Severstal NA CEO sees pickup in 3d or 4th qtr.
Apr 22, 2013 | 05:08 PM
| Catherine Ngai
NEW YORK Severstal North America Inc. doesnt see the steel sheet market turning around for at least another quarter because of global economic uncertainty, import pressure and lackluster demand, its top executive said. But some bright signs on the horizon, including growth in the construction sector, could boost near-term buying activity, he added.
"I dont think well see a pickup in the second quartermaybe in the third quarter or closer to year-end," chief executive officer Sergei Kuznetsov told AMM. "Around this time of year, we usually see the start of the construction season and restocking in the marketplace, which normally leads to a nice upturn. .... But were not seeing that. I think thats a sign that this year isnt going to be very good overall, because we have to deal with this uncertainty, low utilization rates in the industry (and) high import pressure." ....
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