Steel will survive short gov't shutdown: exec

Oct 07, 2013 | 02:16 PM | Catherine Ngai

Tags  Hans Jürgen Kerkhoff, German Steel Federation, steel demand, Joon-Yang Chung, Posco, World Steel Association, WorldSteel, steel demand Catherine Ngai

SAO PAULO — U.S. steel demand is unlikely to be impacted by the recent U.S. federal shutdown, provided the issue remains a short term one, according to German Steel Federation president Hans Jürgen Kerkhoff.

"In 2014, (U.S.) steel demand is expected to grow by 3 percent, aided by the improving global economy and activities in the automotive and residential construction sectors," Kerkhoff said during a press conference at the World Steel Association’s (WorldSteel’s) annual conference in Sao Paulo. "We do not expect the government shutdown to impact GDP (gross domestic product) negatively if the shutdown is confined to a few days."....

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