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SMA President Quoted in S&P Global Market Intelligence on the Benefits of CHIPS Act

SMA President Philip K. Bell tells S&P Global Market Intelligence that the CHIPS Act will drive new demand for steel by increasing manufacturer confidence in supply chains. “I think where you’re going to see the most [impact] is in supply chain resiliency and predictability,” Bell says, adding that a reliable supply of semiconductors is crucial to steel buyers in many market sectors. “”If automotive manufacturers know that there’s not going to be any major chip shortage anytime soon, they can map out their production schedules and they can map out their purchasing and procurement requirements of steel well in advance,” he says.

Read more at https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-steel-industry-sees-boost-from-chips-act-infrastructure-bills-80616033.