Flat-rolled market improving: U.S. Steel

Jul 31, 2013 | 11:43 AM | Catherine Ngai

Tags  steel, flat-rolled steel, U.S. Steel, John P. Surma, Mario Longhi, Lake Erie, Pro-Tec, Republic Steel catherine ngai

NEW YORK — U.S. Steel Corp. expects the flat-rolled market to pick up in the third quarter, underscored by recent momentum in sheet price hikes.

"Demand has been relatively stable and many of the value-added markets we serve continue to improve. While the recovery in the automotive market has clearly led the way, other markets, including appliances, agricultural equipment and residential construction, are also making progress," John P. Surma, chairman and chief executive officer of the Pittsburgh-based steelmaker, said during a second-quarter earnings conference call. "The combination of improving demand and generally lean supply chain inventory levels has provided support for the improving pricing environment as of late."....

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