PROSPECTO DEFINITIVO DE DISTRIBUIÇÃO ... - BTG Pactual

MMX – Brazilian ProjectsAmapa – July 06,2006Global Inter-Regional Billet Trade Prices350300250US$/Tonne200150100500Source:ISSB1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005Additional specific factors can affect the actual opportunity for any planned billet supply. Such additional factors thatcan affect the market opportunity include cost competitiveness, quality and chemistry capability, and product size.Whereas raw materials such as merchant pig iron are more of a true commodity that is widely acceptable to the vastmajority of consumers, the further downstream a product occurs in the value-added chain the more restricted it is likelyto be with regard to customer requirements.That is to say that billet customers will have varying requirements with regard to such issues as product quality,chemistry, size, etc., and producer capabilities or limitations can result in some modification of the market opportunity.A more definitive assessment of the market opportunities that may exist for the merchant billet plan would be requiredonce the specific product and quality capabilities of the facility have been identified.More detail on the markets is provided in the Project Reports.350Preços Inter-Regionais de Tarugos300250US$/t2001501005001994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005426