Fourth quarter will be barometer for stainless steel industry
Aug 28, 2012 | 07:00 PM
| Myra Pinkham
The health of the domestic and global economies in the fourth quarter could make or break the near- and medium-term profitability of the U.S. stainless steel industry, according to analysts.
North America remains one of the strongest regions globally, with many stainless-consuming industries in the region recovering sooner than expected, said Amy Bennett, principal steel consultant at Metal Bulletin Research. However, she acknowledges that there has been some slowing due to a combination of economic uncertainty and falling raw materials pricing.
The momentum that the U.S. stainless market had been experiencing in the first quarter is currently fading a little, and in recent months it has even begun to go slightly backwards compared with the very strong market a year ago, said Markus A. Moll, managing director and senior market analyst at Steel & Metals Market Research GmbH, Ruette, Austria. ....
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