Too often, the steel industry has discounted or ignored the serious threat posed by these alternatives. While it is too early to predict its success, the Steel Alliance's promotional campaign is a step in the right direction. To increase market share and margins, steel companies must devote even more attention and resources to product development. Research and development can enhance the integrity and suitability of steel products. It can result in technological advances that reduce steel's production costs.
Little effort is made to promote our customers' products or their cost reductions.
Compared to the U.S. government, foreign governments often are more cooperative in terms of approving standards and regulations for newly developed steel products. Stringent regulations make it difficult to obtain approvals for new standards and codes, which inhibits new development. Corrosion-resistant reinforcing bar is an example of this. Alternatives to steel will continue to be developed. If the prospects for the steel industry are to improve, we can't bury our heads in the sand.