Service Centers
August 27, 2019
Steel Distributors Discuss Demand, Tariffs and Labor at SMU Summit
Written by Sandy Williams
Steel demand from the agricultural sector is down substantially, according to a panel of steel distributor and processing CEOs at the 2019 SMU Steel Summit. North American farming profits were hit hard in 2019 by weather, high steel prices and retaliatory Section 232 and 301 tariffs, impacting the ability of farmers to invest in equipment.
At Monday’s meeting in Atlanta, Eddie Lehner of Ryerson, John Reid of Russel Metals and Kurt Russell of Precoat Metals, agreed that nonresidential construction demand has been relatively steady and growing while demand remains soft in agriculture and energy. The panel was cautiously optimistic about improving service center demand in 2020.
