Attached is the updated status of the steel trades/transactions that have potential LOC/cashflow impact in the next few months.  According to Kent, who had a direct conversation with Bowen late yesterday, all new steel trades/structured transactions not yet agreed to will require Bowen approval prior to being reviewed by RAC.  

In summary, the commitment status for the Kibar and EDZK trades is yet to be determined, upon reviewing the taped conversation between the traders and the counterparties.  Duferco payments for the final 100,000 ton slab purchase and the $40,000 option are up for restructuring next week with the company.

Please let me know if you have any questions/concerns.  Thanks.