Higher steel output to help US: study

Jan 25, 2013 | 01:36 PM | Catherine Ngai

Tags  steel, steel output, scrap, scrap exports, Alan Price, Thomas Danjczek, Steel Manufacturers Association, SMA American Scrap Coalition

MIAMI — Boosting U.S. steel production while consuming raw materials, such as ferrous scrap, domestically rather than shipping them overseas will shrink the U.S. trade deficit while generating more tax revenue, according to a joint analysis by two trade groups.

"The key conclusions of this analysis ... based on standard modeling is that if we were to increase steel production, it would create tens of thousands of new jobs, add billions of dollars to GDP (gross domestic product) and reduce the trade deficit," Alan Price, president of the American Scrap Coalition and partner at Washington-based Wiley Rein LP, told executives Jan. 24 during a presentation at the Steel Manufacturers Association’s (SMA’s) annual....

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