Steel stabilizes in 2004 – Change could be on the way by decade’s end

Northwest Indiana News: “Indiana’s steel industry had stable employment, healthy growth and good output during 2004, but change could be on the way by the end of this decade.

Speaking at the IU Economic Outlook 2005 breakfast Friday, Don Coffin, associate professor of economics at Indiana University Northwest, said the fate of the local and domestic steel industry depends a lot on China.

China’s incredible demand for steel has eliminated the world’s oversupply of the commodity and turned the domestic steel market from disastrous to dynamic in the past year. Area steel companies have reported record profits in 2004 after they had significant losses in 2003.”

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