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…
The green shoots of recovery are poking up from between the steel beams of production.
Let’s nurture them and help them grow, but not get too excited. I fear there may be storms before the harvest!
Our business trends report continues to validate our positive outlook for steel Kevin. Thanks for the comment.