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Date: Thu, 4 Sep 2025 14:03:36 -0700 (PDT)
From: "StaalX Team" <newsletter@staalx.com>
To: Andrew Sterling <info@sterlingcal.com>
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https://www.staalx.com/

StaalX Newsletter, September 4, 2025 (Scroll down for Updates From This Wee=
k and Steelorbis News)

Message from Our CEO!

StaalX' Marketplace Model

There are quite a few e-commerce models and a lot of people asked me about =
the StaalX model. Unlike a traditional agent or a pure marketplace, StaalX =
buys from a seller and sells to a buyer directly, assuming the role of a pr=
incipal. This approach fundamentally addresses the core B2B challenges of t=
rust and credit risk.=20

https://www.staalx.com/about-us

By taking on the financial and logistical burden, StaalXprovides a level of=
 security and simplicity that is otherwise difficult to achieve when tradin=
g with new, unknown partners. It eliminates the need for buyers and sellers=
 to conduct extensive onboarding or credit checks on each other.

A pure, hands-off marketplace model, a staple of consumer e-commerce, is in=
compatible with the complexities of the steel industry. Trust is the single=
 most critical currency in the B2B steel industry, where a single transacti=
on can be worth hundreds of thousands or even millions of dollars. Simply d=
eep trust is required for high-value transactions and the buyers will need =
to know that their orders will be fulfilled without worrying about the sell=
er's performance. StaalX guarantees the success of the transaction.

Of course, there are other benefits of this model as not all sellers in the=
 steel market wantto be on an open platform, listing and offering products =
that may not be welcomed by their traditional customers. With our model, se=
llers enjoy anonymity and freely discount when they need to move their obso=
lete inventory. Buyers reap the benefits.

This is our current marketplace model for the material on the ground and re=
ady for immediate shipment. StaalX is also working on another model, codena=
med StaalX NeXt for future bookings of orders, including domestic and impor=
t future rollings and shipments, one, two or more months down the line deli=
veries. The model will likely adopt a transparent relationship between buye=
rs and sellers and StaalX will fulfill the role of logistics, customs clear=
ance and finance as a service, and making transactions easier, as our corpo=
rate mission dictates.

Stay tuned for that and check out our current offers at StaalX.com.

Updates From This Week

https://www.staalx.com/

Rebar Market Heats Up Amidst Troubled Construction Outlook

###

Rod Market Cooler

The U.S. rebar market is currently in a puzzling state. Despite a seemingly=
 troublesome outlook for the broader construction sector, the rebar market =
is experiencing a tight supply situation, with most domestic mills reportin=
g near-zero floor stock. How did we arrive at this point?

The challenges in construction are undeniable. A crackdown on immigration h=
as led to a significant labor crunch, with nearly 45% of contractors citing=
 workforce issues as a cause of project delays. Additionally, 16% of contra=
ctors are reporting project impacts related to tariffs. Rebar fabricators c=
onfirm this trend, noting that while they are estimating a high volume of p=
rojects, fewer are actually moving forward. High interest rates are also a =
major headwind, and it is unlikely they will drop fast enough this year to =
have a material impact on project costs. While the overall construction act=
ivity is seeing some contraction, it remains at a decent level, effectively=
 absorbing available supply despite these self-imposed obstacles.

On the import front, rebar offers are scarce. Ongoing antidumping duties ha=
ve severely limited options, and the few offers that exist are priced very =
close to what large domestic buyers=E2=80=94fabricators and master distribu=
tors=E2=80=94are paying. This lack of a significant price advantage means t=
hat imported rebar is not gaining much traction. This has also widened the =
gap in buying prices between small and large domestic purchasers, with pref=
erential pricing becoming more common.

Long Products Market Dynamics

The wire rod market is notably calmer. Following Nucor's decision to hold p=
rices steady and a stable scrap market, major price shifts are not anticipa=
ted in the near term.

However, the import environment for wire rod is becoming increasingly chall=
enging. While there is interest in Q1 2026 arrivals, it is getting harder t=
o put together shipments and volume. Some major wire rod exporters to the U=
.S. have been hit by rebar antidumping cases, and this has complicated thei=
r ability to make combined shipments, making the import landscape for rods =
significantly more difficult.

Looking Ahead

The divergence in pricing between long products and flat-rolled products ha=
s been a notable market quirk this year. Since the doubling of Section 232 =
tariffs in June, long product prices have been on the rise while flat-rolle=
d prices have moved in the opposite direction. This can be attributed to in=
creased domestic flat-rolled production, which has intensified competition =
among U.S. mills rather than with imports.

This dynamic may be short-lived for rebar. New domestic production capacity=
 from Hybar, CMC and Nucor is scheduled to come online in Q4 2025 and Q1 20=
26. This influx of supply is expected to ease the current shortage and coul=
d potentially lead to a price correction in the near future.

Weekly Poll

What do you think? Will the flat rolled prices go up long products prices c=
ome down to close the pricing gap between these basic products groups?
* https://qprdy-zgpvh.maillist-manage.net/poll.zc?pollid=3D8672150000212134=
43&od=3D3zbbfd3107516e2747240afb213f83dea99f3114ab6bc11315f109b5f5525d0f45 =
=E2=80=A2 Flat rolled prices will go up. The market hasn't digested built u=
p inventories but eventually we should see significant price increases in t=
he traditionally volatile flat rolled products
* https://qprdy-zgpvh.maillist-manage.net/poll.zc?pollid=3D8672150000212134=
45&od=3D3zbbfd3107516e2747240afb213f83dea99f3114ab6bc11315f109b5f5525d0f45 =
=E2=80=A2 Long Products prices will go down. Wire rod and rebar prices are =
already quite inflated and as soon as domestic production increases, prices=
 will start coming down

### =F0=9F=9A=9B Steel Buying, Reimagined.

### Sick of the back-and-forth?

The future of steel sourcing is already here =E2=80=94 and it=E2=80=99s fas=
ter and built for you.

Why buyers are switching to StaalX:
=E2=9C=85 Live pricing =E2=80=94 no more quote requests
=E2=9C=85 Instant freight costs & delivery windows
=E2=9C=85 Amazon-style checkout =E2=80=94 for rebar, mesh & wire rod
=E2=9C=85 Built-in tools that make fabricators' lives easier

=F0=9F=94=97 Ready to experience it? Visit https://www.staalx.com/ www.staa=
lx.com
=F0=9F=93=A6 Rebar. Wire rod. Mesh. It=E2=80=99s all a click away.

https://www.staalx.com/

https://www.staalx.com/ Get a quote

Explore the upgrades at https://www.staalx.com www.staalx.com or get in tou=
ch today with mailto:websupport@staalx.com?subject=3D websupport@staalx.com=
 to see the difference.

From our content partner, SteelOrbis

http://steelorbis.com

US import rebar and wire rod prices still strong amid trimmed supply, local=
 shortages
Friday, 29 August 2025 14:23:59 (GMT+3) San Diego
US import rebar and wire rod pricing has continued steady to higher amid co=
ntinued low imports and as reports of local supply shortages persist, marke=
t insiders told SteelOrbis this week.

Insiders continue to lament that the combination of ongoing 50 percent stee=
l import tariffs and the enhanced importer risk associated with ongoing ant=
idumping cases currently under review by the US Department of Commerce (DOC=
) continues to limit the amount of import material being made available as =
an alternative to domestic supply. As domestic prices continue to rise, how=
ever, imports may be beginning to look more favorable.

=E2=80=9CSupply availability is getting tighter and US mills are getting bu=
sier, so some limited imports may begin to be possible,=E2=80=9D remarked o=
ne US Gulf Coast long steel insider to SteelOrbis. =E2=80=9CAvailability co=
uld be a developing issue in certain parts of the country where import prod=
uct was predominantly sold,=E2=80=9D said another long steel insider. =E2=
=80=9CThe US West is a bit more competitive,=E2=80=9D he added.

Another SteelOrbis long steel importer source commented that shortages of r=
ebar continue to become more frequent in parts of south Texas, with talk of=
 supply allocations on existing supply contracts from domestic mills in the=
 US Southeast beginning to be heard. Meaningful rebar supply relief from th=
e Osceola, Arkansas-based Hybar rebar mill is not expected to be seen in th=
e market until the fourth quarter, he said.

The same source added, =E2=80=9CWe=E2=80=99re seeing rebar imports at recor=
d lows with July licenses reported at 34,051 metric tons, down 73 percent m=
onth on month, with August pacing at 44,510 metric tons as of August 18. Do=
mestic mills are running at high capacity of around 800,000 tons per month,=
 but they continue to restrict spot orders in order to protect spot pricing=
 markets.=E2=80=9D

This week, import rebar on a loaded truck basis on the US Gulf Coast is dis=
cussed at $40-45/cwt., ($800-900/nt or $882-992/mt), depending on the size =
of the customer, with most transactions averaging $1.00/cwt. higher at $44.=
50/cwt, up from $43-44/cwt. ($860-880/nt or $948-970/mt), or on average $43=
.50/cwt. one week prior. Insiders said shortages in south Texas have caused=
 some local suppliers to raise price offers toward $46-47/cwt, though it re=
mains unclear whether buyers are interested yet.

On the US East Coast, import rebar gained a bit less again this week versus=
 the Gulf Coast, insiders said, with most transactions averaging at $42-46/=
cwt., depending on customer size, settling the week about $0.50/cwt. higher=
 at on average $45.00/cwt. ($900/nt or $992/mt). Reports persist of shortag=
es of some sizes of rebar product as imports wane and domestic mills strugg=
le to fill a growing supply gap by boosting output.

In the import wire rod markets, import wire rod offers in the Port of Houst=
on are heard at $44-49/cwt. ($880- 980/nt or $970-1,080/mt) inclusive of ta=
riffs, though most are deemed non-viable compared with domestic mesh trades=
 heard flat this week at $42.50-43.50/cwt. ($850-870/nt or $937-959/mt).

=E2=80=9CSince Nucor attempted a $20/ton increase in wire rod pricing in Ju=
ly, traction in the market has remained limited,=E2=80=9D one Mexican long =
steel insider told SteelOrbis. =E2=80=9CWe=E2=80=99re seeing lead times for=
 domestic wire rod at five to six weeks with demand fairly steady but not s=
trong as a result of tariffs,=E2=80=9D he added. =E2=80=9CImports remain sc=
arce keeping supply balanced despite sluggish consumption as buyers continu=
e to wait for lower interest rates before stepping up their orders.=E2=80=
=9D

Recent industry reports from this week=E2=80=99s SMU Steel Summit in Atlant=
a, Georgia, indicated there is currently an 80 percent certainty in financi=
al market circles that the US Federal Reserve will lower the over-night ban=
k lending rate by a one-quarter point at the next Fed Open Market Committee=
 meeting on September 16-17. Rates have remained at 4.25-4.50 percent since=
 December 2024 and have been blamed for a general lack of investment in US =
infrastructure projects.

In the Mexican long steel markets, while 50 percent tariffs remain in place=
, pre-tariff rebar available in the vicinity of Houston, Texas, on a loaded=
 truck basis is little changed at $40-42/cwt. ($800-840/nt or $937/mt to $9=
59/mt), compared with earlier weekly estimates at $40-43/cwt., insiders sai=
d. As Mexico continues to deal with high export tariffs to the US, one Mexi=
can trader told SteelOrbis that their direct sales of long steel to Canada =
via ship and rail have increased fourfold, helping to support recent local =
Mexican price stability in the face of unremarkable demand.

Local US rebar and wire rod prices stable for fifth straight week
Friday, 29 August 2025 17:09:36 (GMT+3) San Diego
US domestic rebar and wire rod prices have remained unchanged this week as =
scrap stays sideways to lower. Domestic availability in the US is being dis=
cussed as an issue where import products are predominantly being sold. Tran=
sitioning to September, the steel market should start to move out of the =
=E2=80=9Csummer doldrums=E2=80=9D reported last week.

In the weekly rebar spot markets, domestic supply on FOB mill basis was ass=
essed with most transactions noted at $43.50-44.50/cwt ($870-890/nt or $959=
-981/mt), on average $44.00/cwt, ($880/nt or $970/mt), unchanged from seven=
 days ago. =E2=80=9CThe domestic rebar is expected to move slightly higher =
next week,=E2=80=9D according to a long steel contact.

