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.....
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.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here