China to drive steel demand growth: CMC
Dec 22, 2009 | 09:47 AM
China will be a catalyst for global steel demand and pricing next year, based on a projected 9- to 10-percent growth in gross domestic product (GDP) and an infrastructure stimulus program expected to last two years, according to Commercial Metals Co.'s (CMC's) top executive.
Murray R. McClean, chairman, president and chief executive officer of Irving, Texas-based CMC, which has mills in Eastern Europe and international trading operations in steel and scrap, said China's needs will most likely "exert upward pressure on both iron ore and scrap prices. The rest of Asia should follow China with anticipation of strong demand for scrap, and billet export opportunities to the region."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.