In the domestic wire rod market, domestic supply on FOB mill basis was asse=
ssed with most transactions reported this week at $46.50-47.50/cwt ($930-95=
0/nt or $1,025-1,047/mt), or an average of $47.00/cwt ($940/nt or $1,036/mt=
), unchanged from seven days ago.

September US scrap seen sideways to down for third week amid declining flat=
 steel, start of maintenance season
Thursday, 28 August 2025 23:36:01 (GMT+3) San Diego
The outlook for September US scrap pricing next month remained unchanged fo=
r a third week at sideways to potentially lower this week as a result of co=
ntinued reports of low flat steel pricing as well as new reports that Septe=
mber-November mill maintenance programs could further limit local mill scra=
p buys during the September buy-cycle negotiation period next month, market=
 insiders told SteelOrbis. Reports of a continued prime scrap =E2=80=9Cover=
hang,=E2=80=9D the result of reduced mill purchases of prime scrap during A=
ugust supply negotiations continued, but to less an extent than were heard =
the week prior.

=E2=80=9CWe=E2=80=99re expecting to see scrap coming off a bit in September=
 as supply is steady although demand is likely to fall as a result of the a=
nnual mill outage season,=E2=80=9D remarked one US Midwest-based mill scrap=
 buyer. =E2=80=9CWe=E2=80=99re not expecting anything dramatic, but, we cou=
ld see prime scrap trade off between $10-20/ton.=E2=80=9D

=E2=80=9CThere=E2=80=99s really not anything new out there on the consensus=
 for September scrap=E2=80=9D said another Gulf Coast scrap insider. =E2=80=
=9CWe=E2=80=99re seeing the status quo, as there appears to be some downsid=
e pressure on primes. We=E2=80=99ll see if that happens, but, all other gra=
des are anticipated to trade sideways to August.=E2=80=9D

One US East Coast scrap insider begged to differ on reports of a continued =
prime scrap supply overhang in his local scrap region.

=E2=80=9CI would agree that September scrap could settle soft-sideways next=
 month on low demand,=E2=80=9D he said. =E2=80=9CBut, I personally haven=E2=
=80=99t seen a lot of supply overhang for busheling.=E2=80=9D

Insiders told SteelOrbis in earlier reports that US mills didn=E2=80=99t bu=
y the prime scrap that local scrap suppliers had expected them to purchase =
during the August buy-cycle because threatened 50 percent tariffs on Brazil=
ian pig iron by US President Trump failed to occur. An insider remarked =E2=
=80=9CI think mill closures across September, October and November will cre=
ate significant downward pressure on pricing during the September and Octob=
er buys,=E2=80=9D he said last week. =E2=80=9CEspecially with the expectati=
on of a continued bearish export market and the softness in hot-rolled coil=
 pricing.=E2=80=9D

This week, US Midwest flat steel pricing continued lower amid reports of tr=
ades done at $5/nt less on average $820/nt ($904/mt), or $41.00/cwt., off f=
rom an average $820-$830/nt ($904-915/mt), or on average $41.25/cwt., seven=
 days earlier. Flat steel insiders said HRC pricing could be nearing a bott=
om at about $800/nt ($882/mt) or $40/cwt., as reports emerge of improved do=
mestic demand seen by mills.

=E2=80=9CWe see positive things regarding demand,=E2=80=9D said Nucor Corpo=
ration Executive Vice President of Sheet Products, Noah Hanners, at this we=
ek=E2=80=99s SMU Steel Summit conference in Atlanta, Georgia, when asked ab=
out this week=E2=80=99s Consumer Spot Price (CSP) increase for hot-rolled c=
oils, the first reported by the key US mill in three weeks to $875/nt ($965=
/mt) or $43.75/cwt. =E2=80=9CThis week=E2=80=99s price increase has nothing=
 to do with tariffs at all, but rather we see a developing backlog of order=
s coming from customers, which is supportive of demand.=E2=80=9D

Another SteelOrbis flat steel contact remarked, =E2=80=9CThere is a mix of =
opinions in the marketplace right now, however, there is a general feeling =
that demand is going up in certain sectors as people return from vacations,=
=E2=80=9D he said. =E2=80=9CThe mills definitely have felt an increase of v=
olume on quotes, but companies are looking for lower prices and mills are n=
ot closing orders,=E2=80=9D he added. =E2=80=9CScrap values are staying the=
 same versus prices that are coming down, so that is reducing margins with =
the mills. To me it feels like HRC prices will not decline below $800/nt.=
=E2=80=9D

Given this week=E2=80=99s continued declines in spot flat steel pricing, St=
eelOrbis historical data shows price levels have declined consistently sinc=
e the end of June as scrap demand has remained unremarkable with sideways p=
ricing reported for three straight months.

Based on a sideways to down from August, September settlement, US Midwest p=
rime busheling scrap in the Ohio Valley could settle at or below $435-460/g=
t ($443-468/mt), while shredded scrap might settle at or below $375-380/gt =
($381-387/mt). Ohio Valley P&S and HMS grades are seen at or below $361-371=
/gt ($367-377/mt) and $325-345/gt ($330-387/mt), respectively, scrap inside=
rs told SteelOrbis.

In the US Northeast, a sideways to potentially lower September scrap settle=
 would put prime busheling grade material at or below $380-400/gt ($387-407=
/mt), while shredded grades could settle at or below $325-335/gt ($330-342/=
mt). P&S and HMS grades might finish at or below $295-305/gt ($300-310/mt) =
and 305-320/gt ($310-325/mt), respectively, scrap insiders told SteelOrbis =
this week.

Do you have any questions? Check out our FAQ!

Check out the most frequently asked questions about the service and product=
s of StaalX. We are always here to chat with you in the chat boxes from the=
 site or on the support telephone number below.

https://www.staalx.com/faqs FAQs

Contact us
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<div class=3D"zppage-container">                                           =
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=09=20

=09          <div class=3D"zpelement-wrapper spacebar" id=3D"elm_1615875310=
789" style=3D";word-wrap:break-word;overflow:hidden;background-color:#f8f9f=
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xt-size-adjust: 100%;-webkit-text-size-adjust: 100%;height:11px;" width=3D"=
100%">

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; mso-table-lspace:0pt;font-family:Arial, Helvetica, sans-serif; mso-table-=
rspace:0pt;padding:0px;border:0px;font-size:5px;height:11px;border-top:none=
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=09                        &nbsp;&nbsp;&nbsp;

=09                        </td></tr>

=09                </tbody></table>

=09          </div>

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se;" valign=3D"top">

=09    =09<table bgcolor=3D"#ffffff" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" style=3D" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:1=
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fff;">
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pace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-tabl=
e-rspace:0pt;font-size:12px;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:#ffffff;">
=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" mso-table-lspace:0pt; mso-table-rs=
pace:0pt;font-size:12px;text-align:left;padding:0px;border:0px;border-colla=
pse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-w=
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g:0px;text-align:center;padding-top:0px;padding-bottom:0px;padding-right:0p=
x;padding-left:0px;">
=09=09=09<a href=3D"https://qprdy-zgpvh.maillist-manage.net/click/1c08f772a=
427afe0/1c08f772a427a996" style=3D"text-decoration:underline;border:0px;" t=
arget=3D"_blank" zcurl_name=3D"l_1">
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pace=3D"0" size=3D"B" src=3D"https://stratus.campaign-image.com/images/8672=
15000021203004_zc_v1_1714506704119_whatsapp_image_2023_11_29_at_12.24.29_pm=
.jpeg" style=3D"width:600px;height:autopx;max-width:600px !important;border=
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=09=09=09</tbody></table>
=09=09</div>
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<tr><td class=3D"txtsize" id=3D"elm_1657495827067" 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_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" 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
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ollapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;padding:7px =
15px;font-size:12pt;font-family:Arial,Helvetica;line-height:19pt;border-top=
:0px none ;   border-bottom:0px none ;padding-top:7px;padding-bottom:7px;pa=
dding-right:15px;padding-left:15px;">
             =09    =09=09<div style><div componentbgcolor=3D"#ffffff" comp=
onentpaddingbottom=3D"0px" componentpaddingleft=3D"15px" componentpaddingri=
ght=3D"15px" componentpaddingtop=3D"0px" id style=3D"background-color: rgb(=
255, 255, 255); outline: none;"><p align=3D"center" style=3D"line-height:1.=
7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margi=
n: 0;text-align: center; line-height: 25pt;"><font face=3D"Arial, Helvetica=
" style=3D"font-size: 10pt;"><i style>StaalX Newsletter, September 4, 2025&=
nbsp;&nbsp;<font color=3D"#2828da" style>(Scroll down for Updates From This=
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=09<div class=3D"zpelement-wrapper zpcol-layout" id=3D"elm_1753894669339" m=
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=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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=09=09=09=09=09=09<td style=3D"font-size:12px;font-family:Arial, Helvetica,=
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lign=3D"top">
=09            <![endif]-->        =20
=09=09=09=09  <table align=3D"left" cellpadding=3D"0" cellspacing=3D"0" cla=
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oat:left;" width=3D"100%">
=09=09=09=09<tbody><tr>
=09=09                <td class=3D"txtsize" style=3D"border-collapse:collap=
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=3D"pos_1753894669334" style=3D"padding:0px;">

          <div class=3D"zpelement-wrapper" id=3D"elm_1753894669356" 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" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:=
12px;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;=
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kit-text-size-adjust: 100%;" width=3D"100%">
=09  =09
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ollapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;padding:7px =
15px;font-size:12pt;font-family:Arial,Helvetica;line-height:19pt;border-top=
:0px none ;   border-bottom:0px none ;padding-top:7px;padding-bottom:7px;pa=
dding-right:15px;padding-left:15px;">
             =09    =09=09<div style><p align=3D"left" style=3D"font-family=
:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-hei=
ght: 16pt; text-align: left;"><font face=3D"Arial, Helvetica"><span style=
=3D"font-size: 24px;"><b>Message from Our CEO!</b></span></font></p></div>
=09=09=09</td></tr>
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       =09  </div>

          <div class=3D"zpelement-wrapper" id=3D"elm_1753894669357" 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" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:=
12px;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;=
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kit-text-size-adjust: 100%;" width=3D"100%">
=09  =09
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ollapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;padding:7px =
15px;font-size:12pt;font-family:Arial,Helvetica;line-height:19pt;border-top=
:0px none ;   border-bottom:0px none ;padding-top:7px;padding-bottom:7px;pa=
dding-right:15px;padding-left:15px;">
             =09    =09=09<div style><p align=3D"justify" style=3D"font-fam=
ily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-=
height: 19pt; text-align: justify;"><font color=3D"#000000" face=3D"Arial, =
Helvetica" style=3D"color:#000000;font-size: 12pt;"><span>

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

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family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;li=
ne-height: 19pt; text-align: justify;"><font color=3D"#000000" face=3D"Aria=
l, Helvetica" style=3D"color:#000000;font-size: 12pt;"><b><b><font><font co=
lor=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#0=
00000;"><span>

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height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:=
0px;margin: 0;text-align: justify; line-height: 19pt;"><font color=3D"#0000=
00" face=3D"Arial, Helvetica" style=3D"color:#000000;font-size: 12pt;"><b><=
b><font><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-siz=
e: 12pt;color:#000000;"><font color=3D"#000000" face=3D"Arial, Helvetica" s=
tyle=3D"font-size: 12pt;color:#000000;"><span>

</span></font></font></font></b></b></font></p><p align=3D"justify" style=
=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000=
;padding:0px;margin: 0;text-align: justify; line-height: 19pt;"><font color=
=3D"#000000" face=3D"Arial, Helvetica" style=3D"color: rgb(0, 0, 0);"><b st=
yle><b style><font style><font color=3D"#000000" face=3D"Arial, Helvetica" =
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tica" style=3D"color: rgb(0, 0, 0);"><font color=3D"#000000" face=3D"Arial,=
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lace Model</font></font></font></font></b></b></font></p><font color=3D"#00=
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ize: 12pt;color:#000000;"><font color=3D"#000000" face=3D"Arial, Helvetica"=
 style=3D"font-size: 12pt;color:#000000;">

</font></font></font></b></b></font><p align=3D"justify" style=3D"line-heig=
ht:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;=
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ca" style=3D"color:#000000;font-size: 12pt;"><b><b><font>

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

</font><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verd=
ana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify=
;"></p><p align=3D"justify" style=3D"font-family:Arial,verdana;font-size:12=
px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: just=
ify;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color:#000=
000;font-size: 12pt;"><span><b><b><font><br></font></b></b></span></font></=
p><p align=3D"justify" style=3D"font-family:Arial,verdana;font-size:12px; c=
olor:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: justify;"=
><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"color:#000000;f=
ont-size: 12pt;"><span><b><b><font><span>

