Andre Gerdau Johannpeter, CEO of Americas-based steel producer Gerdau, has said that the North American market still shows some growth with a positive outlook, despite the slowdown in China, India and South America and the obvious crisis in Europe.
Speaking at the Steel Success Strategies meeting in New York, Mr. Gerdau Johannpeter emphasized that the automotive industry has recovered after the crisis. He said the number of vehicles manufactured in North America totaled 13.5 million in 2011 and is expected to reach almost 17 million in 2014. He added that non-residential construction demand has been picking up and that the US PMI has been above 50 points for the last 34 months. Taking all these into consideration, Gerdau believes apparent steel use in the US will grow well above the world average.