Exec predicting fewer steel traders within next 5 years

Dec 08, 2006 | 02:11 PM | Phillip Price

Between 25 and 30 percent of steel traders will disappear from the business in the next five years as the steel industry continues to consolidate, according to Wolfgang W. Schmitz, chairman of Nordic Intertrade AS.

Many steel producers no longer deal with steel traders and have their own sales offices or joint-venture trading companies, and the larger steel companies still in the market are looking to do the same, Schmitz said at the 4th Steel Success Strategies Europe Conference in Amsterdam, the Netherlands, hosted by World Steel Dynamics Inc. and AMM sister publication Metal....

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