Obama re-election divides US metals industry

Nov 07, 2012 | 04:32 PM | Catherine Ngai

Tags  steel, Gary Stein, Triple-S Steel Supply, Dave Phelps, AIIS, Obama, Romney, election fiscal cliff

NEW YORK — Metals industry participants who were hoping a change in power at the White House would stimulate fundamental change in the marketplace may have to reconsider their next moves.

On Tuesday, the nation—including many metal-heavy manufacturing states, such as Ohio and Pennsylvania—re-elected President Barack Obama over former Massachusetts Gov. Mitt Romney.

In the weeks and months leading up to Tuesday’s election, some market participants had said they were reining in capital spending as they awaited the results of the race—and subsequent clarity on the future of the regulatory climate (amm.com, Oct. 31). But while the outcome of the election is now a reality, any newfound clarity may not be enough to stimulate activity after all, some market players said.....

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