Gerdau bullish on N. America for 2014

Nov 01, 2013 | 11:15 AM | Samuel Frizell

Tags  Steel, Gerdau SA, Gerdau Long Steel North America, Andre Gerdau Johannpeter, steel production, ABI, PMI, Samuel Frizell

NEW YORK — The North American steel market will see stronger sales in 2014 and 2015 with improving construction markets and overall economic conditions expected to boost the steel industry, Gerdau SA executives said in a conference call with investors Oct. 31.

"Despite all the uncertainties related to the debt ceiling, we remain optimistic that the U.S. market will post improvements in the next year," Gerdau president and chief executive officer Andre Gerdau Johannpeter said. "In 2014, there should be improvement in the North American economy of 2.6 percent (gross domestic product) growth, and steel consumption should grow by 3 percent, mainly driven by the automotive, power and non-residential construction industries."....

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