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MSCI tubular conference: Ferriola forecasts fair but flat year.

Publication: Metal Center News
Publication Date: 01-FEB-07
Format: Online
Delivery: Immediate Online Access
Full Article Title: MSCI tubular conference: Ferriola forecasts fair but flat year.(BUSINESS TOPICS)

Article Excerpt
"IN 2007, many key markets will be flat or slightly down. However, given the strength of 2006, slightly down is not a bad thing."

That sentiment characterized the moderately optimistic forecast offered by John Ferriola, executive vice president of Nucor Corp., who spoke to service center executives Jan. 19 at the Metals Service Center Institute's Tubular Products Conference in Ponte Vedra, Fla.

Nucor predicts that steel demand will grow at a rate of just 1 to 2 percent over the next three to four years. Ferriola offered a mixed outlook for major end-use markets in 2007.

In automotive, U.S. light vehicle production will dip to 16.4 million units, down from 16.5 million. Growth in nonresidential building will be offset by weakness in housing, resulting in a 1 percent overall decline in the construction sector. Production of...

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