mt), respectively, insiders told SteelOrbis.</span></span></span></spa=
n></span></span></span></span></span></span></font></font></p></font></font=
><p style=3D"margin: 0;padding: 0px;font-family:Arial, Helvetica, sans-seri=
f; color:#000000;line-height:1.7;font-family:Arial,verdana;font-size:12px;p=
adding:0px;"></p></font><p style=3D"margin: 0;padding: 0px;font-family:Aria=
l, Helvetica, sans-serif; color:#000000;line-height:1.7;font-family:Arial,v=
erdana;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></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1721852339211" style=3D" mso-table-lspa=
ce:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-=
rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collap=
se;" valign=3D"top">

=09=09
=09=09=09 <div class=3D"zpelement-wrapper divider" id=3D"elm_1721852339211"=
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=09=09=09 <table bgcolor border=3D"0" cellpadding=3D"0" cellspacing=3D"0" c=
lass=3D"zpAlignPos" style=3D" mso-table-lspace:0pt; mso-table-rspace:0pt;pa=
dding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;font-si=
ze:5px; mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: 10=
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font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0=
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apse;">
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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=
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o-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;border: 0px; font-s=
ize: 0px; width: 100%; margin: auto;" width=3D"100%"> <tbody><tr><td align=
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margin: 0px; padding: 0px; width: 100%; border-top-width: 1px;" width=3D"10=
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gbottom=3D"5px" componentpaddingleft=3D"15px" componentpaddingright=3D"15px=
" componentpaddingtop=3D"7px" style><p align=3D"left" style=3D"font-family:=
Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-heig=
ht: 25pt; text-align: left;"><b style=3D"font-family: Arial, Helvetica; bac=
kground-color: transparent;"><font style=3D"font-size: 14pt;"></font></b></=
p><h4 style=3D"font-family:Arial,verdana,Helvetica, sans-serif;font-size: 2=
2px;color:#000000; font-weight:normal; color:#000000;padding: 0px;margin: 0=
;text-align: center;"><b style=3D"font-family: Arial, Helvetica; background=
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ing:0px;"></p></div>
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r:#ffffff;">
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cing=3D"0" class=3D"zpAlignPos" style=3D" mso-table-lspace:0pt; mso-table-r=
space:0pt;font-size:12px;padding:0px;border:0px;border-collapse:collapse; m=
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=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border-collapse:c=
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:0px none ;   border-bottom:0px none ;padding-top:7px;padding-bottom:7px;pa=
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             =09    =09=09<div componentpaddingbottom=3D"7px" componentpadd=
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e-height: 17pt;"><font style=3D"font-size: 12pt;">

</font></span></p><p style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0px; padding: 0px; box-sizin=
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t;"><span style=3D"line-height: 17pt;"></span></font></span></p><font style=
=3D"font-size: 12pt;"><span style=3D"line-height: 17pt;"><p style=3D"line-h=
eight:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0=
px;margin: 0;text-align: left; line-height: 17pt;"><span style=3D"font-fami=
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pt;"></font></b></span></p><span><p align=3D"left" style=3D"font-family:Ari=
al,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height:=
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=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><span style=3D"color: rgb(51, 51, 51);"></span><span=
><span></span></span></font></p></span><span><p style=3D"font-family:Arial,=
verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19=
pt; text-align: left;"><span style=3D"color: rgb(51, 51, 51); font-family: =
Arial, Helvetica;"></span></p></span><span><font style>

<font color=3D"#2828da" style><u></u></font>

<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"color: rgb(51, 51, 51);"><font><font><=
/font></font></font></p>

<font style><u></u></font>

<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;"><font style><span>=
</span></font></h4><span><font style></font></span></font></span></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><b style><font style></font></b></font></p><font style>

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

</font><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><b style><font style></font></b></font></p><span><fo=
nt style>

<span>

<font><u></u></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><font style><font style><font style><b style></b></font></f=
ont></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 face=3D"Arial, H=
elvetica" style><font style><span>

</span></font></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><font style><font face=3D"Arial, H=
elvetica" style><font style></font></font></font></font></p><span>

