The Steel Casting World

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The Steel Casting World

We are seeing some real trouble out there in the steel castings world folks.  Despite news that all sectors of the US economy are holding their own, the industrial world, steel foundries in particular, are doing their best to tread water while oil and most other commodities find an equilibrium, but it’s painful.

There are several steel foundries near us here in Ohio that are either on prolonged shutdowns or have gone out of business.  We can at least say that we are holding our own right now.

And it doesn’t sound much better for most of our high-alloy peers — foundries like us that produce monel, inconel, stainless steel, high nickel castings, and other specialty ferrous materials are similarly struggling.  The automotive foundries seem to be OK and the big locomotive houses are doing well, but that’s about it.  We keep waiting for the other shoe to drop in the steel casting world.

Goldman Sachs does forecast that oil will average closer to $60/barrel in 2016 as capacity comes offline.  We shall see.

For now, it’s a weird time in our industry.

About the Author:

I am the president of a mid-size iron and steel castings company in Northeast Ohio. The foundry business is dirty, smoky, competitive, and not for the faint of heart. One must endure blistering heat, and go without seeing light for days, if not weeks or months at a time… Okay, that's a slight exaggeration. As a descendant of famed Siberian pathfinder Dmitri Zlatzutuov, I'm eager to carry on the family tradition of persevering no matter what obstacles lie ahead. Now that I'm done giving you the family history, I can tell you that I'm also an attorney and I volunteer a portion of my time to causes involving First Amendment litigation, as well as for Community Legal Services out of Akron, Ohio—for which I was recently recognized as ‘Volunteer Attorney of the Year.’ In addition to my normal day-to-day, I occasionally have works published in journals and magazines, though much less often lately, as running a company tends to fully occupy one's time.

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