Unfair steel imports stalling recovery: Longhi
Jun 18, 2013 | 05:36 PM
| Anne Riley
NEW YORK Skyrocketing overcapacity in the global steel sector continues to be one of the U.S. industrys main challenges, particularly as weak trade laws and lax enforcement encourage many foreign mills to send unfairly traded volumes stateside, a top U.S. Steel Corp. executive said.
"I think we can all agree that our industrys biggest challenge today remains the state of the global economy and its ongoing impact on the steel industry," Mario Longhi, president and chief operating officer of Pittsburgh-based U.S. Steel, said in a keynote address at the Steel Success Strategies XXVIII conference in New York sponsored by AMM and Englewood Cliffs, N.J.-based World Steel Dynamics Inc.
Demand for steel products in the United States, particularly for markets related to the booming energy sector, is on the rise, according to Longhi. However, with foreign steel mills rapidly ramping up capacity and some choosing to flood the U.S. market with that additional tonnage, domestic steelmakers havent reaped the full benefits of the energy-related uptick, he said. ....
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