Sandy's impact on steel said likely longer term

Nov 21, 2012 | 12:06 PM | Chris Prentice

Tags  U.S. steel market, steel demand, Sandy, superstorm, rebuilding, infrastructure projects, steel mill, service center SMA

NEW YORK — The steel industry stands to see an uptick in demand due to the effects of Hurricane Sandy, but the boost will likely not be felt anytime soon, according to market sources.

However, automobiles, buildings and infrastructure were all damaged during the storm, and with the amount of steel that is used by the automotive and construction sectors, steel will be a likely beneficiary of increased demand due to replacement and rebuilding efforts, sources said.

"Natural disasters do tend to be good for the steel business," one service center source told AMM. "Mother Nature—it tends to be more longer term, when the rebuilding begins."....

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