Economy
February 9, 2014
Bradford Warns of “Black Swan” Lurking
Written by John Packard
Steel analyst Charles Bradford of Bradford Research spoke at the Port of Tampa Steel Conference this past week. He presented a relatively upbeat analysis of the domestic steel industry. He began by referring to a recent McKinsey and Company report which basically said, “The steel industry has had it, it’s over. The industry doesn’t make enough money to keep the industry up to date.” Mr. Bradford said of the report, “I disagree.”
The U.S. is in a position unlike any other country. Our population grows about 1 percent per year which means 1.5 million housing units per year. This is fundamental growth which is good for the steel industry.
