Steel facing headwinds, opportunities: SDI
May 07, 2014 | 10:26 AM
| Michael Cowden
INDIANAPOLIS The steel industry faces stiff challenges but could see strong future growth thanks to a rebounding U.S. economy and increased domestic shale gas production, Steel Dynamics Inc.s top executive said.
Among these challenges are pressure from imports, global steel production overcapacity and tighter spreads between scrap and blast furnace raw materials, according to Mark D. Millett, president and chief executive officer of the Fort Wayne, Ind.-based steelmaker.
"Domestic steel prices rise, the spreads to global prices expand, imports spike and domestic prices turn over," he said May 6 during a keynote presentation at the Association for Iron and Steel Technologys annual AISTech conference in Indianapolis. "Its not a dramatic change from the recent past. But its a cycle that has become more frequent."....
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