<span></span></span></span></span></span></font></span></span></font></div>=
<span><div align=3D"center" style=3D"text-align: center;"><span style=3D"fo=
nt-size: 12pt;">Check out the most frequently asked questions about the ser=
vice and products of StaalX. We are always here to chat with you in the cha=
t boxes from the site or on the support telephone number below.</span></div=
></span><div componentbgcolor=3D"#ffffff" componentlineheight=3D"17pt" comp=
onentpaddingbottom=3D"5px" componentpaddingleft=3D"30px" componentpaddingri=
ght=3D"30px" componentpaddingtop=3D"5px" id style=3D"background-color: rgb(=
255, 255, 255); outline: none;"><b style=3D"font-size: 12pt;"></b></div></d=
iv></div></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1657641547032" style=3D" mso-table-lspa=
ce:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-=
rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collap=
se;" 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" style=
=3D" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;border:0px;b=
order-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:=
none;" width=3D"100%">
        <tbody><tr><td class=3D"paddingcomp" style=3D"border-collapse:colla=
pse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, san=
s-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px 15px;bo=
rder-top:none none none;border-bottom:none none none;padding-top:7px;paddin=
g-bottom:7px;padding-right:15px;padding-left:15px;">
        <div class=3D"zpelement-wrapper buttonElem" id=3D"elm_1657641547032=
" 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"=
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table-lspace:0pt; mso-table-rspace:0pt;">
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ollapse:collapse; mso-table-lspace:0pt; font-size:12px; mso-table-rspace:0p=
t;font-size:12px;border:0px;padding:0px;color:#ffffff;font-family:Arial;tex=
t-align:center;border-radius:4px;text-align:center;cursor:pointer;">
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=09=09=09=09=09          <v:roundrect xmlns:v=3D"urn:schemas-microsoft-com:=
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=09=09=09=09=09            <center style=3D"direction:ltr;color:#ffffff;fon=
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<tr><td class=3D"txtsize" id=3D"elm_1657641362463" style=3D" mso-table-lspa=
ce:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-=
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se;" valign=3D"top">

=09=09
=09=09=09 <div class=3D"zpelement-wrapper divider" id=3D"elm_1657641362463"=
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=09=09=09 <tbody><tr><td class=3D"txtsize" style=3D" mso-table-lspace:0pt; =
font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0=
pt;font-size:12px;border:0px;padding:18px 7px 18px 7px;border-collapse:coll=
apse;">
=09=09=09=09=09<div class=3D"divider" componentborder=3D"#9babab" style=3D"=
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pse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, san=
s-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px;border-=
style: dotted none none; border-color: rgb(155, 171, 171); font-size: 0px; =
margin: 0px; padding: 0px; width: 100%; border-top-width: 1px;" width=3D"10=
0%">       </td> </tr></tbody></table></div>
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</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1614756675022" style=3D" mso-table-lspa=
ce:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-=
rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collap=
se;" valign=3D"top">

          <div class=3D"zpelement-wrapper" id=3D"elm_1614756675022" style=
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r:#ffffff;">
=09    =09<table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"zpAlignPos" style=3D" mso-table-lspace:0pt; mso-table-r=
space:0pt;font-size:12px;padding:0px;border:0px;border-collapse:collapse; m=
so-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;-ms-text-si=
ze-adjust: 100%;-webkit-text-size-adjust: 100%;" width=3D"100%">
=09  =09
            <tbody><tr><td class=3D"paddingcomp" style=3D"border-collapse:c=
ollapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;padding:7px =
15px;font-size:12pt;font-family:Arial,Helvetica;line-height:17pt;border-top=
:0px none ;   border-bottom:0px none ;padding-top:5px;padding-bottom:5px;pa=
dding-right:100px;padding-left:100px;">
             =09    =09=09<div componentbgcolor=3D"#ffffff" componentlinehe=
ight=3D"17pt" componentpaddingbottom=3D"5px" componentpaddingleft=3D"100px"=
 componentpaddingright=3D"100px" componentpaddingtop=3D"5px" style=3D"backg=
round-color: rgb(255, 255, 255);"><p align=3D"center" style=3D"line-height:=
1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;text-align: center; line-height: 17pt;"><font face=3D"Arial, Helveti=
ca" style=3D"line-height: 17pt; font-size: 14pt;"><b style>Contact us</b></=
font></p><p align=3D"center" style=3D"line-height:1.7;font-family:Arial,ver=
dana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: center=
; line-height: 17pt;"><font style=3D"line-height: 17pt; font-size: 12pt;"><=
b style><font color=3D"#006cfb" style><u style>support@staalx.com</u></font=
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;padding:0px;margin: 0;text-align: center; line-height: 17pt;"><font style=
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center" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; =
color:#000000;padding:0px;margin: 0;text-align: center; line-height: 17pt;"=
><span style=3D"font-size: 10pt; color: rgb(68, 67, 67); font-family: Arial=
, Helvetica;">Follow StaalX on</span><br></p></div>
=09=09=09</td></tr>
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       =09  </div>
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ce:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-=
rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collap=
se;" valign=3D"top">










