MAPI economist: steel market will not recover until 2012
By Tom Stundza -- Purchasing, 3/12/2009 2:00:00 AM
The domestic steel market may stabilize next year but won't show solid improvement until 2012, suggests Daniel Meckstroth, chief economist for the Manufacturers Alliance/MAPI business research group. He told the Steel Manufacturers Association's board of directors meeting in Tucson, Ariz., in late February that "it might take three years for domestic steelmakers to return to normal operating levels of 70–80%." Many steel producers in the U.S. and Canada currently are operating at 50% of capacity. "To get back up to 80% capacity utilization, it's probably going to be 2012," Meckstroth repeated to the audience, in his presentation.
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