JEREMY FLACK QUOTED IN WALL STREET JOURNAL

According to the Wall Street Journal, the strike against the Detroit automakers is dealing a blow to the U.S. steel market, with the spot-market price for benchmark coiled sheet steel falling 40% since April.

“The air just got sucked out of the steel market,” said Jeremy Flack, chief executive of Flack Global Metals, a Chicago-based steel distributor. “There’s fear in the market and nobody wants to buy anything.”