</span></font></b></b></span></font></p><p align=3D"justify" style=3D"line-=
height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:=
0px;margin: 0;text-align: justify; line-height: 19pt;"><font color=3D"#0000=
00" face=3D"Arial, Helvetica" style=3D"color:#000000;font-size: 12pt;"><fon=
t style><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-siz=
e: 12pt; color: rgb(0, 0, 0);"><span>

</span></font></font></font></p><p align=3D"justify" style=3D"line-height:1=
.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;marg=
in: 0;text-align: justify; line-height: 19pt;"><font color=3D"#000000" face=
=3D"Arial, Helvetica" style=3D"color:#000000;font-size: 12pt;"><font style>=
<font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;=
 color: rgb(0, 0, 0);"><font color=3D"#000000" face=3D"Arial, Helvetica" st=
yle=3D"font-size: 12pt;color:#000000;"><span>

</span></font></font></font></font></p><p align=3D"justify" style=3D"line-h=
eight:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0=
px;margin: 0;text-align: justify; line-height: 19pt;"><span>

</span></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,=
verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: jus=
tify; line-height: 19pt;"><font color=3D"#000000" face=3D"Arial, Helvetica"=
 style=3D"font-size: 12pt;color:#000000;">There are quite a few e-commerce =
models and a lot of people asked me about the StaalX model. Unlike a tradit=
ional agent or a pure marketplace, StaalX buys from a seller and sells to a=
 buyer directly, assuming the role of a principal. This approach fundamenta=
lly addresses the core B2B challenges of trust and credit risk.<span>&nbsp;=
</span></font></p><p align=3D"justify" style=3D"line-height:1.7;font-family=
:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-ali=
gn: justify;"></p><font color=3D"#000000" face=3D"Arial, Helvetica" style><=
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mily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text=
-align: justify;"></p></div>
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15px;padding-left:15px;">
=09=09=09<a href=3D"https://qprdy-zgpvh.maillist-manage.net/click/1c08f772a=
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=09=09=09<img align=3D"left" alt=3D"https://stratus.campaign-image.com/imag=
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=09=09=09</a>
=09=09=09</td></tr>
=09=09=09</tbody></table>
=09=09</div>
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=09=09                    </div>=20
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ont-size: 12pt;color:#000000;"><span>

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:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-ali=
gn: justify; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, Hel=
vetica" style=3D"font-size: 12pt;color:#000000;"><span style=3D"background-=
color: transparent; font-family: Arial, Helvetica; font-size: 12pt;"><span>

</span></span></font></p><p align=3D"justify" style=3D"font-family:Arial,ve=
rdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt=
; text-align: justify;"><font color=3D"#000000" face=3D"Arial, Helvetica" s=
tyle=3D"font-size: 12pt;color:#000000;"><font color=3D"#000000" face=3D"Ari=
al, Helvetica" style=3D"font-size: 12pt;color:#000000;"></font></font></p><=
/span><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verda=
na;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify;=
"></p><span>

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t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;"></font></p><span>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;"><span>

</span></font></p><p align=3D"justify" style=3D"line-height:1.7;font-family=
:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-ali=
gn: justify; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, Hel=
vetica" style=3D"font-size: 12pt;color:#000000;"><font color=3D"#000000" fa=
ce=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"></font></f=
ont></p></span></span><span>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;"><span></span></font></p><p align=3D"justify"=
 style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0=
px;margin: 0;line-height: 17pt; text-align: justify;"></p><div align=3D"jus=
tify" style=3D"text-align: justify;"><span style=3D"font-size: 12pt; font-f=
amily: Arial, Helvetica; background-color: transparent;"></span></div><span=
>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;">By taking on the financial and logistical bu=
rden, StaalX&nbsp;provides a level of security and simplicity that is other=
wise difficult to achieve when trading with new, unknown partners. It elimi=
nates the need for buyers and sellers to conduct extensive onboarding or cr=
edit checks on each other.</font></p><p align=3D"justify" style=3D"line-hei=
ght:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px=
;margin: 0;text-align: justify; line-height: 17pt;"><font color=3D"#000000"=
 face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><br></f=
ont></p><p align=3D"justify" style=3D"font-family:Arial,verdana;font-size:1=
2px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: jus=
tify;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size=
: 12pt;color:#000000;"></font></p><p align=3D"justify" style=3D"line-height=
:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;ma=
rgin: 0;text-align: justify; line-height: 17pt;"><font color=3D"#000000" fa=
ce=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><font colo=
r=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000=
000;">A pure, hands-off marketplace model, a staple of consumer e-commerce,=
 is incompatible with the complexities of the steel industry. Trust is the =
single most critical currency in the B2B steel industry, where a single tra=
nsaction can be worth hundreds of thousands or even millions of dollars. Si=
mply deep trust is required for high-value transactions and the buyers will=
 need to know that their orders will be fulfilled without worrying about th=
e seller's performance. StaalX guarantees the success of the transaction.&n=
bsp;&nbsp;</font></font></p><p align=3D"justify" style=3D"line-height:1.7;f=
ont-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: =
0;text-align: justify;"></p><p align=3D"justify" style=3D"line-height:1.7;f=
ont-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: =
0;text-align: justify; line-height: 17pt;"><font color=3D"#000000" face=3D"=
Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><br></font></p><=
p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font=
-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-h=
eight: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"fo=
nt-size: 12pt;color:#000000;">Of course, there are other benefits of this m=
odel as not all sellers in the steel market want&nbsp;to be on an open plat=
form, listing and offering products that may not be welcomed by their tradi=
tional customers. With our model, sellers enjoy anonymity and freely discou=
nt when they need to move their obsolete inventory. Buyers reap the benefit=
s.&nbsp;&nbsp;</font></p><p align=3D"justify" style=3D"line-height:1.7;font=
-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;t=
ext-align: justify; line-height: 17pt;"><font color=3D"#000000" face=3D"Ari=
al, Helvetica" style=3D"font-size: 12pt;color:#000000;"><br></font></p><p a=
lign=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-si=
ze:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-heig=
ht: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-=
size: 12pt;color:#000000;">This is our current marketplace model for the ma=
terial on the ground and ready for immediate shipment. StaalX is also worki=
ng on another model, codenamed StaalX NeXt for future bookings of orders, i=
ncluding domestic and import future rollings and shipments, one, two or mor=
e months down the line deliveries. The model will likely adopt a transparen=
t relationship between buyers and sellers and StaalX will fulfill the role =
of logistics, customs clearance and finance as a service, and making transa=
ctions easier, as our corporate mission dictates.&nbsp;&nbsp;</font></p><p =
align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-s=
ize:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-hei=
ght: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font=
-size: 12pt;color:#000000;"><br></font></p><p align=3D"justify" style=3D"li=
ne-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;paddi=
ng:0px;margin: 0;text-align: justify; line-height: 17pt;"><font color=3D"#0=
00000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">S=
tay tuned for that and check out our current offers at StaalX.com.&nbsp;</f=
ont></p>

</span><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verd=
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lign: justify;"></p></span><p style=3D"margin: 0;padding: 0px;font-family:A=
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=09=09</tbody></table>
       =09  </div>
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=09=09=09 <tbody><tr><td class=3D"txtsize" style=3D" mso-table-lspace:0pt; =
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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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ize: 0px; width: 100%; margin: auto;" width=3D"100%"> <tbody><tr><td align=
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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>
=09=09=09</td></tr></tbody></table>
=09=09=09</div>
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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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=09=09=09<a href=3D"https://qprdy-zgpvh.maillist-manage.net/click/1c08f772a=
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arget=3D"_blank" zcurl_name=3D"l_3">
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t-size: 26px;color:#000000; font-weight:normal; color:#000000;padding: 0px;=
margin: 0;text-align: justify;">

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lor:#000000;padding:0px;margin: 0;font-size: 16px; line-height: 17pt; text-=
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lor:#000000;padding:0px;margin: 0;font-size: 16px; line-height: 17pt; text-=
align: justify;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D=
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lor:#000000;padding:0px;margin: 0;font-size: 16px; line-height: 17pt; text-=
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lor:#000000;padding:0px;margin: 0;font-size: 16px; line-height: 17pt; text-=
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lor:#000000;padding:0px;margin: 0;font-size: 16px; line-height: 17pt; text-=
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lor:#000000;padding:0px;margin: 0;font-size: 16px; line-height: 17pt; text-=
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lor:#000000;padding:0px;margin: 0;font-size: 16px; line-height: 17pt; text-=
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height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;"><span>

</span></font></p><p align=3D"justify" style=3D"line-height:1.7;font-family=
:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-ali=
gn: justify; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, Hel=
vetica" style=3D"font-size: 12pt;color:#000000;"><span style=3D"background-=
color: transparent; font-family: Arial, Helvetica; font-size: 12pt;"><span>

</span></span></font></p><p align=3D"justify" style=3D"font-family:Arial,ve=
rdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt=
; text-align: justify;"><font color=3D"#000000" face=3D"Arial, Helvetica" s=
tyle=3D"font-size: 12pt;color:#000000;"><font color=3D"#000000" face=3D"Ari=
al, Helvetica" style=3D"font-size: 12pt;color:#000000;"></font></font></p><=
/span><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verda=
na;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify;=
"></p><span>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;"></font></p><span>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;"><span>

</span></font></p><p align=3D"justify" style=3D"line-height:1.7;font-family=
:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-ali=
gn: justify; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, Hel=
vetica" style=3D"font-size: 12pt;color:#000000;"><font color=3D"#000000" fa=
ce=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"></font></f=
ont></p></span></span><span>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;"><span></span></font></p><p align=3D"justify"=
 style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0=
px;margin: 0;line-height: 17pt; text-align: justify;"></p><div align=3D"jus=
tify" style=3D"text-align: justify;"><span style=3D"font-size: 12pt; font-f=
amily: Arial, Helvetica; background-color: transparent;"></span></div><span=
>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;">The U.S. rebar market is currently in a puzz=
ling state. Despite a seemingly troublesome outlook for the broader constru=
ction sector, the rebar market is experiencing a tight supply situation, wi=
th most domestic mills reporting near-zero floor stock. How did we arrive a=
t this point?</font></p><p align=3D"justify" style=3D"line-height:1.7;font-=
family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;te=
xt-align: justify; line-height: 17pt;"><font color=3D"#000000" face=3D"Aria=
l, Helvetica" style=3D"font-size: 12pt;color:#000000;"><br></font></p><p al=
ign=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-siz=
e:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-heigh=
t: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-s=
ize: 12pt;color:#000000;">The challenges in construction are undeniable. A =
crackdown on immigration has led to a significant labor crunch, with nearly=
 45% of contractors citing workforce issues as a cause of project delays. A=
dditionally, 16% of contractors are reporting project impacts related to ta=
riffs. Rebar fabricators confirm this trend, noting that while they are est=
imating a high volume of projects, fewer are actually moving forward. High =
interest rates are also a major headwind, and it is unlikely they will drop=
 fast enough this year to have a material impact on project costs. While th=
e overall construction activity is seeing some contraction, it remains at a=
 decent level, effectively absorbing available supply despite these self-im=
posed obstacles.</font></p><p align=3D"justify" style=3D"line-height:1.7;fo=
nt-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0=
;text-align: justify; line-height: 17pt;"><font color=3D"#000000" face=3D"A=
rial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><br></font></p><p=
 align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-=
size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-he=
ight: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"fon=
t-size: 12pt;color:#000000;">On the import front, rebar offers are scarce. =
Ongoing antidumping duties have severely limited options, and the few offer=
s that exist are priced very close to what large domestic buyers&mdash;fabr=
icators and master distributors&mdash;are paying. This lack of a significan=
t price advantage means that imported rebar is not gaining much traction. T=
his has also widened the gap in buying prices between small and large domes=
tic purchasers, with preferential pricing becoming more common.</font></p><=
p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font=
-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-h=
eight: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"fo=
nt-size: 12pt;color:#000000;"><br></font></p><p align=3D"justify" style=3D"=
line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;pad=
ding:0px;margin: 0;text-align: justify; line-height: 17pt;"><font color=3D"=
#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"=
>Long Products Market Dynamics</font></p><p align=3D"justify" style=3D"line=
-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;text-align: justify; line-height: 17pt;"><font color=3D"#000=
000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><br=
></font></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial=
,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: ju=
stify; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica=
" style=3D"font-size: 12pt;color:#000000;">The wire rod market is notably c=
almer. Following Nucor's decision to hold prices steady and a stable scrap =
market, major price shifts are not anticipated in the near term.</font></p>=
<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;"><br></font></p><p align=3D"justify" style=3D=
"line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;pa=
dding:0px;margin: 0;text-align: justify; line-height: 17pt;"><font color=3D=
"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;=
">However, the import environment for wire rod is becoming increasingly cha=
llenging. While there is interest in Q1 2026 arrivals, it is getting harder=
 to put together shipments and volume. Some major wire rod exporters to the=
 U.S. have been hit by rebar antidumping cases, and this has complicated th=
eir ability to make combined shipments, making the import landscape for rod=
s significantly more difficult.</font></p><p align=3D"justify" style=3D"lin=
e-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;paddin=
g:0px;margin: 0;text-align: justify; line-height: 17pt;"><font color=3D"#00=
0000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><b=
r></font></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Aria=
l,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: j=
ustify; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetic=
a" style=3D"font-size: 12pt;color:#000000;">Looking Ahead</font></p><p alig=
n=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:=
12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-height:=
 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-siz=
e: 12pt;color:#000000;"><br></font></p><p align=3D"justify" style=3D"line-h=
eight:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0=
px;margin: 0;text-align: justify; line-height: 17pt;"><font color=3D"#00000=
0" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;">The d=
ivergence in pricing between long products and flat-rolled products has bee=
n a notable market quirk this year. Since the doubling of Section 232 tarif=
fs in June, long product prices have been on the rise while flat-rolled pri=
ces have moved in the opposite direction. This can be attributed to increas=
ed domestic flat-rolled production, which has intensified competition among=
 U.S. mills rather than with imports.</font></p><p align=3D"justify" style=
=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000=
;padding:0px;margin: 0;text-align: justify; line-height: 17pt;"><font color=
=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#0000=
00;"><br></font></p><p align=3D"justify" style=3D"line-height:1.7;font-fami=
ly:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-a=
lign: justify; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, H=
elvetica" style=3D"font-size: 12pt;color:#000000;">This dynamic may be shor=
t-lived for rebar. New domestic production capacity from Hybar, CMC and Nuc=
or is scheduled to come online in Q4 2025 and Q1 2026. This influx of suppl=
y is expected to ease the current shortage and could potentially lead to a =
price correction in the near future.</font></p>

