ISCOR LIMITED - TRADING UPDATE
Iscor Limited
(Incorporated in the Republic of South Africa)
(Registration number 1989/002164/06)
(Share code: ISC)
(ISIN: ZAE000037453)
("Iscor")
Trading Update
Speaking to industry analysts at a meeting in Vanderbijlpark today, Iscor will
review the operating conditions for the quarter to March 2004.
Iscor will state that the CRU international steel price index average for the
March 2004 quarter has increased by 30% from the December 2003 quarter. US
domestic hot rolled coil prices rose by 46% in the same period, and US domestic
long product prices by 25%. However, with the time lag from taking export orders
to delivery, the bulk of this price increase will only be realised by Iscor
during the June 2004 quarter.
Iscor will also state that, while liquid steel production for the March 2004
quarter is expected to decline compared to the previous quarter due to the
throat armour repair on Blast Furnace C at Vanderbijlpark, steel sales are
expected to increase slightly. South African domestic steel consumption for
January and February 2004 is expected to increase by 16.7% year-on-year, driven
primarily by restocking by merchants and end users.
A continued focus on cost reduction remains a key focus for Iscor. The
previously announced restructuring program is on track.
Pretoria
29 March 2004
Sponsor to Iscor:
Deutsche Securities (SA) (Proprietary) Limited
Date: 29/03/2004 12:30:02 PM Produced by the JSE SENS Department
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