Steel market shows stability in Fed’s summary

Oct 17, 2013 | 01:10 PM | Corinna Petry

Tags  Economic outlook, Federal Reserve, steel, scrap, copper, aluminum, automotive, aerospace steel imports

CHICAGO — Eight of 12 federal reserve bank districts reported economic growth during an eight-week period through early October, with some cautious optimism evident in modestly higher business spending and hiring, according to the Federal Reserve’s latest economic conditions report.

In the Cleveland district, steel producers and service centers reported that shipping volume was increasing, albeit at a very slow rate, but several survey respondents expressed concern about the quantity of steel imports, especially from China. Steelmakers do not expect market conditions to change appreciably in the coming months.....

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