netrashetty
Netra Shetty
Limited Brands (formerly known as The Limited, Inc.) is an American apparel company based in Columbus, Ohio. In 2009 it reported 9.04 billion dollars in revenue for the last fiscal year[1].
Market Structure
The value of U.S. mine production of metals (SIC 10) declined significantly in 1998 in current and constant (1992) dollars, dropping 19.1 percent and 13.3 percent, respectively, owing to falling metal prices. Over the period 1992–1998, metal mine production value in real terms declined 2.3 percent annually on average, with the value of production peaking at $11.7 billion in 1995. Growth in constant dollars also trended downward slightly over that period and trended upward slightly in current dollars. The growth in the value of total output in constant dollars for iron and other ferrous ores, copper ore, and miscellaneous nonferrous ores rose slightly over the 3-year period 1996–1998 and is projected by Standard & Poor’s DRI to be about 2 percent per year between 1998 and 2004. The recent slow growth in metal mine production value does not reflect the relatively high demand for most metal commodities over that period. Oversupply has kept prices down for many metals even as high demand in the United States has kept production rates relatively high in recent years, except for 1998.
Some important metals in which the United States is nearly self-sufficient or produces the majority of its supply are, in order of increasing self-sufficiency, zinc, lead, iron ore, and copper. The United States is a net exporter of molybdenum and gold. The relative positions of these commodities with respect to net import reliance were nearly unchanged in 1998 compared with 1997, except that iron ore and copper exchanged places. Although completely dependent on imports of bauxite and alumina, the United States is the world’s largest exporter of aluminum metal.
Total employment in metal mining was about 50,000 in 1998, down more than 7 percent from 1997. Over the longer term (1992–1998), employment declined at a rate of 1 percent per year on average. With the value of mine production in real terms generally declining at a slightly higher rate than did total employment, value of output per employee also declined slightly over that period.
With respect to the value of mine production in 1998, gold was highest among metals at $4.0 billion, followed by copper at $3.3 billion, iron ore at $1.9 billion, zinc at $840 million, molybdenum at $454 million, and lead at $440 million. The value of iron and steel and ferrous foundry industry production was $73 billion, and the value of primary aluminum produced at U.S. smelters was $5.3 billion. Economic conditions in 1998 and 1999 were generally good, particularly in transportation, housing, and construction, resulting in a relatively high demand for metals. Favorable economic indicators point to a moderation of this trend through 2004 in several indexes that are important to metals consumption. For example, as projected by the U.S. Department of Commerce, Bureau of the Census, total housing starts will decline slightly between 1999 and 2003. Total multiunit structures are expected to remain about the same, but total single-unit structures are projected to decrease approximately 10 percent. Light vehicle construction is expected to fall slightly from 15.7 million units in 1999 to 15.3 million units in 2000 but rise to 15.7 million units by 2003.
Recycling remained a strong component of metals supply in the United States in 1998 and 1999. The commodities with the highest recycling rates (defined as metal recovered from old and new scrap as a percentage of apparent supply) were lead (66 percent), steel (59 percent), titanium (50 percent), aluminum (39 percent), copper (37 percent), nickel (29 percent), tungsten (28 percent), cobalt (23 percent), chromium (21 percent), and tin (21 percent). In steel, scrap-based electric arc furnaces have captured a major portion of steelmaking capacity: 45 percent in 1998. The impact of the Asian financial crisis on U.S. metals markets could be felt most in iron and steel scrap. U.S. exports to that region declined significantly in 1998. Consequently, prices for carbon steel scrap also experienced a substantial drop. Stainless steel scrap prices experienced a similar price decline. With signs of recovery in Asia in 1999, the scrap markets are expected to rebound in 2000 with a sustained high level of economic activity in the United States.
Market Metrics
Aluminum and Nonferrous Metals
The nonferrous metals include more than four dozen metals that are mined in quantities that range from a few kilograms per year to several million tons per year and that have diverse uses. The more economically important of these metals are the base metals (aluminum, copper, lead, tin, and zinc) and the precious metals (gold, silver, and the six platinum-group metals). The base metals are important because they are produced and used in large quantities, and the precious metals because they have high unit values. The United States produces large amounts of most of these economically important nonferrous metals and uses large quantities of all of them. In terms of the dollar value of production or consumption, all these important metals rank among the top two dozen of the 90 or so mineral commodities used in the domestic economy (see Figure 1-6 for domestically refined values of some of these metals). Standard & Poor’s DRI projects real annual growth of 3.2 percent between 1998 and 2004.
