WCA January 2011

From the americas

in 2009, according to the institute. As noted by Mr Szakonyi of the Journal , the “anecdotal evidence” of a developing hub in northeast Florida includes a dozen known recyclers and a new marine terminal in Talleyrand to handle steel scrap. (“Jacksonville Scrap Steel Creates Export Opportunity,” 8 th October)

Alberto Cabrera, the director of cargo sales and marketing for the Jacksonville Port Authority, offered two reasons for the burgeoning demand for steel scrap from the United States: infrastructure investment by South American countries, and China’s shutdown of many steel mills that did not meet carbon-dioxide emission standards. According to the Institute of Scrap Recycling Industries Inc, a Washington-based trade association, China accounted for about a third of American steel scrap exports, with Canada, South Korea and Turkey the other major takers. The $54 billion domestic recycling industry employed about 105,000 people

Elsewhere in steel . . .

Craig Bouchard, who gained a reputation for acumen by ❖ ❖ getting out of the steel business just before the global

recession sapped demand, is getting back in. Mr Bouchard, with his brother James, sold the steel assets of their company Esmark Inc (Chicago) to Russia’s OAO Severstal for $775 million in August 2008. Now, perceiving that weak steel demand and restricted access to credit represent an opportunity, he is founding a company to acquire steel producers and distributors. “The steel market has no legs right now. Customer demand is not there,” Craig Bouchard told BloombergNews (1 st October). “It creates incredible valuation opportunities if you believe the world is going to start recovering next year [2011]. And I believe the world is going to start recovering next year. Therefore I’m a buyer.” Shale-Inland LLC will seek acquisitions in $20 million to $100 million range, said Mr Bouchard, who will serve the Chicago- based start-up as chief executive officer. In a green-tinged issue with China, the United Steelworkers union finds a receptive ear close to the President US Trade Representative Ron Kirk said (15 th October) that he would investigate claims by the United Steelworkers (USW) union that China is violating trade laws through massive subsidies of its clean energy industry. He holds a Cabinet-level position and serves as President Barack Obama’s principal trade advisor, negotiator and spokesperson on trade issues. Mr Kirk announced his decision a month after the 850,000-member union asked Washington to pursue a trade case based on what USW officials called “protectionist and predatory practices” by which China threatens US jobs and manufacturing. Trade

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Wire & Cable ASIA – January/February 2011