Goncalves shrugs off overcapacity worries
Oct 21, 2011 | 04:26 PM
| Corinna Petry
CHICAGO Metals USA Holding Corp.s top executive continues to shrug off overcapacity concerns in the domestic flat-rolled steel market, maintaining that steelmakers will have to come up with a different explanation for their shareholders as to why prices look poised to dip below costs.
"Lets talk about the so-called overcapacity question. Im going to destroy it right now," Lourenco Goncalves, Metals USAs chairman, president and chief executive officer, said Friday during the companys quarterly earnings conference call.
Although a number of domestic mills are ramping up sheet production, demand also is on the rise, he said, keeping the market in relative balanceand making the mills capacity alarm bells unwarranted.....
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.