Excess steel capacity prompts timing game
May 15, 2012 | 04:59 PM
| Corinna Petry
CHICAGO April steel shipments by service centers dipped to their lowest level in four months, helping spur a 2.5-percent rise in inventories from the previous month even as demand continues to hold steady despite some erratic moves in spot pricing, market participants told AMM.
"Inventories did increase," Metals USA Holdings Inc. chairman and chief executive officer Lourenco Goncalves said Tuesday. "But this is not a number to scare anyone. History will show numbers that are way above 10 million tons with very healthy dynamics in the marketplace."....
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