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:
Source: livemint.com
Steelnews.biz constantly searches the Internet for important, interesting and informative news.
Are you missing an information, do you have a question or are you interested that we refer to a certain article or press release of Steelnews.biz? Then simply contact us now.
We always try to refer to the correct source of a news item.
Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
