Steel coating firms branch out in tough market
May 02, 2012 | 01:12 PM
| Corinna Petry
Tags
AMM’s Galvanized and Coated Steel Conference,
Tom Marchak,
Frank Goodwin,
Jerry Richardson,
Randall Brent,
Severstal,
CSN,
PPG Industrial Coatings
International Zinc Association
DEARBORN, Mich. — Market demand for galvanized products in the United States will not need a kickstart or new capacity until the construction market recovers.
While executives of steel coating companies expressed greater confidence in other markets using galvanized products, they continue to view the construction industry as depressed and can’t predict when it will rebound.
"Two months do not a trend make," one participant said at AMM’s Galvanized and Coated Steel Conference in Dearborn, Mich., referring to such indicators as the Architectural Billings Index, which rose in March.
"I believe 20 percent of all mortgages are under water," Jerry Richardson, general manager of Terre Haute, Ind.-based CSN LLC, said in referring to homeowners who owe more than their home’s current appraised value. CSN is a subsidiary of Brazilian steelmaker Cia. Siderúrgica Nacional.....
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