Mark Parr is a steel specialist at McDonald Investments in Cleveland. The companies that have shown the greatest ability to achieve consistent profits have common theme of a low cost production orientation. I think from a standpoint that steel is a commodity product you know it is a basic building block of many manufactured goods. Cars, appliances, ship excetera. The fact that it is a basic commodity input, requires a low cost orientation to ensure profitability.
Parr feels American steel is here to stay.
One of the reasons is the fact that steel is very heavy and if you make products out of steel you want to be close to where it's made to save transportation costs. As the future of steel goes, so goes the future of our manufacturing economy. Steel is an intrical part of almost everything produced in this country and it has been for many decades and it will be for many decades to come. From a standpoint that you and I both believe the American economy is going to be moving ahead over the next several decades. I think that also means good things for the steel industry as well.