Bidding uptick seen good sign for steel: CMC

Jan 07, 2014 | 04:45 PM | Catherine Ngai

Tags  steel, Commercial Metals, CMC, bidding activity, rebar, reinforcing bar, construction, Joseph Alvarado imports

NEW YORK — Stability in the construction markets, marked by stronger bidding activity, might be a positive sign for the steel market, according to Commercial Metals Co.’s (CMC’s) top executive.

"We’re seeing better bidding activity, particularly in the Sun Belt," Joseph Alvarado, chairman, president and chief executive officer of the Irving, Texas-based steelmaker and metals recycler, said during the company’s fiscal first-quarter earnings call Jan. 7.....

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