Surma Sees Recovery Beginning for Steel Industry

Delivering the keynote address to an audience of more than 1,000 people during the recent Association of Iron and Steel Technology conference in Pittsburgh, U.S. Steel (Pittsburgh, PA) CEO John Surma spoke about the future and the direction in which he sees the steel industry heading after a dismal 18 months.

Surma sees signs of the economic recovery all around. The fact that the United States has a wealth of natural resources will allow the steel industry to return to normal levels without the burden or expense of importing the materials needed to produce steel.

Surma had positive things to say about moving out of the recession, saying that although we are only in the early stages of recovery, the future looks better. He added that the recovery will be hastened by strong management and leadership, and a dedicated workforce.

Surma noted how the steel industry was caught up in the downward spiral of the economic collapse. "Last year at this time, we all thought the world was going to end," he said. "It didn't. The dark times will come; they always do, but so do the brighter times." Although we are in the early stages recovery, he believes it will be years before we see a return to normal. "This time, our sector was strong, but the overall economy went bad," he remarked. "We've already gone through a good bit of restructuring earlier in the decade, so we are better prepared and better managed to come out of the abyss quicker than in other downturns."

Surma spoke about the proposed cap and trade environmental legislation. "I don't understand the workings of Washington, and don't want to," he said. Speaking of the cap and trade policies that have been adopted in Europe, Surma said, "It did nothing at all but make the utilities rich, in our minds," noting that policies have not produced the emissions-reduction results that were expected in Europe.

More than 6,000 people attended this year's Association of Iron and Steel Technology (AISTech) conference. The conference was held at the David L. Lawrence Convention Center in Pittsburgh and included a two-hour "Town Hall Forum" attended by more than 1,500 people. Industry experts answered questions and offer insights into this re-emerging market.

The AISTech 2010 conference closed on a high note after 18 months of uncertainty and concern for an industry that has been part of the backbone of our society.

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