Stainless profits to stay flat: distributor

May 02, 2013 | 12:18 PM | Daniel Fitzgerald

Tags  stainless steel prices, stainless steel profits, Brad Beauchamp, Global Stainless Steel, AK Steel, stainless demand, nickel, Daniel Fitzgerald

TORONTO — Profits in the flat-rolled stainless steel industry will be "nonexistent for the next three years," according to an executive at Global Stainless Steel Inc.

The arrival of new production capacity in the North American stainless market—particularly through the Calvert, Ala., mill of Finland’s Outokumpu Oyj—is likely to "keep prices depressed for the foreseeable future," Brad Beauchamp, vice president of the Mississauga, Ontario-based company, said at the International Nickel Conference in Toronto, hosted by AMM sister publication Metal Bulletin.....

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