Long steel market stronger than coil: CMC

Jun 27, 2012 | 04:34 PM | Michael Cowden

Tags  Commercial Metals, CMC, Joe Alvarado, steel, reinforcing bar, rebar, scrap, imports flat rolled

TORONTO — The U.S. steel long products market is healthier than headlines about the sector generally suggest, Commercial Metals Co. (CMC) president and chief executive officer Joseph Alvarado said.

Current bearishness about the steel industry might largely be a reflection of problems in Europe and doldrums in the domestic flat-rolled steel sector, CMC’s top executive said Wednesday during a conference call with analysts following the release of the company’s earnings results.

"The pessimism that we read about every day in the steel business is in many regards more a reflection of the flat-rolled business than it is of long products," Alvarado said. "We aren’t seeing as much volatility, or I’ll say ‘bad behavior,’ as the flat-rolled side of the business in North America, so I think we suffer a little bit from being grouped with all steel products, because long products have been a little more stable."....

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