YOUR DEVELOPMENT ADVANTAGE

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1 Vol. 2 Issue 21 YOUR DEVELOPMENT ADVANTAGE OUR PEOPLE, YOUR ADVANTAGE

2 It is THE PACESETTER WAY to Commit to Personal Development: Challenge yourself to be better. Never be satisfied with the status quo. Ask for feedback regularly and welcome it. Treat mistakes as learning opportunities. Assume your knowledge and skills will not always be sufficient for tomorrow s challenges. Demonstrate a commitment to lifelong learning. Our People are Your Advantage because they Commit to Personal Development. We know that the more we learn from others, internal and external, the better an organization we will be. So, we will be integrating Your Development Advantage regularly, and sharing some non Pacesetter authored articles selected by our associates because they have found them valuable in their own growth. YOUR DEVELOPMENT ADVANTAGE Featured Contributor Ivan Misner, Founder and Chief Visionary Officer of BNI Source: 30 Within 30 days, reach out to them to set up a face-to-face meeting. If you live near each other, meet in person. If you are far away from one another, set up a meeting via Skype or by phone. At this meeting, find out more about what they do, and look for ways to help them in some way. Don t make it a sales call; make it a relationship-building opportunity. The Simple Formula for Following Up I often see people make the mistake of meeting many individuals at networking events and then not having a system in place to follow up with the new contacts afterward. Here s a simple follow-up formula I recommend. It s called the 24/7/30 System. 24 When you meet someone at a networking event, drop them a note within the first 24 hours. It can be a personal handwritten note or an . Use whatever approach you will do consistently. Let them know that it was a pleasure meeting them and you hope your paths cross again. 7 Within 7 days, connect with them on social media. Make a connection via LinkedIn or Facebook. Follow them on Twitter or join them on Google+. Find ways to connect and engage with them via the social -media platforms you use the most. Do not do this as a way to sell to them. Do it as a way to start establishing a meaningful connection with them. If you use the 24/7/30 System to follow up with people you meet, you will establish a powerful routine that will help you to make your networking efforts meaningful and successful. Use technology to help remind you to follow up at the appropriate intervals. After you send the first note or , set up reminders on your phone or calendar to follow up at one week and one month out. As the late, great motivational speaker and author Jim Rohn, used to say, The fortune is in the follow-up. View the Original Article Here:

3 STEEL #1 heavy melt scrap is steady at $246 per ton and #1 busheling scrap is holding at $274 per ton. + Zinc prices are trending down. - Raw steel production is at a 16 month high of 75.1% of capacity. + Domestic mill lead times for galvanized steel sheet have pulled back to under 9 weeks on average. - Iron ore FOB Chinese ports is steady at $55 per dry metric ton. China s iron ore stockpiles are at a near record high of million tons. The 5 year average is 94 million tons. Maybe this will be enough to cool off global iron ore prices soon. USD / lb Day Zinc Spot Source: Mar 01 Apr 07 Apr 13 Apr 19 Apr 25 Apr 29 Apr 05 May 11 May 17 May 23 May STEEL - PAGE 3

4 Thousands of Metric Tons STEEL Galvanized steel imports for May might surpass April by the time we see the final tally. U.S. Imports of Sheets & Strip Galv Hot Dipped C & A From World The U.S. International Trade Commissioners have voted to investigate imports of cut to length steel plate from Austria, Belgium, Brazil, China, France, Germany, Italy, Japan, South Africa, South Korea, Taiwan, and Turkey. There will be duty determinations by July 5 and anti-dumping findings by September Average May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Sep Oct Dec Jan Source: US Department of Commerce, Enforement and Compliance Graph last modified on: May 24, 2016 with Licensing Data colleleted through May 24, Commerece license data use for the last month appears in a different color Data extracted from the import licenses are not official Census data Jun Jul Aug Nov Mar Apr Feb May STEEL - PAGE 4

5 STEEL The U.S. Commerce Department hit China with over 200% dumping duties for galvanized steel this week and added another 240% in countervailing duties. I guess there won t be much Chinese coming to the US for a while. India was hit with around 4% dumping and as much as 29% countervailing duties. Italy was hit with as much as 92% dumping and as much as 38% countervailing duties. South Korea was hit with around 47% dumping and around 1% countervailing duties. This will change the supply chains for many end users in the US. While these supply chains get reinvented, our domestic mills will enjoy the opportunity to extend the current, strong market further. + California Steel announced their own $150 per ton price increase for cold rolled and galvanized products. Hot roll will be up $130 per ton. + The following is the profit performance of selected domestic mills. Occasionally, you will see profit referred to as EBITDA, which means Earnings Before Interest, Taxes, Depreciation, and Amortization. Note that spot steel pricing in 2015 fell in Q1 then remained fairly steady in Q2 and Q3, and then fell again in Q4. It is interesting to see how the various mills performed as the market fell. In Q1 of 2016, the spot price of steel climbed. Note which mills handled the market price escalation better than others. Every mill has its own characteristics. Some cater to the auto industry. Some like spot business more than others. Some have more overhead cost than others. EBIDA of Selected Mills or (Loss) - Steel imports and exports through the port of Houston fell 67% in April compared to the previous year. That s 1.75 million fewer tons. STEEL - PAGE 5

6 AUTOMOTIVE Toyota is investing an undisclosed sum of money in Uber, the largest ride sharing service in the US, and crafting new leasing options for Uber drivers. The money is coming from Toyota Financial Services Corp. In January, General Motors invested $500 million in Lyft, the 2nd largest ride share service in the US. Lyft drivers can lease GM vehicles for $99 per week for up to 8 weeks. No word on how the vehicles get maintained. Volkswagen plans to invest $300 million into the ride share service known at Gett. For many years, the auto makers groused about having fleet sales so I m interested in why they want to lease cars into a consumer group who will have virtually no personal motivation to maintain the car or keep it for any length of time. + Google is going to open a self-driving car development center in Novi, Michigan. The 53,000 sq. ft. facility is in the heart of a traditional domestic automobile industrial region. Apparently, their first project will be to make 100 self-driving Chrysler Pacifica Minivans. AUTOMOTIVE - PAGE 6

7 GENERAL Durable Goods Orders jumped 3.4% in April, led by automobile and commercial aircraft production. + New Home Sales surged 16.6% in April, logging sales at an annualized rate of 619,000 units. This is the highest rate since January 2008 and the biggest monthly gain since January Prices jumped to $312,100 and the inventory of unsold new homes fell to 4.7 months worth. - Gasoline prices are rising as the oil companies anticipate Memorial Day vacation driving. Crude oil inventory is still high and demand for gasoline is strong. Refineries operated at 89.7% of capacity. Oil futures are up to $50 per barrel. GENERAL - PAGE 7

8 BILL S ROUND-UP Durable goods production and sales of newly built homes shows strong performance in April. Gasoline prices continue to climb as oil futures hit $50 per barrel. Raw materials for steel making continue to rise and mill output remains stronger than expected. Galvanized imports to the US were gaining a little speed, but that may change due to recent rulings from Washington imposing extra duties (taxes) on imports from some of the most active countries shipping to our market. California Steel kept the ball rolling domestically with a $150 per ton price increase. Domestic mill profits are looking better. Many large car makers are investing in ride sharing services and hope to sell a few cars into that industry as well. Google is going to manufacture self-driving minivans soon, fueling more market place change. PARTING SHOT: My country has been very good to me. I must be good to my country. - Walter Annenberg (1908 to 2002) Bill Feier, World Sourcing Manager

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