=09                <div class=3D"zpelement-wrapper wdgts" id=3D"elm_1614756=
693700" style=3D"overflow:hidden;word-wrap:break-word;">
=09=09=09=09=09=09<table bgcolor border=3D"0" cellpadding=3D"0" cellspacing=
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just: 100%;-webkit-text-size-adjust: 100%;  background-color:;" width=3D"10=
0%">
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table-lspace:0pt;font-family:Arial, Helvetica, sans-serif; mso-table-rspace=
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ing-left:50px;">
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dding-bottom: 6px;" valign=3D"middle"> <a href=3D"https://qprdy-zgph.mailli=
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o-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif=
; mso-table-rspace:0pt;font-size:12px;border:none;padding: 0px;margin: 0px;=
" valign=3D"middle"><a href=3D"https://qprdy-zgph.maillist-manage.net/click=
/1c08f772a413ed4d/1c08f772a413e255" style=3D"display: block;font-size: 1px;=
font-weight: normal;line-height: normal;text-align: center;text-decoration:=
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ng:0px;margin: 0;line-height: normal; font-family: Arial, Helvetica, sans-s=
erif; color: rgb(27, 107, 189); font-size: 10pt;">LinkedIn</p></a> </td></t=
r></tbody></table></td></tr></tbody></table></td></tr></tbody></table></td>=
<td align=3D"left" style=3D"border-collapse:collapse; mso-table-lspace:0pt;=
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0pt;font-size:12px;border:none;padding:0px;margin:0px;" valign=3D"top"><tab=
le align=3D"left" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D=
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: collapse;border: none;"><tbody><tr><td style=3D"border-collapse:collapse;=
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rif; mso-table-rspace:0pt;font-size:12px;padding-right: 9px;padding-bottom:=
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=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D" mso-table-lspace:0pt; =
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"><tbody><tr><td align=3D"left" style=3D"border-collapse:collapse; mso-tabl=
e-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-=
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le=3D" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;border-col=
lapse: collapse;border: none;" width><tbody><tr><td align=3D"center" name=
=3D"sclwdgtimges" style=3D"border-collapse:collapse; mso-table-lspace:0pt; =
font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0=
pt;font-size:12px;border: none;padding: 0px;margin: 0px;padding-bottom: 6px=
;" valign=3D"middle"> <a href=3D"https://qprdy-zgph.maillist-manage.net/cli=
ck/1c08f772a413ed4d/1c08f772a413e257" style=3D"text-decoration:underline;di=
splay: block;font-size: 1px;" target=3D"_blank" zcurl_name=3D"l_9"><img alt=
=3D"Facebook" height=3D"35" src=3D"https://stratus.campaign-image.com/image=
s/867215000019919014_2_1715205012306_zcsclwgtfb1.png" style=3D"border: 0px;=
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px;" vspace=3D"10" width=3D"35"></a> </td></tr><tr><td align=3D"center" nam=
e=3D"sclwdgtcaptns" style=3D"border-collapse:collapse; mso-table-lspace:0pt=
; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace=
:0pt;font-size:12px;border:none;padding: 0px;margin: 0px;" valign=3D"middle=
"><a href=3D"https://qprdy-zgph.maillist-manage.net/click/1c08f772a413ed4d/=
1c08f772a413e259" style=3D"display: block;font-size: 1px;font-weight: norma=
l;line-height: normal;text-align: center;text-decoration: none;" target=3D"=
_blank" zcurl_name=3D"l_10"><p fntname=3D"Arial" fntsze=3D"10" style=3D"fon=
t-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;=
line-height: normal; font-family: Arial, Helvetica, sans-serif; color: rgb(=
27, 107, 189); font-size: 10pt;">Facebook</p></a> </td></tr></tbody></table=
></td></tr></tbody></table></td></tr></tbody></table></td><td align=3D"left=
" style=3D"border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;f=
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x;border:none;padding:0px;margin:0px;" valign=3D"top"><table align=3D"left"=
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e:0pt; mso-table-rspace:0pt;font-size:12px;border-collapse: collapse;border=
: none;"><tbody><tr><td style=3D"border-collapse:collapse; mso-table-lspace=
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pace:0pt;font-size:12px;padding-right: 9px;padding-bottom: 9px;border:none;=
padding: 0px;margin: 0px;" valign=3D"top"> <table border=3D"0" cellpadding=
=3D"0" cellspacing=3D"0" style=3D" mso-table-lspace:0pt; mso-table-rspace:0=
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ont-size:12px;padding:7px;padding-top: 0px;padding-right: 9px;padding-botto=
m: 0px;padding-left: 9px;border:none;" valign=3D"middle"> <table align=3D"l=
eft" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D" mso-table-l=
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rder: none;" width><tbody><tr><td align=3D"center" name=3D"sclwdgtimges" st=
yle=3D"border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-=
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rder: none;padding: 0px;margin: 0px;padding-bottom: 6px;" valign=3D"middle"=
