U.S. Domestic Steel Demand Outlook Weakens
August 16, 08 by TheFleetIf you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
Source: Sunny Steel News Center
Prices continued to increase for all steel products and the mills have announced further price increases for August and September. Our contacts voiced increased pessimism, however, on the ability of the mills to pass along the announced increases and as well as achieve higher pricing in the fourth quarter.
… The diminishing outlook of distributors on steel-pricing fundamentals is driven by the widely reported declines in ferrous scrap pricing and further weakness in demand, particularly for automotive.
… ArcelorMittal is taking a fourth-quarter 2008 100-day maintenance outage at its Burns Harbor mill, which will significantly reduce the amount of steel production aimed at the sluggish domestic automotive industry.
Many more predictions, citations at the Sunny Steel News Center >>
