NEW YORK Salzgitter Mannesmann International (USA) Inc. has hired former Stemcor USA Inc. steel trader Paul Lewitsch, the company confirmed to AMM.
Paul joined almost two weeks ago as an established trader capable of trading virtually everything, the Houston-based steel trader, a division of German steelmaker Salzgitter AG, said in an e-mailed statement March 27.
Lewitsch will be involved in trading a variety of steel products, the company said, without elaborating.
The company also refuted claims that Lewitsch would be focused solely on long products at the traditionally flat-rolled dominant trading division.
Speculation among market players was that Lewitsch, an 18-year veteran with a specialty in rebar and wire rod trading, would help Salzgitter expand its long products presence in the United States.
Pauls specialty is billet, rebar, wire rod, so Id imagine that hed continue trading long products. Salzgitter is not active in that market. ... (Salzgitter) has not done much rebar and wire rod trading and it makes sense for them to want to get involved in this business, one trader said.
A move into long products would also come at a time when U.S. steelmakers have filed trade suits against rebar imports from Turkey and Mexico (amm.com, Sept. 4), as well as rod imports from China.
Salzgitter Mannesmann has been a big player in the flat products business and they want a slice of the rebar business, a second trader said. Its a high-volume business and Salzgitter has seen an opportunity.
Salzgitter Mannesmann trades a variety of steel products, including semifinished material, hot-rolled coil, cold-rolled coil, hot-dipped galvanized, hot-dipped galvanized pre-painted, Galvalume, electrical steel, tin plate, and sections and pipe products, according to the companys website.