State Of Steel Industry 2011

Industry Week’s report on the AISI’s annual meeting in Colorado Springs is the Official report on AISI website.

Here are a few key highlights.

• U.S. steel shipments will rise 14% in 2011 to approximately 90 million tons as the industry continues to rebound from the recession,  according to Nucor Chairman and CEO Daniel DiMicco
• In March finished steel imports into the United States rose to their highest level since January 2009, said DiMicco, who also serves as AISI chairman.
•  Demand from the commercial and residential construction industry remains weak and is not expected to reach pre-recession levels until 2012 at the earliest, said DiMicco.
•  Increased demand from infrastructure construction projects has the potential create up to 3 million jobs over the next several years, said Mario Longhi, president and CEO of Gerdau Ameristeel Corp. and AISI director.

PMPA’s own Business Trends shows a recovery in progress. AISI reporting Steel Shipments up 14% and record imports confirm this- Steel is foundational to economic activity.
If you think steel prices are high now wait until  commercial and residential construction recovers in a year or so.

By: PMPA