ACIPCO and McWane Steel here in Alabama are running at record production levels and they still can't meet all of their orders for pipe and joint fittings.
Posted on 06/27/2004 9:50:02 PM PDT by Jerr
Steel price increases and healthy corporate revenues during the first two quarters of 2004 are slowly translating into jobs.
The steel industry turned out in force last week for the annual Steel Success Strategies conference in New York City. The number of participants jumped to more than 1,000 from 600 in 2003, when the industry appeared to be stagnating.
Although it continued to founder for the first several months following the June event in 2003, the steel business picked up steam as it neared the end of 2003 and roared into the new year.
As higher consumption brought increased orders and limited competition, the industry and the businesses serving it or buying its products found themselves with conditions that have turned 180 degrees during the past year.
Yet, despite the favorable times and outlook for their industry, hiring at the region's huge local mills is almost completely limited to replacing those leaving the work force through retirement or other reasons.
(Excerpt) Read more at thetimesonline.com ...
Bump!
My understanding is that the steel market is exploding because the ChiComs are buying every pound of scrap steel they can get their hands on to build out new manufacturing plants.
Finished steel goods, where the US steel labor market is, is another story.
Friend of mine is a steel broker...he can't get any product.
ACIPCO and McWane Steel here in Alabama are running at record production levels and they still can't meet all of their orders for pipe and joint fittings.
Ping
Surely a strange coincidence.
Why are the ChiComs buying up so much steel?
Yup, read that too. The reason given was demand by the ChiComs.
Perhaps because 1.1 Billion people are making the move from dirt floors and grass roofs to civilization in one generation, thus needing "stuff"?
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