Economy

SMA Elects New Leadership to Board of Directors
Written by Sandy Williams
February 4, 2016
Washington, D.C. – The Steel Manufacturers Association (SMA) Board of Directors today announced that Tracy Porter, Senior Vice President of Commercial Metals Company (CMC) and President of CMC Americas, was elected as Chairman of SMA’s Board of Directors for 2016-2017.
In July 2010, Mr. Porter was appointed Senior Vice President of CMC and President of the CMC Americas Division. He previously held various positions with the company, as he began his CMC career at the Seguin, Texas mill, later became General Manager of the CMC Steel Arkansas/CMC Southern Post unit in Magnolia, Arkansas, and also served as the head of the company’s Rebar Fabrication Division.
Additionally, Jeff Dyck, President of Cascade Steel, was elected as First Vice Chairman of SMA’s Board of Directors. Peter Campo, President of Gerdau Long Steel North America, was elected as Second Vice Chairman.
SMA President Philip K. Bell said, “I am pleased to have Tracy lead an organization that supports 21st Century Steelmakers and helps build businesses, lives and communities. The SMA is uniquely positioned to represent EAF steelmakers and re-rollers, who over the last 25 years have emerged as the dominant force in North American steelmaking.”
SMA Chairman Tracy Porter said, “I am excited to work with Phil, his team and the SMA membership to confront the challenges that face our industry. Success will require our collective efforts to analyze, advocate, and articulate how important a strong domestic steel industry is to the prosperity, security and future of North America.”
Richard Teets, Jr., Executive Vice President for Steelmaking and President and COO of Steel Operations for Steel Dynamics, Inc., had served as the SMA’s Chairman for the past two years, and will remain on SMA’s Executive Committee as Immediate Past Chairman.
“I am extremely appreciative of the exceptional job that Dick Teets did as Chairman of the SMA. He was an effective leader during some challenging times for our industry,” said Bell.
SMA is North America’s largest steel trade association, and the primary association for electric arc furnace steel producers. SMA’s member companies account for over seventy-five percent of total domestic steelmaking capacity. (Source: SMA Press Release)

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.

Chicago Business Barometer rose to 16-month high in March
The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.

Durable goods orders rise again in February
Transportation equipment led the increase, rising 1.5% to $98.3 billion.

Consumer confidence falls for fourth consecutive month
People remain concerned about inflation, trade policies, and tariffs.

Housing starts ticked up in February
Single-family starts last month hit a rate of 1.10 million, a month-over-month increase of 11.4%, census data shows.