Natural Resources >> Analyst Interviews >> May 2, 2005

OUTLOOK FOR THE STEEL INDUSTRY: WAYNE ATWELL – MORGAN STANLEY

WAYNE ATWELL is a Managing Director who joined Morgan Stanley in 1991. He covers the nonferrous metals, mining and steel. He has been ranked in the Institutional Investor All-America Research Team poll every year for the past 15 years, with a number one ranking in 1999. Prior to joining the firm, he was a Vice President at Goldman Sachs, President of Atwell & Co., Vice President/Partner at Davis Skaggs, and a Senior Metals Analyst at Merrill Lynch. He received a BS in Mineral Economics from Pennsylvania State University and an MBA in Finance from New York University Stern School of Business. He holds the Chartered Financial Analyst designation and is a past President of the New York Steel Analyst Society. Profile
TWST: What's going on in the steel industry at this point?

Mr. Atwell: There are a lot of crosscurrents in steel right now.

Underlying demand is relatively firm, but there is