The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Peter Steyn - Macquarie Research - Analyst
: Peter Steyn from Macquarie. Just a quick question on Slide 22, sort of your dispatch volumes in North America and the breakdown of that. Curious
around the value perspective there, I would assume that it sort of bends in the direction of nonresidential exposure when you think about it from
a value point of view. But in the context of some of the branding conversation and evaluating that downstream opportunity, in the medium to
longer term, what will your value then look like? Presumably, one would see more nonresidential, more potentially residential in that mix as a value
exposure.
Question: Peter Steyn - Macquarie Research - Analyst
: Yes. Yes. (inaudible) are pretty average (inaudible). But I really -- I'm curious how you think about that value split at the moment, so value as opposed
to volume. And then where does that go? So if we're -- I'm putting numbers in your mouth but if we're at 60% nonresidential value exposure at
the moment, does that go to 3 quarters?
Question: Peter Steyn - Macquarie Research - Analyst
: Peter Steyn from Macquarie. Sorry, Hector, just a follow-up on that U.S. scrap generation picture because it's very clear that this is a regional game.
How confident are you about the medium-term -- medium and longer-term supply of obviously prime scrap in this region in the context of the
competitiveness in this region? Do the economics -- why are you confident that the economics stack up on a longer-term basis that there's no
economic risks in this region that potentially upsets the relative scrap generation here versus the southern part of the country, as an example?
Question: Peter Steyn - Macquarie Research - Analyst
: Would it be unfair to describe this as an option? And then in the longer term DRI and HBI will probably end up filling a far bigger position than 20%
of your supply?
Question: Peter Steyn - Macquarie Research - Analyst
: One more quick one. What's the time lag between when you buy a ton of scrap and then when you sell it to North Star?
Question: Peter Steyn - Macquarie Research - Analyst
: Okay. One more. The previous presentation, you mentioned nuclear power. Have you actually -- is all your power sourced from nuclear? Or is it a
mix?
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