The United States is the world’s largest producer and user of aluminum. It imports substantial quantities of aluminum metal and is completely dependent on foreign sources for the aluminum ore—bauxite—it needs. It also imports large quantities of the intermediate product alumina, of which more than 90 percent is smelted to the metal; the balance of this alumina and some domestically produced alumina are used in refractories (a nonmetallic material suitable for use in high-temperature applications), abrasives, and several other applications. Domestic primary aluminum production grew from 3.3 Mt in 1994, at the peak of imports of metal from the countries of the former Soviet Union, to 3.7 Mt in 1998. Secondary production from old scrap at 1.5 Mt accounted for 21 percent of domestic aluminum production in 1998. U.S. apparent consumption of aluminum was about 7.1 Mt in 1998.
Aluminum Domestic Production and Use
The domestic supply of aluminum includes three major components: primary ingot production, secondary (scrap) recovery, and trade. In 1998, 3.7 Mt of primary aluminum metal was produced by 13 companies operating 23 primary aluminum smelters. Montana, Oregon, and Washington accounted for 39 percent of the production; Mary- land, New York, Ohio, and West Virginia for 22 percent; and other states for 39 percent. On the basis of published market prices, the value of primary metal production was $5.4 billion. The secondary metal sector, which includes both postconsumer scrap and prompt industrial scrap, has maintained steady growth in its share of the domestic supply and now accounts for more than 38 percent of the domestic aluminum supply.
Imports for consumption increased significantly in 1998 compared with 1997. Canada is the dominant trading partner for aluminum imports and exports, accounting for about 60 percent of U.S. imports of ingot and approximately 55 percent of both imported mill products and scrap. Russia remained the second largest supplier of aluminum materials. Imports of crude metal and alloys from Russia increased dramatically (43 percent) in 1998, returning to a level that had not been seen since 1994. Canada received about 45 percent of U.S. ingot exports in 1998, and Mexico accounted for an additional 30 percent of the U.S. primary ingot shipments.
The transportation sector continued to be the dominant market for aluminum in the United States, surpassing the packaging industry, which dominated the market before 1995. Transportation uses for aluminum accounted for more than 35 percent of domestic consumption, with packaging accounting for about another 25 percent. Building and construction, electrical, consumer durables, machinery and equipment, and other uses accounted for the remainder.
Market Structure
The value of U.S. mine production of metals (SIC 10) declined significantly in 1998 in current and constant (1992) dollars, dropping 19.1 percent and 13.3 percent, respectively, owing to falling metal prices. Over the period 1992–1998, metal mine production value in real terms declined 2.3 percent annually on average, with the value of production peaking at $11.7 billion in 1995. Growth in constant dollars also trended downward slightly over that period and trended upward slightly in current dollars. The growth in the value of total output in constant dollars for iron and other ferrous ores, copper ore, and miscellaneous nonferrous ores rose slightly over the 3-year period 1996–1998 and is projected by Standard & Poor’s DRI to be about 2 percent per year between 1998 and 2004. The recent slow growth in metal mine production value does not reflect the relatively high demand for most metal commodities over that period. Oversupply has kept prices down for many metals even as high demand in the United States has kept production rates relatively high in recent years, except for 1998.
Some important metals in which the United States is nearly self-sufficient or produces the majority of its supply are, in order of increasing self-sufficiency, zinc, lead, iron ore, and copper. The United States is a net exporter of molybdenum and gold. The relative positions of these commodities with respect to net import reliance were nearly unchanged in 1998 compared with 1997, except that iron ore and copper exchanged places. Although completely dependent on imports of bauxite and alumina, the United States is the world’s largest exporter of aluminum metal.
Total employment in metal mining was about 50,000 in 1998, down more than 7 percent from 1997. Over the longer term (1992–1998), employment declined at a rate of 1 percent per year on average. With the value of mine production in real terms generally declining at a slightly higher rate than did total employment, value of output per employee also declined slightly over that period.
With respect to the value of mine production in 1998, gold was highest among metals at $4.0 billion, followed by copper at $3.3 billion, iron ore at $1.9 billion, zinc at $840 million, molybdenum at $454 million, and lead at $440 million. The value of iron and steel and ferrous foundry industry production was $73 billion, and the value of primary aluminum produced at U.S. smelters was $5.3 billion. Economic conditions in 1998 and 1999 were generally good, particularly in transportation, housing, and construction, resulting in a relatively high demand for metals. Favorable economic indicators point to a moderation of this trend through 2004 in several indexes that are important to metals consumption. For example, as projected by the U.S. Department of Commerce, Bureau of the Census, total housing starts will decline slightly between 1999 and 2003. Total multiunit structures are expected to remain about the same, but total single-unit structures are projected to decrease approximately 10 percent. Light vehicle construction is expected to fall slightly from 15.7 million units in 1999 to 15.3 million units in 2000 but rise to 15.7 million units by 2003.
