On The Call: US Steel’s CEO says automotive market looks ‘pretty good’ compared to 2009
By APTuesday, January 26, 2010
On the Call: US Steel CEO on 2010 auto market
DENVER — One of the bright spots for the steel industry in the fourth quarter was improving demand in the automobile sector.
During a conference call with analysts Tuesday, John Surma, U.S. Steel Chairman and CEO, said he believes 2010 will be a better year for the automakers.
QUESTION: What areas do you look at to determine if the automotive market will show additional improvement this year?
ANSWER: “I think we look at those schedules…and they go out a little ways but that so far has been encouraging, and certainly what we’re looking for in 2010, at the moment, looks pretty good compared to 2009 but almost anything looks pretty good compared to 2009.
“It was a very, very difficult year for the auto customers and for us of course, so I would…say if the overall economy continues to gradually improve, if the employment picture at least stabilizes and maybe there’s some improvement and if the flow of credit and overall consumer activity improves and I think that sets up for a potentially good year in the automotive sector.”
