The global steel market is currently producing more than 2,300 million metric tons (MT), yet, global demand is only at 1,500 MT. Furthermore, an additional 352 MT capacity is planned for this year. That’s a lot of excess, and it’s affecting U.S. companies, workers and the global steel market. So what’s going on?
With fewer internal resources and smaller engineering staffs, many manufacturing companies are now seeking outsourced partners to help them enhance engineering activities so they can concentrate their internal bandwidth on core competencies.