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y:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-he=
ight: 17pt;"></p><font style=3D"line-height: 17pt;"><font style=3D"font-siz=
e: 12pt; line-height: 17pt;"><font face=3D"Arial, Helvetica" style=3D"font-=
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"font-size: 12pt; line-height: 17pt;"><font face=3D"Arial, Helvetica" style=
=3D"font-size: 12pt; line-height: 17pt;"><font color=3D"#000000" face=3D"Ar=
ial, Helvetica" style=3D"font-size: 12pt; color: rgb(0, 0, 0); line-height:=
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</font></font></font></b></font></font><p style=3D"font-family:Arial,verdan=
a;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"><=
/p></font><font style=3D"line-height: 17pt;"><font style=3D"font-size: 12pt=
; line-height: 17pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: 1=
2pt; line-height: 17pt;"><b><font face=3D"Arial, Helvetica" style=3D"font-s=
ize: 12pt; line-height: 17pt;"><font face=3D"Arial, Helvetica" style=3D"fon=
t-size: 12pt; line-height: 17pt;">

</font></font></b></font></font></font><font style=3D"line-height: 17pt;"><=
font style=3D"font-size: 12pt; line-height: 17pt;"><font face=3D"Arial, Hel=
vetica" style=3D"font-size: 12pt; line-height: 17pt;"><b><font face=3D"Aria=
l, Helvetica" style=3D"font-size: 12pt; line-height: 17pt;"><font face=3D"A=
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</font></font></b></font></font></font><p style=3D"font-family:Arial,verdan=
a;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"><=
/p><font style=3D"line-height: 17pt;"><font style=3D"font-size: 12pt; line-=
height: 17pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt; li=
ne-height: 17pt;"><b><font face=3D"Arial, Helvetica" style=3D"font-size: 12=
pt; line-height: 17pt;">

</font></b></font></font></font><font style=3D"line-height: 17pt;"><font st=
yle=3D"font-size: 12pt; line-height: 17pt;"><font face=3D"Arial, Helvetica"=
 style=3D"font-size: 12pt; line-height: 17pt;"><b><font face=3D"Arial, Helv=
etica" style=3D"font-size: 12pt; line-height: 17pt;">





</font></b></font></font></font><p style=3D"font-family:Arial,verdana;font-=
size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"></p><p s=
tyle=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px=
;margin: 0;line-height: 17pt;"></p><font style=3D"font-size: 12pt; line-hei=
ght: 17pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt; line-=
height: 17pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt; li=
ne-height: 17pt;">

</font></font></font><p style=3D"font-family:Arial,verdana;font-size:12px; =
color:#000000;padding:0px;margin: 0;line-height: 17pt;"></p><p style=3D"fon=
t-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;=
line-height: 17pt;"></p><p style=3D"font-family:Arial,verdana;font-size:12p=
x; color:#000000;padding:0px;margin: 0;line-height: 17pt;"></p><p style=3D"=
font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin:=
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12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"></p><font sty=
le=3D"line-height: 17pt;"><font face=3D"Arial, Helvetica" style=3D"font-siz=
e: 12pt; line-height: 17pt;">





</font><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;=
padding:0px;margin: 0;line-height: 17pt;"></p></font><p style=3D"font-famil=
y:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-he=
ight: 17pt;"></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-heig=
ht: 17pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: 16pt; line-h=
eight: 17pt;"><b><font face=3D"Arial, Helvetica" style=3D"font-size: 12pt; =
line-height: 17pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: 12p=
t; line-height: 17pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: =
12pt; line-height: 17pt;"><font face=3D"Arial, Helvetica" style=3D"font-siz=
e: 12pt; line-height: 17pt;"><b style><font style=3D"line-height: 17pt;"><f=
ont style=3D"line-height: 17pt;"><font style=3D"line-height: 17pt;"><font s=
tyle=3D"line-height: 17pt;"><span style=3D"line-height: 17pt;"><span style=
=3D"line-height: 17pt;"><span style=3D"line-height: 17pt;"><span style=3D"l=
ine-height: 17pt;"><span style=3D"line-height: 17pt;">

</span></span>

</span></span>

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

</b></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000=
;padding:0px;margin: 0;line-height: 17pt;"></p><p style=3D"font-family:Aria=
l,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: =
17pt;"></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000=
000;padding:0px;margin: 0;line-height: 17pt;"></p><p style=3D"font-family:A=
rial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-heigh=
t: 17pt;"></p><p style=3D"font-family:Arial,verdana;font-size:12px; color:#=
000000;padding:0px;margin: 0;line-height: 17pt;"></p><p style=3D"font-famil=
y:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-he=
ight: 17pt;"></p><p style=3D"font-family:Arial,verdana;font-size:12px; colo=
r:#000000;padding:0px;margin: 0;line-height: 17pt;"></p></div></div></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1757017978206" 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  <div class=3D"zpelement-wrapper" id=3D"elm_1757017978206" style=3D";wo=
rd-wrap:break-word;overflow:hidden;padding-right:0px;background-color:;">
=09    =09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"=
zpAlignPos" style=3D" mso-table-lspace:0pt; mso-table-rspace:0pt;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%;-web=
kit-text-size-adjust: 100%;" width=3D"100%">
=09  =09<tbody><tr><td class=3D"txtsize paddingcomp" style=3D"border-collap=
se:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvet=
ica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px=
 15px;line-height:1.7;border-top:0px none ;   border-bottom:0px none ;paddi=
ng-top:7px;padding-bottom:7px;padding-right:15px;padding-left:15px;">
             =09    =09=09<div><p purpose=3D"polqus" style=3D"line-height:1=
.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;marg=
in: 0;text-align: left;" type=3D"hor"><font size=3D"2" style=3D"font-size: =
12pt;">What do you think?  Will the flat rolled prices go up long products =
prices come down to close the pricing gap between these basic products grou=
ps?</font></p><ul purpose=3D"poloptns" style=3D"padding: 0px;Margin: 0px;li=
ne-height: 21pt; list-style:none;text-align:left" type=3D"disc"><li purpose=
=3D"option" style=3D"margin: 0px; line-height: 21pt; font-family: Arial, He=
lvetica, sans-serif; font-size: 12px; color: rgb(0, 99, 254); display: list=
-item; outline: none;"><a href=3D"https://qprdy-zgpvh.maillist-manage.net/c=
lick/1c08f772a427afe0/1c08f772a427a99c" rel=3D"noopener noreferrer" style=
=3D"text-decoration:underline;margin: 0px; line-height: 21pt; font-family: =
Arial, Helvetica, sans-serif; font-size: 12px; color: rgb(0, 99, 254); disp=
lay: list-item; text-decoration: none;" target=3D"_blank" zcurl_name=3D"l_4=
"><span purpose=3D"listType">&bull;  </span><font style=3D"font-family: Ari=
al, Helvetica, sans-serif; font-size: 12pt; color: rgb(0, 99, 254); text-de=
coration: underline; padding-left: 5px;">Flat rolled prices will go up.  Th=
e market hasn't digested built up inventories but eventually we should see =
significant price increases in the traditionally volatile flat rolled produ=
cts</font></a><li purpose=3D"option" style=3D"margin: 0px; line-height: 21p=
t; font-family: Arial, Helvetica, sans-serif; font-size: 12px; color: rgb(0=
, 99, 254); display: list-item; outline: none;"><a href=3D"https://qprdy-zg=
pvh.maillist-manage.net/click/1c08f772a427afe0/1c08f772a427a99e" rel=3D"noo=
pener noreferrer" style=3D"margin: 0px; line-height: 21pt; font-family: Ari=
al, Helvetica, sans-serif; font-size: 12px; color: rgb(0, 99, 254); display=
: list-item; outline: none;text-decoration: none;" target=3D"_blank" zcurl_=
name=3D"l_5"><span purpose=3D"listType">&bull;  </span><font style=3D"font-=
family: Arial, Helvetica, sans-serif; font-size: 12pt; color: rgb(0, 99, 25=
4); text-decoration: underline; padding-left: 5px;">Long Products prices wi=
ll go down.  Wire rod and rebar prices are already quite inflated and as so=
on as domestic production increases, prices will start coming down</font></=
a></ul></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1754510152623" 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_1754510152623"=
 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" 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=
0%;-webkit-text-size-adjust: 100%;background-color:;" width=3D"100%">
=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"=
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;border-collapse:collapse; ms=
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=
=3D"center" border-size=3D"1px" height=3D"0" 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;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>
=09=09=09</td></tr></tbody></table>
=09=09=09</div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1754510000229" 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_1754510000229" 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" mso-table-lspace:0pt; mso-table-rspace:0pt;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%;-web=
kit-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:19pt;border-top=
:0px none ;   border-bottom:0px none ;padding-top:7px;padding-bottom:7px;pa=
dding-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: 25pt; text=
-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"c=
olor: rgb(0, 0, 0); font-size: 16pt;"><b style><span>

<span>

<span>

<span>

</span></span></span></span></b></font></p><h3 style=3D"margin: 0;padding: =
0px;font-family:Arial, Helvetica, sans-serif; color:#000000;color:#000000; =
font-weight:normal;font-family:Arial,verdana,Helvetica, sans-serif; color:#=
000000;font-size: 24px;"><font color=3D"#000000" face=3D"Arial, Helvetica" =
style=3D"color: rgb(0, 0, 0); font-size: 16pt;"><b style>=F0=9F=9A=9B Steel=
 Buying, Reimagined.</b></font></h3><font color=3D"#000000" face=3D"Arial, =
Helvetica" style=3D"color: rgb(0, 0, 0); font-size: 16pt;"><b style>







</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></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1755114393571" 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_1755114393571" 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" mso-table-lspace:0pt; mso-table-rspace:0pt;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%;-web=
kit-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:19pt;border-top=
:0px none ;   border-bottom:0px none ;padding-top:7px;padding-bottom:7px;pa=
dding-right:15px;padding-left:15px;">
             =09    =09=09<div style><p align=3D"justify" style=3D"line-hei=
ght:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px=
;margin: 0;text-align: justify; line-height: 19pt;"><span><font style=3D"fo=
nt-size: 12pt;">