Recycling remained a strong component of metals supply in the United States in 1998 and 1999. The commodities with the highest recycling rates (defined as metal recovered from old and new scrap as a percentage of apparent supply) were lead (66 percent), steel (59 percent), titanium (50 percent), aluminum (39 percent), copper (37 percent), nickel (29 percent), tungsten (28 percent), cobalt (23 percent), chromium (21 percent), and tin (21 percent). In steel, scrap-based electric arc furnaces have captured a major portion of steelmaking capacity: 45 percent in 1998. The impact of the Asian financial crisis on U.S. metals markets could be felt most in iron and steel scrap. U.S. exports to that region declined significantly in 1998. Consequently, prices for carbon steel scrap also experienced a substantial drop. Stainless steel scrap prices experienced a similar price decline. With signs of recovery in Asia in 1999, the scrap markets are expected to rebound in 2000 with a sustained high level of economic activity in the United States.
Market Metrics
Aluminum and Nonferrous Metals
The nonferrous metals include more than four dozen metals that are mined in quantities that range from a few kilograms per year to several million tons per year and that have diverse uses. The more economically important of these metals are the base metals (aluminum, copper, lead, tin, and zinc) and the precious metals (gold, silver, and the six platinum-group metals). The base metals are important because they are produced and used in large quantities, and the precious metals because they have high unit values. The United States produces large amounts of most of these economically important nonferrous metals and uses large quantities of all of them. In terms of the dollar value of production or consumption, all these important metals rank among the top two dozen of the 90 or so mineral commodities used in the domestic economy (see Figure 1-6 for domestically refined values of some of these metals). Standard & Poor’s DRI projects real annual growth of 3.2 percent between 1998 and 2004.
The United States is the world’s largest producer and user of aluminum. It imports substantial quantities of aluminum metal and is completely dependent on foreign sources for the aluminum ore—bauxite—it needs. It also imports large quantities of the intermediate product alumina, of which more than 90 percent is smelted to the metal; the balance of this alumina and some domestically produced alumina are used in refractories (a nonmetallic material suitable for use in high-temperature applications), abrasives, and several other applications. Domestic primary aluminum production grew from 3.3 Mt in 1994, at the peak of imports of metal from the countries of the former Soviet Union, to 3.7 Mt in 1998. Secondary production from old scrap at 1.5 Mt accounted for 21 percent of domestic aluminum production in 1998. U.S. apparent consumption of aluminum was about 7.1 Mt in 1998.
Aluminum Domestic Production and Use
The domestic supply of aluminum includes three major components: primary ingot production, secondary (scrap) recovery, and trade. In 1998, 3.7 Mt of primary aluminum metal was produced by 13 companies operating 23 primary aluminum smelters. Montana, Oregon, and Washington accounted for 39 percent of the production; Mary- land, New York, Ohio, and West Virginia for 22 percent; and other states for 39 percent. On the basis of published market prices, the value of primary metal production was $5.4 billion. The secondary metal sector, which includes both postconsumer scrap and prompt industrial scrap, has maintained steady growth in its share of the domestic supply and now accounts for more than 38 percent of the domestic aluminum supply.
Imports for consumption increased significantly in 1998 compared with 1997. Canada is the dominant trading partner for aluminum imports and exports, accounting for about 60 percent of U.S. imports of ingot and approximately 55 percent of both imported mill products and scrap. Russia remained the second largest supplier of aluminum materials. Imports of crude metal and alloys from Russia increased dramatically (43 percent) in 1998, returning to a level that had not been seen since 1994. Canada received about 45 percent of U.S. ingot exports in 1998, and Mexico accounted for an additional 30 percent of the U.S. primary ingot shipments.
The transportation sector continued to be the dominant market for aluminum in the United States, surpassing the packaging industry, which dominated the market before 1995. Transportation uses for aluminum accounted for more than 35 percent of domestic consumption, with packaging accounting for about another 25 percent. Building and construction, electrical, consumer durables, machinery and equipment, and other uses accounted for the remainder.
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