Nonetheless, steel is still everywhere. Steel is in the Lexus, Audi and Chevy. Steel is high tech and business oriented. Kick a file cabinet. Write on a metal desk.
Stainless steel is used for high Temperature cooking, medical instruments and implants.
Plow a field with farm equipment. Some companies can't compete with offshore competition and are being gobbled up at low multiples. Merge, purge and profit will continue in the steel industry, just as it will in the utility and telecommunication industries. Japan and Europe are recovering and the U.S. economy grows on. Demand for steel should remain strong.