<span>

<span>

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

<h3 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: 24px;"><span style=3D"fon=
t-size: 12pt; font-family: Arial, Helvetica; background-color: transparent;=
">Sick of the back-and-forth?</span></h3><div><span style=3D"font-size: 12p=
t; font-family: Arial, Helvetica; background-color: transparent;"><br></spa=
n></div><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=
"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;">
The future of steel sourcing is already here &mdash; and it&rsquo;s faster =
and built for you.</font></p><p style=3D"font-family:Arial,verdana;font-siz=
e:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: =
left;"><font color=3D"#000000" 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 color=3D"#000000=
" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;"><strong>Why buyers a=
re switching to StaalX:</strong></font></p><p style=3D"font-family:Arial,ve=
rdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt=
; text-align: left;"><font color=3D"#000000" face=3D"Arial, Helvetica" styl=
e=3D"font-size: 12pt;">
=E2=9C=85 Live pricing &mdash; no more quote requests<br>
=E2=9C=85 Instant freight costs & delivery windows<br>
=E2=9C=85 Amazon-style checkout &mdash; for rebar, mesh & wire rod<br>
=E2=9C=85 Built-in tools that make fabricators' lives easier</font></p><p s=
tyle=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px=
;margin: 0;line-height: 19pt; text-align: left;"><font color=3D"#000000" fa=
ce=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, H=
elvetica" style=3D"font-size: 12pt;">=F0=9F=94=97 Ready to experience it? <=
a style=3D"text-decoration:underline;color: rgb(0, 0, 0); text-decoration: =
none;"><font color=3D"#000000" style>Visit</font> </a><font style=3D"text-d=
ecoration-line: none;"><a alt=3D"www.staalx.com" href=3D"https://qprdy-zgpv=
h.maillist-manage.net/click/1c08f772a427afe0/1c08f772a427a9a0" rel=3D"noope=
ner noreferrer" style=3D"text-decoration:underline;color: rgb(27, 107, 189)=
;" target=3D"_blank" title=3D"www.staalx.com" zcurl_name=3D"l_7"><font colo=
r=3D"#1b6bbd" style=3D"color:#1b6bbd;">www.staalx.com</font></a></font></fo=
nt></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"A=
rial, Helvetica" style=3D"font-size: 12pt;"><u><br></u>
=F0=9F=93=A6 Rebar. Wire rod. Mesh. It&rsquo;s all a click away.</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"=
#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"=
></font></p>

</span><font style><p style=3D"line-height:1.7;font-family:Arial,verdana; c=
olor:#000000;padding:0px;margin: 0;font-size: 12pt; line-height: 19pt; text=
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ont-size: 12pt;color:#000000;"></font></p></font><p style=3D"margin: 0;padd=
ing: 0px;font-family:Arial, Helvetica, sans-serif; color:#000000;line-heigh=
t: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_1722547708645" 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<table bgcolor=3D"transparent" border=3D"0" cellpadding=3D"0" cel=
lspacing=3D"0" style=3D" mso-table-lspace:0pt; mso-table-rspace:0pt;font-si=
ze:12px;border:0px;padding:0px;width:100%;border-collapse:collapse; mso-tab=
le-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;background-color:=
transparent;">
=09    <tbody><tr>
=09=09<td class=3D"txtsize" style=3D"border-collapse:collapse; mso-table-ls=
pace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-tabl=
e-rspace:0pt;font-size:12px;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_172=
2547708645" 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" mso-table-lspace:0pt; mso-table-rs=
pace:0pt;font-size:12px;text-align:left;width:100%;padding:0px;border:0px;b=
order-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-br=
eak:break-word;width:100%;text-align:left;">
            =09=09<tbody><tr><td class=3D"paddingcomp" style=3D"border-coll=
apse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helv=
etica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7=
px 15px;text-align:center;padding-top:7px;padding-bottom:7px;padding-right:=
15px;padding-left:15px;">
=09=09=09<a href=3D"https://qprdy-zgpvh.maillist-manage.net/click/1c08f772a=
427afe0/1c08f772a427a9a2" style=3D"text-decoration:underline;border:0px;" t=
arget=3D"_blank" zcurl_name=3D"l_8">
=09=09=09<img align=3D"left" alt=3D"StaalX Linkedin" class=3D"zpImage" heig=
ht=3D"auto" hspace=3D"0" size=3D"F" src=3D"https://stratus.campaign-image.c=
om/images/867215000021203004_zc_v1_1753894632946_screenshot_2025_07_28_1644=
02.png" style=3D"width:570px;height:autopx;max-width:570px !important;borde=
r:0px;text-align:left;" vspace=3D"0" width=3D"570">
=09=09=09</a>
=09=09=09</td></tr>
=09=09=09</tbody></table>
=09=09</div>
            </div>
            </td></tr></tbody></table>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1755114530450" 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_1755114530450=
" 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;">
                <tbody><tr>
                   <td align=3D"center" class=3D"txtsize" style=3D"border-c=
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            <center style=3D"direction:ltr;color:#ffffff;fon=
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_name=3D"l_9">
=09=09=09=09=09=09=09<font style=3D"color:#ffffff;display:table-cell;vertic=
al-align:middle;">
                     =09=09   Get a quote
=09=09=09=09=09=09=09</font>
                        </a>
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                </tbody></table>
            </div>
=09</div>
=09</td></tr></tbody></table>
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<tr><td class=3D"txtsize" id=3D"elm_1753894471574" 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">

          <div class=3D"zpelement-wrapper" id=3D"elm_1753894471574" 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" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:=
12px;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;=
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kit-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:19pt;border-top=
:0px none ;   border-bottom:0px none ;padding-top:7px;padding-bottom:7px;pa=
dding-right:15px;padding-left:15px;">
             =09    =09=09<div style><p align=3D"justify" style=3D"line-hei=
ght:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px=
;margin: 0;text-align: justify; line-height: 19pt;"><font face=3D"Arial, He=
lvetica" style=3D"font-size: 12pt;">

<font style>Explore the upgrades at&nbsp;<font color=3D"#006cfb" style=3D"c=
olor: rgb(0, 108, 251);"><a alt=3D"https://www.staalx.com" href=3D"https://=
qprdy-zgpvh.maillist-manage.net/click/1c08f772a427afe0/1c08f772a427a9a6" re=
l=3D"noopener noreferrer" style=3D"text-decoration:underline;color: rgb(0, =
108, 251);" target=3D"_blank" title=3D"https://www.staalx.com" zcurl_name=
=3D"l_10"><font color=3D"#006cfb" style=3D"color:#006cfb;">www.staalx.com</=
font></a></font>&nbsp;or get in touch today with <a alt=3D"websupport@staal=
x.com" href=3D"mailto:websupport@staalx.com?subject=3D" style=3D"text-decor=
ation:underline;color: rgb(0, 108, 251);" target=3D"_self" title=3D"websupp=
ort@staalx.com"><font color=3D"#006cfb" style=3D"color:#006cfb;">websupport=
@staalx.com</font></a> to see the difference.</font></font></p></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1753289415428" 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_1753289415428"=
 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=
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0%;-webkit-text-size-adjust: 100%;background-color:;" width=3D"100%">
=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=
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apse;">
=09=09=09=09=09<div class=3D"divider" componentborder=3D"#9babab" style=3D"=
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=3D"dvdrtbl" style=3D"border-collapse:collapse;border-collapse:collapse; ms=
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=
=3D"center" border-size=3D"1px" height=3D"0" 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;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>
=09=09=09</td></tr></tbody></table>
=09=09=09</div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1730997146187" 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_1730997146187" 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" mso-table-lspace:0pt; mso-table-rspace:0pt;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%;-web=
kit-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:25pt;border-top=
:0px none ;   border-bottom:0px none ;padding-top:10px;padding-bottom:5px;p=
adding-right:15px;padding-left:15px;">
             =09    =09=09<div componentlineheight=3D"25pt" componentpaddin=
gbottom=3D"5px" componentpaddingleft=3D"15px" componentpaddingright=3D"15px=
" componentpaddingtop=3D"10px" style><p align=3D"left" style=3D"font-family=
:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-hei=
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=
tent partner, SteelOrbis</font></b><br></p></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1651460085610" 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<table bgcolor=3D"transparent" border=3D"0" cellpadding=3D"0" cel=
lspacing=3D"0" style=3D" mso-table-lspace:0pt; mso-table-rspace:0pt;font-si=
ze:12px;border:0px;padding:0px;width:100%;border-collapse:collapse; mso-tab=
le-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;background-color:=
transparent;">
=09    <tbody><tr>
=09=09<td class=3D"txtsize" style=3D"border-collapse:collapse; mso-table-ls=
pace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-tabl=
e-rspace:0pt;font-size:12px;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=
1460085610" 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" mso-table-lspace:0pt; mso-table-rs=
pace:0pt;font-size:12px;text-align:left;width:100%;padding:0px;border:0px;b=
order-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-br=
eak:break-word;width:100%;text-align:left;">
            =09=09<tbody><tr><td class=3D"paddingcomp" style=3D"border-coll=
apse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helv=
etica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7=
px 15px;text-align:center;padding-top:0px;padding-bottom:0px;padding-right:=
0px;padding-left:0px;">
=09=09=09<a href=3D"https://qprdy-zgpvh.maillist-manage.net/click/1c08f772a=
427afe0/1c08f772a427a9a8" style=3D"text-decoration:underline;border:0px;" t=
arget=3D"_blank" zcurl_name=3D"l_12">
=09=09=09<img align=3D"left" alt=3D"https://campaign-image.com/zohocampaign=
s/867215000001006004_zc_v37_1651462575366_so_logo.png" class=3D"zpImage" he=
ight=3D"auto" hspace=3D"0" size=3D"F" src=3D"https://stratus.campaign-image=
.com/images/835649227/inkcanva_867215000011391383.png" style=3D"width:600px=
;height:autopx;max-width:600px !important;border:0px;text-align:left;" vspa=
ce=3D"0" width=3D"600">
=09=09=09</a>
=09=09=09</td></tr>
=09=09=09</tbody></table>
=09=09</div>
            </div>
            </td></tr></tbody></table>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1715204336913" 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_1715204336913" 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" mso-table-lspace:0pt; mso-table-rspace:0pt;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%;-web=
kit-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: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 align=3D"justify" style=3D"line-height:1.7;font-family:Ari=
al,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: =
justify;"><span>




















