MELTING POT No export chasing here
Oct 19, 2007 | 03:34 AM
Export markets might be looking more enticing for some U.S. mills, but Steel Dynamics Inc. (SDI) isn't changing its strategy to target them.
The Fort Wayne, Ind.-based mini-mill steelmaker continues to take advantage of occasional spot market opportunities, Keith Busse, SDI's chairman and chief executive officer, said. But the company's inland location makes exports less attractive than for companies with easier port access, he added. "We're not on the water," he said. "Even trying to get out of Indiana to New Orleans would be a hefty bill." The weak U.S. dollar and strong world markets mean exports could see sharp increases, he said. But even mills with easy port access might find it difficult to take advantage of overseas markets, Busse said. That's especially true in Europe, where mills own many of the distribution channels, he said. "You don't just knock on the door and get accepted as a steady-Eddie supplier," he said. Busse made the comments during SDI's third-quarter earnings call Wednesday and in separate remarks to AMM.....
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