CMC
#Thank you, <UNK>.
There are lots of different incentives offered to us by the state.
That's one of the reasons why we located in Oklahoma.
Rather than getting into all of the details, I'll let them keep reporting on it.
They can work through the paperwork.
To me that's not useful good use of time for us.
On the billets.
To my knowledge, we haven't seen much in the way of billet imports here in North America but certainly it's had a huge impact on southeast Asia.
Really throughout the region, most electric arc furnace producers are relying on billets from China because they're priced so attractively.
Electric arc furnace production in southeast Asia has been severely impacted by the availability of cheap imported Chinese billets.
If you look to your numbers, you might want to look that way, Chuck, and nearby regions have been particularly impacted by billet exports from China.
At this point, Chuck, we haven't seen any offers.
I'm not aware of any of that.
It really has been more isolated.
It's hard to me to rationalize how that makes sense against our overall cost structure.
We have a lot of mouths to feed.
I think we're very competitive with the metallic price that we have.
I think we're very competitive in our conversion costs on each of our melt shops and I would suspect that it would quickly be found that there's dumping associated with that kind of activity.
And you know as well as us the overall cost structure in China is highly subsidized.
So to try to make a living off of a subsidized source, while it might have short-term benefit and impact, long term really isn't a viable strategy.
Okay.
Thanks, Chuck.
Well, thank you, I appreciate that.
Thank you all for joining us on today's conference call.
We appreciate it very much and we look forward to speaking with many of you during our investor visits in the coming days and weeks.
Thanks, all, and have a good day.
