Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of [David Wentworth] with Wentworth Associates.
David Wentworth - Wentworth Associates
Yes. My question is you mentioned $2,000 per metric ton in 2008 for magnesium. What is your forecast for '09? Also I did not hear the forecast for profits for '09?
Marc Siegel
You are correct. We have not forecasted for '09 yet. We expect to wait another six to eight weeks to come out with our forecast for 2009.
David Wentworth - Wentworth Associates
About magnesium price, do you have any estimate there?
Marc Siegel
Our magnesium prices for the first nine months of the year averaged about $3,400 and we are expecting a range for the next twelve months, somewhere between $3,000 and $3,500 per metric ton.
David Wentworth - Wentworth Associates
Okay. Thank you.
Marc Siegel
Thank you.
Operator
Your next question comes from the line of [Carl Doress] with LLC.
Carl Doress - LLC
Hi. What is your current price of magnesium right now? It looks like it fell off (inaudible) once they hold the other metals?
Marc Siegel
It is about 2,800 and you are right it is, I think it peaked in April at 6,000 on a very small trade, but since then it declined about half.
Carl Doress - LLC
What makes you so optimistic in the current economic environment that we have that is let's go back to 1,000 to 3500?
Marc Siegel
Well that is a great question let me give you the answer. Historically, about 70% of our sales have gone through forward contracts and that is when at the beginning of the year, when mag prices were rising so dramatically, our sale price actually lag the market.
However, going forward for this quarter we have contracts that are much higher than their current stock price. We believe that, we are confident that our average will exceed the 3,000 bottom-end number I just gave you.
Carl Doress - LLC
Okay. Since I have not seen your financials all the numbers came at. Can you just very quickly just breakout what the unit per share or aggregate work in your different divisions just for the third quarter?
Marc Siegel
I am sorry, just repeat the question?
David Stein
He wants to know what our earnings work for each division in the third quarter.
Marc Siegel
Each work in different divisions?
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