“Harvey will have some sort of an effect on steel supply because of all of the steel that is down in [the Texan city of] Houston,” a Midwestern USA steel distributor predicted. “I expect that at least 60% of the carbon steel in Houston will end up being claimed [for insurance]. Even 30% would be a huge number.”
“Non-prime [material] will come out of the Houston area due to water damage – that’s a given. Ships at sea will need to divert to other ports of entry,” a non-prime steel dealer said.
“There’s going to be a lot of tear-downs and a lot of building work that needs to be redone,” a mill source said. “Ultimately, the rebuild will use a lot of steel – sheet, plate, angle, beam, tubing, casting, the whole spectrum. Think about the infrastructure, the pumps, the electrical poles that will need to be replaced.”
After Hurricane Sandy hit...