Steel market set for status quo: Tumulty

Jan 15, 2013 | 05:16 PM | Catherine Ngai

Tags  iron ore, Jim Tumulty, Seaport, RG, fiscal cliff, policy, Europe, debt ceiling AWMI

NEW YORK — The domestic steel market is unlikely to see a significant rebound in 2013 due to recessionary issues in Europe and an uncertain political climate, according to Jim Tumulty, senior managing director at investment bank Seaport Group LLC.

"The domestic outlook for steel: Is the glass half empty or half full? We do not expect a major rebound in 2013," Tumulty said during an Association of Women in the Metal Industries regional dinner Jan. 14 in Carlstadt, N.J. "We think Europe will remain recessionary, there’s negative growth in Germany (and) most of the things that came as a part of the financial crisis remain."....

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