Steel coating firms branch out in tough market
May 02, 2012 | 01:12 PM
| Corinna Petry
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 cant predict when it will rebound.
"Two months do not a trend make," one participant said at AMMs 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 homes current appraised value. CSN is a subsidiary of Brazilian steelmaker Cia. Siderúrgica Nacional.....
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