> <a href=3D"https://qprdy-zgph.maillist-manage.net/click/1c08f772a413ed4d/=
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ze: 1px;" target=3D"_blank" zcurl_name=3D"l_11"><img alt=3D"Instagram" heig=
ht=3D"35" src=3D"https://stratus.campaign-image.com/images/8672150000199190=
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utline: none; text-decoration: none; width: 40px; height: 40px;" vspace=3D"=
10" width=3D"35"></a> </td></tr><tr><td align=3D"center" name=3D"sclwdgtcap=
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12px;border:none;padding: 0px;margin: 0px;" valign=3D"middle"><a href=3D"ht=
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ame=3D"l_12"><p fntname=3D"Arial" fntsze=3D"10" style=3D"font-family:Arial,=
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rmal; font-family: Arial, Helvetica, sans-serif; color: rgb(27, 107, 189); =
font-size: 10pt;">Instagram</p></a> </td></tr></tbody></table></td></tr></t=
body></table></td></tr></tbody></table></td><td align=3D"left" style=3D"bor=
der-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Ari=
al, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:none;=
padding:0px;margin:0px;" valign=3D"top"><table align=3D"left" border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" style=3D" mso-table-lspace:0pt; mso-tab=
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tyle=3D"border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font=
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adding:7px;padding-top: 0px;padding-right: 9px;padding-bottom: 0px;padding-=
left: 9px;border:none;" valign=3D"middle"> <table align=3D"left" border=3D"=
0" cellpadding=3D"0" cellspacing=3D"0" style=3D" mso-table-lspace:0pt; mso-=
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dth><tbody><tr><td align=3D"center" name=3D"sclwdgtimges" style=3D"border-c=
ollapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, H=
elvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border: none;padd=
ing: 0px;margin: 0px;padding-bottom: 6px;" valign=3D"middle"> <a href=3D"ht=
tps://qprdy-zgph.maillist-manage.net/click/1c08f772a413ed4d/1c08f772a413e25=
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t=3D"_blank" zcurl_name=3D"l_13"><img alt=3D"X" height=3D"35" src=3D"https:=
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tion: none; width: 40px; height: 40px;" vspace=3D"10" width=3D"35"></a> </t=
d></tr><tr><td align=3D"center" name=3D"sclwdgtcaptns" style=3D"border-coll=
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-manage.net/click/1c08f772a413ed4d/1c08f772a413e261" style=3D"display: bloc=
k;font-size: 1px;font-weight: normal;line-height: normal;text-align: center=
;text-decoration: none;" target=3D"_blank" zcurl_name=3D"l_14"><p fntname=
=3D"Arial" fntsze=3D"10" style=3D"font-family:Arial,verdana;font-size:12px;=
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l, Helvetica, sans-serif; color: rgb(27, 107, 189); font-size: 10pt;">X</p>=
</a> </td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody>=
</table></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbo=
dy></table>=09
=09=09=09=09=09=09=09</td></tr>
=09=09=09            </tbody></table>=09
=09=09            </div>
</td></tr>
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ce:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-=
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se;" valign=3D"top">

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=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" mso-table-lspace:0pt; mso-table-r=
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=09  =09
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ollapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;padding:7px =
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             =09    =09=09<div componentbgcolor=3D"#ffffff" componentlinehe=
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pt; color: rgb(68, 67, 67); font-family: Arial, Helvetica;"><br></span></p>=
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r; line-height: 17pt;"><font color=3D"#444343" face=3D"Arial, Helvetica" st=
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t;"><span style=3D"line-height: 17pt;"><br></span></span></font></p><p alig=
n=3D"center" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:1=
2px; color:#000000;padding:0px;margin: 0;text-align: center; line-height: 1=
7pt;"><font color=3D"#444343" face=3D"Arial, Helvetica" style=3D"line-heigh=
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itle=3D"Update your preferences" zcurl_name=3D"l_16"><font color=3D"#444343=
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=09=09</tbody></table>
       =09  </div>
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=09=09=09=09=09</td>=20
=09=09=09=09=09</tr>=20
=09=09=09=09=09</tbody></table>
=09=09=09=09</td>=20
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Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0p=
x;padding:0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rsp=
ace:0pt;">&nbsp;</td>
=09=09=09</tr>=20
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