RG assets could restart, analysts say

Oct 08, 2012 | 05:56 PM | Michael Cowden

Tags  RG Steel, Sparrow's Point operations, Nucor, U.S. Steel, slab, steel, Posco, ThyssenKrupp Timna Tanners Bank of America Merrill Lynch

ROSEMONT, Ill. — Despite the bankruptcy and sales of RG Steel LLC’s assets, significant parts of the former steelmaker’s capacity could still be restarted, steel analysts said.

"Until (the Sparrows Point, Md., facility) is shipped to China or melted down to scrap, somebody will open it," John Anton, manager of steel services for IHS Global Insight Inc., said Monday during a question-and-answer session at Steel Market Update’s third annual Steel Summit in Rosemont, Ill. "If it takes $2 billion to build it, and you can buy (it) for $100 million ... someone is going to buy it for $100 million and try to run it. That is just the way the....

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