US steelmakers see tsunami having little economic impact

Dec 30, 2004 | 07:26 AM | Jim Leonard

While most U.S. analysts and producers agree that the earthquake and tsunami in the Indian Ocean that devastated coastal areas of southern Asia and East Africa would have little economic impact on domestic steelmakers, some see the potential for gains once the full extent of the damage is assessed.

Charles A. Bradford, analyst at Bradford Research Inc., New York, said the catastrophe will have "zero" impact on U.S. producers.

"I don't see much impact on U.S. steel companies at all. It's too far away. There may be some Chinese exports of rebar for rebuilding, but from what I've seen you don't see a lot of steel over there. I think China may have some surpluses for a while due to the winter, but it's going to take weeks and months to find out what happened. A lot of these countries were untouched," he said.....

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