Steel Products
No Windfall from Storm, Says Steelmaker
Written by Tim Triplett
September 16, 2017
ArcelorMittal is not expecting a big bump in business anytime soon due to the hurricane damage in Texas and the Southeast. “That will take a while to pass through,” said Wendell Carter, vice president and general manager of the steelmaker’s Indiana Harbor mill. Carter responded to questions during a media tour of the East Chicago, Ind., mill on Wednesday.
Residential construction materials will see an effect from the storms well before steel, he predicted, even though an estimated 500,000 cars and trucks were destroyed by storm water in Houston alone. “People will focus on the necessities of getting back into their homes. They will cover their basic needs first before they replace their vehicles. If they had multiple vehicles, they will get by with one for a while.”
Record rains from Hurricane Harvey caused extensive flooding and water damage in Texas. High winds from Hurricane Irma did more damage to structures and infrastructure. Carter expects more immediate demand for steel construction products, such as studs and metal roofing, in Florida. “We will get some of that business with infrastructure replacement,” he said. “Vehicle-wise, I don’t look for it to be a windfall [for steel] on an immediate basis.”
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
Active rig counts rise in US and Canada
Drilling activity increased in both the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.
FabArc Steel Supply completes projects in Mississippi, Georgia
FabArc Steel Supply announced this week the completion of two large-scale projects in Georgia and Mississippi.
US rig count slips, Canada ticks higher
ncreases through September, according to the latest Baker Hughes rig count data.
CRU: EC to toughen steel safeguards
The European Commission proposes cutting its steel import quota by almost half, with volumes exceeding the limit facing 50% duties. The region’s steel industry welcomes the move, while other steel-producing nations fear the consequences. CRU published an insight before this announcement, noting that more restrictive trade policy could significantly raise the cost of marginal supply […]
US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.