Auto strength reason to invest: Severstal exec

Jul 12, 2013 | 04:23 PM | Catherine Ngai

Tags  steel, Severstal, Chris Kristock, U.S. Steel, continuous annealing line, auto, aluminum, Catherine Ngai

NEW YORK — The U.S. steel industry has reason to celebrate as a multi-year-strong automotive industry is not only boosting sheet demand, but also allowing for advanced innovation, according to an automotive executive at Severstal North America Inc.

Automakers in the United States have reported stronger sales volumes in recent months due to robust demand, stable gas prices and an improving job market, which has effectively helped order books for steelmakers focused on that market, such as Dearborn, Mich.-based Severstal NA.

"It’s pretty optimistic anywhere you look. The sales forecasts are up and June numbers are higher than they’ve been for a long time," Christopher Kristock, Severstal NA vice president of quality and product development, told AMM in an interview.....

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