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Market holds breath on transportation bill’s US-made steel requirement
February 08, 2012 - 01:37 GMT
Location:
New York
KEYWORDS:
transportation
,
American-made
,
steel demand
,
Chip Cravaack
,
construction
A mandate in the House of Representatives’ transportation bill that would require the use of U.S.-made steel in government projects may drive demand for domestic producers, but some market participants maintain that it is still too early to tell.
The domestic-steel amendment was introduced by Rep. Chip Cravaack (R., Minn.) during the bill’s markup last week by the House Transportation and Infrastructure Committee. He said that the provision would create U.S. jobs, increase U.S. steel production and ensure that more American steel products are used in federal construction projects.
The transportation bill, part of the five-year, $260-billion American Energy and Infrastructure Jobs Act, would bring an...
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Euromoney Institutional Investor PLC.
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