</span></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,=
verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: jus=
tify; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica"=
 style=3D"color: rgb(0, 0, 0); font-size: 14pt;"><b><span><span><span><span=
><span><span><span><span><span>US import rebar and wire rod prices still st=
rong amid trimmed supply, local shortages</span></span></span></span></span=
></span></span></span></span></b></font></p>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"MS Serif, New York, serif" s=
tyle=3D"font-size: 12pt;color:#000000;">Friday, 29 August 2025 14:23:59 (GM=
T+3) San Diego</font></p>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"f=
ont-size: 12pt;color:#000000;">&nbsp;</font></p>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-=
height: 17pt;"><span style=3D"font-size: 12pt; font-family: Arial, Helvetic=
a; background-color: transparent;"><span><span>US import rebar and wire rod=
 pricing has continued steady to higher amid continued low imports and as r=
eports of local supply shortages persist, market insiders told SteelOrbis t=
his week.</span></span></span></p><p align=3D"justify" style=3D"line-height=
:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;ma=
rgin: 0;text-align: justify; line-height: 17pt;"><span style=3D"font-size: =
12pt; font-family: Arial, Helvetica; background-color: transparent;"><span>=
<span><br></span></span></span></p><p align=3D"justify" style=3D"line-heigh=
t:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;m=
argin: 0;text-align: justify; line-height: 17pt;"><span style=3D"font-size:=
 12pt; font-family: Arial, Helvetica; background-color: transparent;"><span=
><span><span>Insiders continue to lament that the combination of ongoing 50=
 percent steel import tariffs and the enhanced importer risk associated wit=
h ongoing antidumping cases currently under review by the US Department of =
Commerce (DOC) continues to limit the amount of import material being made =
available as an alternative to domestic supply. As domestic prices continue=
 to rise, however, imports may be beginning to look more favorable.</span><=
br></span></span></span></p><p align=3D"justify" style=3D"line-height:1.7;f=
ont-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: =
0;text-align: justify; line-height: 17pt;"><span style=3D"font-size: 12pt; =
font-family: Arial, Helvetica; background-color: transparent;"><span><span>=
<span><br></span></span></span></span></p><p align=3D"justify" style=3D"lin=
e-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;paddin=
g:0px;margin: 0;text-align: justify; line-height: 17pt;"><span style=3D"fon=
t-size: 12pt; font-family: Arial, Helvetica; background-color: transparent;=
"><span><span><span><span>&ldquo;Supply availability is getting tighter and=
 US mills are getting busier, so some limited imports may begin to be possi=
ble,&rdquo; remarked one US Gulf Coast long steel insider to SteelOrbis. &l=
dquo;Availability could be a developing issue in certain parts of the count=
ry where import product was predominantly sold,&rdquo; said another long st=
eel insider. &ldquo;The US West is a bit more competitive,&rdquo; he added.=
</span><br></span></span></span></span></p><p align=3D"justify" style=3D"li=
ne-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;paddi=
ng:0px;margin: 0;text-align: justify; line-height: 17pt;"><span style=3D"fo=
nt-size: 12pt; font-family: Arial, Helvetica; background-color: transparent=
;"><span><span><span><span><br></span></span></span></span></span></p><p al=
ign=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-siz=
e:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-heigh=
t: 17pt;"><span style=3D"font-size: 12pt; font-family: Arial, Helvetica; ba=
ckground-color: transparent;"><span><span><span><span><span>Another SteelOr=
bis long steel importer source commented that shortages of rebar continue t=
o become more frequent in parts of south Texas, with talk of supply allocat=
ions on existing supply contracts from domestic mills in the US Southeast b=
eginning to be heard. Meaningful rebar supply relief from the Osceola, Arka=
nsas-based Hybar rebar mill is not expected to be seen in the market until =
the fourth quarter, he said.</span><br></span></span></span></span></span><=
/p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;=
font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; li=
ne-height: 17pt;"><span style=3D"font-size: 12pt; font-family: Arial, Helve=
tica; background-color: transparent;"><span><span><span><span><span><br></s=
pan></span></span></span></span></span></p><p align=3D"justify" style=3D"li=
ne-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;paddi=
ng:0px;margin: 0;text-align: justify; line-height: 17pt;"><span style=3D"fo=
nt-size: 12pt; font-family: Arial, Helvetica; background-color: transparent=
;"><span><span><span><span><span><span>The same source added, &ldquo;We&rsq=
uo;re seeing rebar imports at record lows with July licenses reported at 34=
,051 metric tons, down 73 percent month on month, with August pacing at 44,=
510 metric tons as of August 18. Domestic mills are running at high capacit=
y of around 800,000 tons per month, but they continue to restrict spot orde=
rs in order to protect spot pricing markets.&rdquo;</span><br></span></span=
></span></span></span></span></p><p align=3D"justify" style=3D"line-height:=
1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;text-align: justify; line-height: 17pt;"><span style=3D"font-size: 1=
2pt; font-family: Arial, Helvetica; background-color: transparent;"><span><=
span><span><span><span><span><br></span></span></span></span></span></span>=
</span></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,=
verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: jus=
tify; line-height: 17pt;"><span style=3D"font-size: 12pt; font-family: Aria=
l, Helvetica; background-color: transparent;"><span><span><span><span><span=
><span><span>This week, import rebar on a loaded truck basis on the US Gulf=
 Coast is discussed at $40-45/cwt., ($800-900/nt or $882-992/mt), depending=
 on the size of the customer, with most transactions averaging $1.00/cwt. h=
igher at $44.50/cwt, up from $43-44/cwt. ($860-880/nt or $948-970/mt), or o=
n average $43.50/cwt. one week prior. Insiders said shortages in south Texa=
s have caused some local suppliers to raise price offers toward $46-47/cwt,=
 though it remains unclear whether buyers are interested yet.</span><br></s=
pan></span></span></span></span></span></span></p><p align=3D"justify" styl=
e=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#00000=
0;padding:0px;margin: 0;text-align: justify; line-height: 17pt;"><span styl=
e=3D"font-size: 12pt; font-family: Arial, Helvetica; background-color: tran=
sparent;"><span><span><span><span><span><span><span><br></span></span></spa=
n></span></span></span></span></span></p><p align=3D"justify" style=3D"line=
-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding=
:0px;margin: 0;text-align: justify; line-height: 17pt;"><span style=3D"font=
-size: 12pt; font-family: Arial, Helvetica; background-color: transparent;"=
><span><span><span><span><span><span><span><span>On the US East Coast, impo=
rt rebar gained a bit less again this week versus the Gulf Coast, insiders =
said, with most transactions averaging at $42-46/cwt., depending on custome=
r size, settling the week about $0.50/cwt. higher at on&nbsp;<span>average =
$45.00/cwt. ($900/nt or $992/mt). Reports persist of shortages of some size=
s of rebar product as imports wane and domestic mills struggle to fill a gr=
owing supply gap by boosting output.</span></span><br></span></span></span>=
</span></span></span></span></span></p><p align=3D"justify" style=3D"line-h=
eight:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0=
px;margin: 0;text-align: justify; line-height: 17pt;"><span style=3D"font-s=
ize: 12pt; font-family: Arial, Helvetica; background-color: transparent;"><=
span><span><span><span><span><span><span><span><span><br></span></span></sp=
an></span></span></span></span></span></span></span></p><p align=3D"justify=
" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color:=
#000000;padding:0px;margin: 0;text-align: justify; line-height: 17pt;"><spa=
n style=3D"font-size: 12pt; font-family: Arial, Helvetica; background-color=
: transparent;"><span><span><span><span><span><span><span><span><span><span=
>In the import wire rod markets, import wire rod offers in the Port of Hous=
ton are heard at $44-49/cwt. ($880- 980/nt or $970-1,080/mt) inclusive of t=
ariffs, though most are deemed non-viable compared with domestic mesh trade=
s heard flat this week at $42.50-43.50/cwt. ($850-870/nt or $937-959/mt).</=
span><br></span></span></span></span></span></span></span></span></span></s=
pan></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,ver=
dana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justif=
y; line-height: 17pt;"><span style=3D"font-size: 12pt; font-family: Arial, =
Helvetica; background-color: transparent;"><span><span><span><span><span><s=
pan><span><span><span><span><br></span></span></span></span></span></span><=
/span></span></span></span></span></p><p align=3D"justify" style=3D"line-he=
ight:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0p=
x;margin: 0;text-align: justify; line-height: 17pt;"><span style=3D"font-si=
ze: 12pt; font-family: Arial, Helvetica; background-color: transparent;"><s=
pan><span><span><span><span><span><span><span><span><span><span>&ldquo;Sinc=
e Nucor attempted a $20/ton increase in wire rod pricing in July, traction =
in the market has remained limited,&rdquo; one Mexican long steel insider t=
old SteelOrbis. &ldquo;We&rsquo;re seeing lead times for domestic wire rod =
at five to six weeks with demand fairly steady but not strong as a result o=
f tariffs,&rdquo; he added. &ldquo;Imports remain scarce keeping supply bal=
anced despite sluggish consumption as buyers continue to wait for lower int=
erest rates before stepping up their orders.&rdquo;</span><br></span></span=
></span></span></span></span></span></span></span></span></span></p><p alig=
n=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:=
12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-height:=
 17pt;"><span style=3D"font-size: 12pt; font-family: Arial, Helvetica; back=
ground-color: transparent;"><span><span><span><span><span><span><span><span=
><span><span><span><br></span></span></span></span></span></span></span></s=
pan></span></span></span></span></p><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;"><span style=3D"font-size=
: 12pt; font-family: Arial, Helvetica; background-color: transparent;"><spa=
n><span><span><span><span><span><span><span><span><span><span><span>Recent =
industry reports from this week&rsquo;s SMU Steel Summit in Atlanta, Georgi=
a, indicated there is currently an 80 percent certainty in financial market=
 circles that the US Federal Reserve will lower the over-night bank lending=
 rate by a one-quarter point at the next Fed Open Market Committee meeting =
on September 16-17. Rates have remained at 4.25-4.50 percent since December=
 2024 and have been blamed for a general lack of investment in US infrastru=
cture projects.</span><br></span></span></span></span></span></span></span>=
</span></span></span></span></span></p><p align=3D"justify" style=3D"line-h=
eight:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0=
px;margin: 0;text-align: justify; line-height: 17pt;"><span style=3D"font-s=
ize: 12pt; font-family: Arial, Helvetica; background-color: transparent;"><=
span><span><span><span><span><span><span><span><span><span><span><span><br>=
</span></span></span></span></span></span></span></span></span></span></spa=
n></span></span></p><p align=3D"justify" style=3D"line-height:1.7;font-fami=
ly:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-a=
lign: justify; line-height: 17pt;"><span style=3D"font-size: 12pt; font-fam=
ily: Arial, Helvetica; background-color: transparent;"><span><span><span><s=
pan><span><span><span><span><span><span><span><span><span>In the Mexican lo=
ng steel markets, while 50 percent tariffs remain in place, pre-tariff reba=
r available in the vicinity of Houston, Texas, on a loaded truck basis is l=
ittle changed at $40-42/cwt. ($800-840/nt or $937/mt to $959/mt), compared =
with earlier weekly estimates at $40-43/cwt., insiders said. As Mexico cont=
inues to deal with high export tariffs to the US, one Mexican trader told S=
teelOrbis that their direct sales of long steel to Canada via ship and rail=
 have increased fourfold, helping to support recent local Mexican price sta=
bility in the face of unremarkable demand.</span><br></span></span></span><=
/span></span></span></span></span></span></span></span></span></span></p><p=
 align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-=
size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-he=
ight: 17pt;"><br></p><p align=3D"justify" style=3D"line-height:1.7;font-fam=
ily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-=
align: justify; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, =
Helvetica" style=3D"font-size: 12pt;color:#000000;"><br></font></p><p align=
=3D"justify" style=3D"font-family:Arial,verdana;font-size:12px; color:#0000=
00;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font col=
or=3D"#000000" style=3D"color: rgb(0, 0, 0);">




















</font></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,=
verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: jus=
tify; font-family: Arial, Helvetica; line-height: 17pt;"><font color=3D"#00=
0000" style=3D"color: rgb(0, 0, 0);"><font color=3D"#000000" face=3D"Arial,=
 Helvetica" style=3D"color: rgb(0, 0, 0); font-size: 14pt;"><b><span><span>=
<span><span><span><span><span><span>Local US rebar and wire rod prices stab=
le for fifth straight week</span></span></span></span></span></span></span>=
</span></b></font></font></p><font color=3D"#000000" style=3D"color: rgb(0,=
 0, 0);">

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; font-=
size: 12pt; line-height: 17pt;"><font color=3D"#000000" face=3D"MS Serif, N=
ew York, serif" style=3D"font-size: 12pt; color: rgb(0, 0, 0);">Friday, 29 =
August 2025 17:09:36 (GMT+3) San Diego</font></p>

