The recovery also has its downside, as the cost of raw materials used to make steel rises. Iron ore futures are holding near all-time highs, while steel scrap prices in the U.S. remain high after rising about 60% in the past year. That’s according to livemint.com in a recent article on its website.
Historic upswing: steel demand to rise even further
The top Stelco Holdings Inc. executive sees a “historic” upswing ahead that will drive steel demand higher than he expected in February.
“I was optimistic two weeks ago, but what I learned the last couple weeks is the extent of the end market demand,” Stelco Chief Executive Officer Alan Kestenbaum said Tuesday in a phone interview. “It’s there, and I think we’re going to see a historic rebound here as people get out and start living again.”
Read the full interesting article with phone interviews here:
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