US economy ‘flat’ but looking up: CMC
Oct 24, 2012 | 04:17 PM
| Michael Cowden
CHICAGO While the North American economy is far from its peak of several years ago, it has become attractive compared with the rest of the world given its relative stability in the face of global economic volatility, Commercial Metals Co. (CMC) executives said.
The Irving, Texas-based steelmaker has been affected by the strong Australian dollar and the difficulties it has caused for the countrys economy; the eurozone crisis, which has hurt CMC operations in Poland; and a slowdown in growth in China, which has put pressure on margins in the region, CMC president and chief executive officer Joseph Alvarado said.
Even previously profitable products related to energy, such as energy tubulars and special bar quality (SBQ) steel, have seen margins squeezed. That cut into earnings from CMCs international marketing and distribution business, chief financial officer and senior vice president Barbara Smith said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.