<p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;fon=
t-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; font-=
family: Arial, Helvetica; font-size: 12pt; line-height: 17pt;"><font color=
=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#0000=
00;">&nbsp;</font></p><p align=3D"justify" style=3D"line-height:1.7;font-fa=
mily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text=
-align: justify; font-family: Arial, Helvetica; font-size: 12pt; line-heigh=
t: 17pt;"><font color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-s=
ize: 12pt;color:#000000;"><span><span><span><span><span><span><span><span><=
span>US domestic rebar and wire rod prices have remained unchanged this wee=
k as scrap stays sideways to lower. Domestic availability in the US is bein=
g discussed as an issue where import products are predominantly being sold.=
 Transitioning to September, the steel market should start to move out of t=
he &ldquo;summer doldrums&rdquo; reported last week.&nbsp;</span></span></s=
pan></span></span></span></span></span></span></font></p><p align=3D"justif=
y" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color=
:#000000;padding:0px;margin: 0;text-align: justify; font-family: Arial, Hel=
vetica; font-size: 12pt; line-height: 17pt;"><font color=3D"#000000" face=
=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><span><span>=
<span><span><span><span><span><span><span><br></span></span></span></span><=
/span></span></span></span></span></font></p><p align=3D"justify" style=3D"=
line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;pad=
ding:0px;margin: 0;text-align: justify; font-family: Arial, Helvetica; font=
-size: 12pt; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, Hel=
vetica" style=3D"font-size: 12pt;color:#000000;"><span><span><span><span><s=
pan><span><span><span><span>In the weekly rebar spot markets, domestic supp=
ly on FOB mill basis was assessed with most transactions noted at $43.50-44=
.50/cwt ($870-890/nt or $959-981/mt), on average $44.00/cwt, ($880/nt or $9=
70/mt), unchanged from seven days ago. &ldquo;The domestic rebar is expecte=
d to move slightly higher next week,&rdquo; according to a long steel conta=
ct.&nbsp;</span></span></span></span></span></span></span></span></span></f=
ont></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,ver=
dana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justif=
y; font-family: Arial, Helvetica; font-size: 12pt; line-height: 17pt;"><fon=
t color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;colo=
r:#000000;"><span><span><span><span><span><span><span><span><span><br></spa=
n></span></span></span></span></span></span></span></span></font></p><p ali=
gn=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-size=
:12px; color:#000000;padding:0px;margin: 0;text-align: justify; font-family=
: Arial, Helvetica; font-size: 12pt; line-height: 17pt;"><font color=3D"#00=
0000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><s=
pan><span><span><span><span><span><span><span><span>In the domestic wire ro=
d market, domestic supply on FOB mill basis was assessed with most transact=
ions reported this week at $46.50-47.50/cwt ($930-950/nt or $1,025-1,047/mt=
), or an average of $47.00/cwt ($940/nt or $1,036/mt), unchanged from seven=
 days ago.</span></span></span></span></span></span></span></span></span></=
font></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,ve=
rdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justi=
fy; font-family: Arial, Helvetica; font-size: 12pt; line-height: 17pt;"><fo=
nt color=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;col=
or:#000000;"><span><span><span><span><span><span><span><br></span></span></=
span></span></span></span></span></font></p><p align=3D"justify" style=3D"l=
ine-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padd=
ing:0px;margin: 0;text-align: justify; font-family: Arial, Helvetica; font-=
size: 12pt; line-height: 17pt;"><font color=3D"#000000" face=3D"Arial, Helv=
etica" style=3D"font-size: 12pt;color:#000000;"><span><span><span><span><sp=
an><span><span><br></span></span></span></span></span></span></span></font>=
</p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana=
;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; f=
ont-family: Arial, Helvetica; font-size: 12pt; line-height: 17pt;"><font co=
lor=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#0=
00000;"><span><span><span><span><span><span><span><span>

</span></span></span></span></span></span></span></span></font></p><p style=
=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000" face=
=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><font color=
=3D"#000000" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#0000=
00;"><font><font><b><span><span><span>September US scrap seen sideways to d=
own for third week amid declining flat steel, start of maintenance season</=
span></span></span></b></font></font></font></font></p><font color=3D"#0000=
00" face=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><fon=
t><p style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;paddi=
ng: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;"><fon=
t>Thursday, 28 August 2025 23:36:01 (GMT+3) San Diego</font></font></p><p s=
tyle=3D"font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px=
;margin: 0;line-height: 17pt; text-align: left;"><font color=3D"#000000" fa=
ce=3D"Arial, Helvetica" style=3D"font-size: 12pt;color:#000000;"><font>&nbs=
p;</font></font></p><p align=3D"justify" style=3D"line-height:1.7;font-fami=
ly:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-a=
lign: justify; line-height: 17pt;"><span style=3D"font-size: 12pt; font-fam=
ily: Arial, Helvetica; background-color: transparent;"><span><span>The outl=
ook for September US scrap pricing next month remained unchanged for a thir=
d week at sideways to potentially lower this week as a result of continued =
reports of low flat steel pricing as well as new reports that September-Nov=
ember mill maintenance programs could further limit local mill scrap buys d=
uring the September buy-cycle negotiation period next month, market insider=
s told SteelOrbis. Reports of a continued prime scrap &ldquo;overhang,&rdqu=
o; the result of reduced mill purchases of prime scrap during August supply=
 negotiations continued, but to less an extent than were heard the week pri=
or.</span></span></span></p><p align=3D"justify" style=3D"line-height:1.7;f=
ont-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: =
0;text-align: justify; line-height: 17pt;"><span style=3D"font-size: 12pt; =
font-family: Arial, Helvetica; background-color: transparent;"><span><span>=
<br></span></span></span></p><p align=3D"justify" style=3D"line-height:1.7;=
font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin:=
 0;text-align: justify; line-height: 17pt;"><span style=3D"font-size: 12pt;=
 font-family: Arial, Helvetica; background-color: transparent;"><span><span=
><span>&ldquo;We&rsquo;re expecting to see scrap coming off a bit in Septem=
ber as supply is steady although demand is likely to fall as a result of th=
e annual mill outage season,&rdquo; remarked one US Midwest-based mill scra=
p buyer. &ldquo;We&rsquo;re not expecting anything dramatic, but, we could =
see prime scrap trade off between $10-20/ton.&rdquo;</span><br></span></spa=
n></span></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Aria=
l,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: j=
ustify; line-height: 17pt;"><span style=3D"font-size: 12pt; font-family: Ar=
ial, Helvetica; background-color: transparent;"><span><span><span><br></spa=
n></span></span></span></p><p align=3D"justify" style=3D"line-height:1.7;fo=
nt-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0=
;text-align: justify; line-height: 17pt;"><span style=3D"font-size: 12pt; f=
ont-family: Arial, Helvetica; background-color: transparent;"><span><span><=
span><span>&ldquo;There&rsquo;s really not anything new out there on the co=
nsensus for September scrap&rdquo; said another Gulf Coast scrap insider. &=
ldquo;We&rsquo;re seeing the status quo, as there appears to be some downsi=
de pressure on primes. We&rsquo;ll see if that happens, but, all other grad=
es are anticipated to trade sideways to August.&rdquo;</span><br></span></s=
pan></span></span></p><p align=3D"justify" style=3D"line-height:1.7;font-fa=
mily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text=
-align: justify; line-height: 17pt;"><span style=3D"font-size: 12pt; font-f=
amily: Arial, Helvetica; background-color: transparent;"><span><span><span>=
<span><br></span></span></span></span></span></p><p align=3D"justify" style=
=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000=
;padding:0px;margin: 0;text-align: justify; line-height: 17pt;"><span style=
=3D"font-size: 12pt; font-family: Arial, Helvetica; background-color: trans=
parent;"><span><span><span><span><span>One US East Coast scrap insider begg=
ed to differ on reports of a continued prime scrap supply overhang in his l=
ocal scrap region.</span><br></span></span></span></span></span></p><p alig=
n=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:=
12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-height:=
 17pt;"><span style=3D"font-size: 12pt; font-family: Arial, Helvetica; back=
ground-color: transparent;"><span><span><span><span><span><br></span></span=
></span></span></span></span></p><p align=3D"justify" style=3D"line-height:=
1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;mar=
gin: 0;text-align: justify; line-height: 17pt;"><span style=3D"font-size: 1=
2pt; font-family: Arial, Helvetica; background-color: transparent;"><span><=
span><span><span><span><span>&ldquo;I would agree that September scrap coul=
d settle soft-sideways next month on low demand,&rdquo; he said. &ldquo;But=
, I personally haven&rsquo;t seen a lot of supply overhang for busheling.&r=
dquo;</span><br></span></span></span></span></span></span></p><p align=3D"j=
ustify" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; =
color:#000000;padding:0px;margin: 0;text-align: justify; line-height: 17pt;=
"><span style=3D"font-size: 12pt; font-family: Arial, Helvetica; background=
-color: transparent;"><span><span><span><span><span><span><br></span></span=
></span></span></span></span></span></p><p align=3D"justify" style=3D"line-=
height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:=
0px;margin: 0;text-align: justify; line-height: 17pt;"><span style=3D"font-=
size: 12pt; font-family: Arial, Helvetica; background-color: transparent;">=
<span><span><span><span><span><span><span>Insiders told SteelOrbis in earli=
er reports that US mills didn&rsquo;t buy the prime scrap that local scrap =
suppliers had expected them to purchase during the August buy-cycle because=
 threatened 50 percent tariffs on Brazilian pig iron by US President Trump =
failed to occur. An insider remarked &ldquo;I think mill closures across Se=
ptember, October and November will create significant downward pressure on =
pricing during the September and October buys,&rdquo; he said last week. &l=
dquo;Especially with the expectation of a continued bearish export market a=
nd the softness in hot-rolled coil pricing.&rdquo;</span><br></span></span>=
</span></span></span></span></span></p><p align=3D"justify" style=3D"line-h=
eight:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0=
px;margin: 0;text-align: justify; line-height: 17pt;"><span style=3D"font-s=
ize: 12pt; font-family: Arial, Helvetica; background-color: transparent;"><=
span><span><span><span><span><span><span><br></span></span></span></span></=
span></span></span></span></p><p align=3D"justify" style=3D"line-height:1.7=
;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin=
: 0;text-align: justify; line-height: 17pt;"><span style=3D"font-size: 12pt=
; font-family: Arial, Helvetica; background-color: transparent;"><span><spa=
n><span><span><span><span><span><span>This week, US Midwest flat steel pric=
ing continued lower amid reports of trades done at $5/nt less on average $8=
20/nt ($904/mt), or $41.00/cwt., off from an average $820-$830/nt ($904-915=
/mt), or on average $41.25/cwt., seven days earlier. Flat steel insiders sa=
id HRC pricing could be nearing a bottom at about&nbsp;<span>$800/nt ($882/=
mt) or $40/cwt., as reports emerge of improved domestic demand seen by mill=
s.</span></span><br></span></span></span></span></span></span></span></span=
></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdan=
a;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; =
line-height: 17pt;"><span style=3D"font-size: 12pt; font-family: Arial, Hel=
vetica; background-color: transparent;"><span><span><span><span><span><span=
><span><span><span><br></span></span></span></span></span></span></span></s=
pan></span></span></p><p align=3D"justify" style=3D"line-height:1.7;font-fa=
mily:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text=
-align: justify; line-height: 17pt;"><span style=3D"font-size: 12pt; font-f=
amily: Arial, Helvetica; background-color: transparent;"><span><span><span>=
<span><span><span><span><span><span><span>&ldquo;We see positive things reg=
arding demand,&rdquo; said Nucor Corporation Executive Vice President of Sh=
eet Products, Noah Hanners, at this week&rsquo;s SMU Steel Summit conferenc=
e in Atlanta, Georgia, when asked about this week&rsquo;s Consumer Spot Pri=
ce (CSP) increase for hot-rolled coils, the first reported by the key US mi=
ll in three weeks to $875/nt ($965/mt) or $43.75/cwt. &ldquo;This week&rsqu=
o;s price increase has nothing to do with tariffs at all, but rather we see=
 a developing backlog of orders coming from customers, which is supportive =
of demand.&rdquo;</span><br></span></span></span></span></span></span></spa=
n></span></span></span></p><p align=3D"justify" style=3D"line-height:1.7;fo=
nt-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0=
;text-align: justify; line-height: 17pt;"><span style=3D"font-size: 12pt; f=
ont-family: Arial, Helvetica; background-color: transparent;"><span><span><=
span><span><span><span><span><span><span><span><br></span></span></span></s=
pan></span></span></span></span></span></span></span></p><p align=3D"justif=
y" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color=
:#000000;padding:0px;margin: 0;text-align: justify; line-height: 17pt;"><sp=
an style=3D"font-size: 12pt; font-family: Arial, Helvetica; background-colo=
r: transparent;"><span><span><span><span><span><span><span><span><span><spa=
n><span>Another SteelOrbis flat steel contact remarked, &ldquo;There is a m=
ix of opinions in the marketplace right now, however, there is a general fe=
eling that demand is going up in certain sectors as people return from vaca=
tions,&rdquo; he said. &ldquo;The mills definitely have felt an increase of=
 volume on quotes, but companies are looking for lower prices and mills are=
 not closing orders,&rdquo; he added. &ldquo;Scrap values are&nbsp; staying=
 the same versus prices that are coming down, so that is reducing margins w=
ith the mills. To me it feels like HRC prices will not decline below $800/n=
t.&rdquo;</span><br></span></span></span></span></span></span></span></span=
></span></span></span></p><p align=3D"justify" style=3D"line-height:1.7;fon=
t-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;=
text-align: justify; line-height: 17pt;"><span style=3D"font-size: 12pt; fo=
nt-family: Arial, Helvetica; background-color: transparent;"><span><span><s=
pan><span><span><span><span><span><span><span><span><br></span></span></spa=
n></span></span></span></span></span></span></span></span></span></p><p ali=
gn=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-size=
:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-height=
: 17pt;"><span style=3D"font-size: 12pt; font-family: Arial, Helvetica; bac=
kground-color: transparent;"><span><span><span><span><span><span><span><spa=
n><span><span><span><span>Given this week&rsquo;s continued declines in spo=
t flat steel pricing, SteelOrbis historical data shows price levels have de=
clined consistently since the end of June as scrap demand has remained unre=
markable with sideways pricing reported for three straight months.</span><b=
r></span></span></span></span></span></span></span></span></span></span></s=
pan></span></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Ar=
ial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align:=
 justify; line-height: 17pt;"><span style=3D"font-size: 12pt; font-family: =
Arial, Helvetica; background-color: transparent;"><span><span><span><span><=
span><span><span><span><span><span><span><span><br></span></span></span></s=
pan></span></span></span></span></span></span></span></span></span></p><p a=
lign=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;font-si=
ze:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-heig=
ht: 17pt;"><span style=3D"font-size: 12pt; font-family: Arial, Helvetica; b=
ackground-color: transparent;"><span><span><span><span><span><span><span><s=
pan><span><span><span><span><span>Based on a sideways to down from August, =
September settlement, US Midwest prime busheling scrap in the Ohio Valley c=
ould settle at or below $435-460/gt ($443-468/mt), while shredded scrap mig=
ht settle at or below $375-380/gt ($381-387/mt). Ohio Valley P&S and HMS gr=
ades are seen at or below $361-371/gt ($367-377/mt) and $325-345/gt ($330-3=
87/mt), respectively, scrap insiders told SteelOrbis.</span><br></span></sp=
an></span></span></span></span></span></span></span></span></span></span></=
span></p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,ve=
rdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justi=
fy; line-height: 17pt;"><span style=3D"font-size: 12pt; font-family: Arial,=
 Helvetica; background-color: transparent;"><span><span><span><span><span><=
span><span><span><span><span><span><span><span><br></span></span></span></s=
pan></span></span></span></span></span></span></span></span></span></span><=
/p><p align=3D"justify" style=3D"line-height:1.7;font-family:Arial,verdana;=
font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; li=
ne-height: 17pt;"><span style=3D"font-size: 12pt; font-family: Arial, Helve=
tica; background-color: transparent;"><span><span><span><span><span><span><=
span><span><span><span><span><span><span><span>In the US Northeast, a sidew=
ays to potentially lower September scrap settle would put prime busheling g=
rade material at or below $380-400/gt ($387-407/mt), while shredded grades =
could settle at or below $325-335/gt ($330-342/mt). P&S and HMS grades migh=
t finish at or below $295-305/gt ($300-310/mt) and 305-320/gt ($310-325/mt)=
, respectively, scrap insiders told SteelOrbis this week.</span><br></span>=
</span></span></span></span></span></span></span></span></span></span></spa=
n></span></span></p></font></font><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><p align=3D"justify" styl=
e=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#00000=
0;padding:0px;margin: 0;text-align: justify;"></p></font><p align=3D"justif=
y" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color=
:#000000;padding:0px;margin: 0;text-align: justify;"></p>





