August 22, 2008

Gerdau Ameristeel reports Q3 operating data

Gerdau Ameristeel Corporation reported certain selected comparative financial and operating data for July to September 2007 and January to September 2007 period last week.

During July to September 2007, Gerdau Ameristeel's mill external and fabricated steel shipments were approximately 1.79 million tons up by 7% YoY. The average mill external shipment selling prices were approximately USD 659 per ton an increase of approximately USD 67 per ton or 11% YoY. Scrap raw material cost used in production increased by approximately USD 16 per ton or 8% YoY to approximately USD 219 per ton. Metal spread, the difference between mill selling prices and scrap metal cost, increased approximately USD 50 per ton YoY.

During January to September 2007, Gerdau Ameristeel's mill external and fabricated steel shipments were approximately 5.38 million tons up by 6% YoY. The average mill external shipment selling prices were approximately USD 631 per ton up by USD60 per ton or 11% YoY. Scrap raw material cost used in production increased by approximately USD 26 per ton or 13% YoY to approximately USD 223 per ton. Metal increased approximately by USD 35 per ton.

Gerdau Ameristeel is the second largest minimill steel producer in North America with annual manufacturing capacity of approximately 11.7 million tonnes of mill finished steel products. Through its vertically integrated network of 19 minimills, 19 scrap recycling facilities and 62 downstream operations, Gerdau Ameristeel serves customers throughout North America.

Gerdau Ameristeel completed the acquisition of Chaparral Steel Company on September 14th 2007 and all data includes results for Chaparral from the date of the acquisition.