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</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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:none;padding:0px;border:0px;margin:0px auto;border-collapse:separate; mso-=
table-lspace:0pt; mso-table-rspace:0pt;">
                <tbody><tr>
                   <td align=3D"center" class=3D"txtsize" style=3D"border-c=
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;">
                         <!--[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:office" href=3D"https://qp=
rdy-zgpvh.maillist-manage.net/click/1c08f772a427afe0/1c08f772a427a9aa" styl=
e=3D"border-radius:4px;height:39.875px;v-text-anchor:middle;width:202.896px=
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=09=09=09=09=09            <center style=3D"direction:ltr;color:#ffffff;fon=
t-family:Arial;font-size:11pt;">FAQs</center>
=09=09=09=09=09          </v:roundrect>
        =09=09=09=09<![endif]-->
                        <a align=3D"center" href=3D"https://qprdy-zgpvh.mai=
llist-manage.net/click/1c08f772a427afe0/1c08f772a427a9aa" style=3D"padding:=
0px 0px;background-color:#2fbbb0;width:202.896px;height:39.875px;font-size:=
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=09=09=09=09=09=09=09<font style=3D"color:#ffffff;display:table-cell;vertic=
al-align:middle;">
                     =09=09   FAQs
=09=09=09=09=09=09=09</font>
                        </a>
                    </td>
                </tr>
                </tbody></table>
            </div>
=09</div>
=09</td></tr></tbody></table>
</td></tr>
<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-=
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_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"=
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;border-collapse:collapse; ms=
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ize: 0px; width: 100%; margin: auto;" width=3D"100%"> <tbody><tr><td align=
=3D"center" border-size=3D"1px" height=3D"0" 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;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>
=09=09=09</td></tr></tbody></table>
=09=09=09</div>
</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=
=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=
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>websupport@staalx.com</u></f=
ont></b> or <b style>+1 (708) 697-3227</b></font></p><p align=3D"center" st=
yle=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000=
000;padding:0px;margin: 0;text-align: center; line-height: 17pt;"><font sty=
le=3D"font-size: 10pt; line-height: 17pt;"><b><br></b></font></p><p align=
=3D"center" style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12=
px; color:#000000;padding:0px;margin: 0;text-align: center; line-height: 17=
pt;"><span style=3D"font-size: 10pt; color: rgb(68, 67, 67); font-family: A=
rial, Helvetica;">Follow StaalX on</span><br></p></div>
=09=09=09</td></tr>
=09=09</tbody></table>
       =09  </div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1614756693700" 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                <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=
=3D"0" class=3D"zpAlignPos" style=3D" mso-table-lspace:0pt; mso-table-rspac=
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=09=09=09=09=09=09=09<tbody><tr><td style=3D"border-collapse:collapse; mso-=
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:0pt;padding:7px 15px;border:0px;font-size:5px;border-top:0px none ;border-=
bottom:0px none ;padding-top:5px;padding-bottom:5px;padding-right:50px;padd=
ing-left:50px;">
=09=09=09=09=09=09=09=09<table align=3D"center" border=3D"0" cellpadding=3D=
"0" cellspacing=3D"0" componentpaddingbottom=3D"5px" componentpaddingleft=
=3D"50px" componentpaddingright=3D"50px" componentpaddingtop=3D"5px" style=
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=3D"100%"><tbody><tr><td align=3D"center" style=3D"border-collapse:collapse=
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arate;border: none;"><tbody><tr><td align=3D"left" style=3D"border-collapse=
:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetic=
a, sans-serif; mso-table-rspace:0pt;font-size:12px;padding:7px;padding-top:=
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llspacing=3D"0" style=3D" mso-table-lspace:0pt; mso-table-rspace:0pt;font-s=
ize:12px;border-collapse: collapse;border: none;" width><tbody><tr><td alig=
n=3D"center" name=3D"sclwdgtimges" style=3D"border-collapse:collapse; mso-t=
able-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; m=
so-table-rspace:0pt;font-size:12px;border: none;padding: 0px;margin: 0px;pa=
dding-bottom: 6px;" valign=3D"middle"> <a href=3D"https://qprdy-zgpvh.maill=
ist-manage.net/click/1c08f772a427afe0/1c08f772a427a9ac" style=3D"text-decor=
ation:underline;display: block;font-size: 1px;" target=3D"_blank" zcurl_nam=
e=3D"l_14"><img alt=3D"LinkedIn" height=3D"35" src=3D"https://stratus.campa=
ign-image.com/images/867215000021203004_1_1715205012151_zcsclwgtlin1.png" s=
tyle=3D"border: 0px; margin: 0px; outline: none; text-decoration: none; wid=
th: 40px; height: 40px;" vspace=3D"10" width=3D"35"></a> </td></tr><tr><td =
align=3D"center" name=3D"sclwdgtcaptns" style=3D"border-collapse:collapse; =
mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-ser=
if; mso-table-rspace:0pt;font-size:12px;border:none;padding: 0px;margin: 0p=
x;" valign=3D"middle"><a href=3D"https://qprdy-zgpvh.maillist-manage.net/cl=
ick/1c08f772a427afe0/1c08f772a427a9ae" style=3D"display: block;font-size: 1=
px;font-weight: normal;line-height: normal;text-align: center;text-decorati=
on: none;" target=3D"_blank" zcurl_name=3D"l_15"><p fntname=3D"Arial" fntsz=
e=3D"10" style=3D"font-family:Arial,verdana;font-size:12px; color:#000000;p=
adding:0px;margin: 0;line-height: normal; font-family: Arial, Helvetica, sa=
ns-serif; color: rgb(27, 107, 189); font-size: 10pt;">LinkedIn</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;font-family:Arial, Helvetica, sans-serif; mso-table-rsp=
ace: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" styl=
e=3D" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;border-coll=
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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;padding-right: 9px;padding-bot=
tom: 9px;border:none;padding: 0px;margin: 0px;" valign=3D"top"> <table bord=
er=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D" mso-table-lspace:0pt=
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e;"><tbody><tr><td align=3D"left" style=3D"border-collapse:collapse; mso-ta=
ble-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; ms=
o-table-rspace:0pt;font-size:12px;padding:7px;padding-top: 0px;padding-righ=
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"> <table align=3D"left" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" s=
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=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-zgpvh.maillist-manage.net/cl=
ick/1c08f772a427afe0/1c08f772a427a9b0" style=3D"text-decoration:underline;d=
isplay: block;font-size: 1px;" target=3D"_blank" zcurl_name=3D"l_16"><img a=
lt=3D"Facebook" height=3D"35" src=3D"https://stratus.campaign-image.com/ima=
ges/867215000021203004_2_1715205012306_zcsclwgtfb1.png" style=3D"border: 0p=
x; margin: 0px; outline: none; text-decoration: none; width: 40px; height: =
40px;" vspace=3D"10" width=3D"35"></a> </td></tr><tr><td align=3D"center" n=
ame=3D"sclwdgtcaptns" style=3D"border-collapse:collapse; mso-table-lspace:0=
pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspa=
ce:0pt;font-size:12px;border:none;padding: 0px;margin: 0px;" valign=3D"midd=
le"><a href=3D"https://qprdy-zgpvh.maillist-manage.net/click/1c08f772a427af=
e0/1c08f772a427a9b2" style=3D"display: block;font-size: 1px;font-weight: no=
rmal;line-height: normal;text-align: center;text-decoration: none;" target=
=3D"_blank" zcurl_name=3D"l_17"><p fntname=3D"Arial" fntsze=3D"10" style=3D=
"font-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></t=
able></td></tr></tbody></table></td></tr></tbody></table></td><td align=3D"=
left" style=3D"border-collapse:collapse; mso-table-lspace:0pt; font-size:12=
px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size=
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d align=3D"left" style=3D"border-collapse:collapse; mso-table-lspace:0pt; f=
ont-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0p=
t;font-size:12px;padding:7px;padding-top: 0px;padding-right: 9px;padding-bo=
ttom: 0px;padding-left: 9px;border:none;" valign=3D"middle"> <table align=
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se;border: none;" width><tbody><tr><td align=3D"center" name=3D"sclwdgtimge=
s" style=3D"border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;=
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px;border: none;padding: 0px;margin: 0px;padding-bottom: 6px;" valign=3D"mi=
ddle"> <a href=3D"https://qprdy-zgpvh.maillist-manage.net/click/1c08f772a42=
7afe0/1c08f772a427a9b4" style=3D"text-decoration:underline;display: block;f=
ont-size: 1px;" target=3D"_blank" zcurl_name=3D"l_18"><img alt=3D"Instagram=
" height=3D"35" src=3D"https://stratus.campaign-image.com/images/8672150000=
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eight: normal;text-align: center;text-decoration: none;" target=3D"_blank" =
zcurl_name=3D"l_19"><p fntname=3D"Arial" fntsze=3D"10" style=3D"font-family=
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t;font-size:12px;padding-right: 9px;padding-bottom: 9px;border:none;padding=
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adding-left: 9px;border:none;" valign=3D"middle"> <table align=3D"left" bor=
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ne;" width><tbody><tr><td align=3D"center" name=3D"sclwdgtimges" style=3D"b=
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;" target=3D"_blank" zcurl_name=3D"l_20"><img alt=3D"X" height=3D"35" src=
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splay: block;font-size: 1px;font-weight: normal;line-height: normal;text-al=
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