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MSCI president shares top trends affecting metals industry

Metals Service Center Institute (MSCI) President and CEO M. Robert Weidner III discussed the top five trends challenging the metals industry in his State of the Industry address as his tour of MSCI chapters began in January.

“A number of forces play a significant role in the landscape of our industry,” said Weidner. “It’s important to understand them to make informed decisions, and to be aware of the ongoing changes that impact us.”

  1. Market Intelligence – Volatile markets and increasing competition have heightened the need for trustworthy data and analysis tools, as well as the need for cybersecurity resources and training to secure market intelligence.
  2. Business Disruption – World events have an even bigger impact on local economies than before, creating a need for topic- and area-specific experts and information and enhanced vehicles and technology to provide information.
  3. Congressional Gridlock – U.S. partisan politics have stalled action in the legislative branch, often resulting in extreme actions through regulators that have impeded manufacturing growth. It’s imperative to continue to advocate on behalf of the metals industry in the U.S. and Canada for pro-business agenda.
  4. Safety and Risk Management – Slow market growth has left companies cautious to invest. Workplace safety initiatives and tools are more important than ever in attracting and retaining employees.
  5. Skilled Labor and Changing Demographics – Attracting a skilled workforce remains a challenge for the industry, especially as boomers retire and millennials enter the workforce in larger numbers. There is an ongoing need for educational resources and programs, from entry-level through executive metals-centric training.

Weidner also discussed initiatives and enhancements the association, based in Rolling Meadows, Ill., has made to help its members deal with the business challenges these trends represent. He cited MSCI’s expanded Metals Activity Reports, new cybersecurity study results, the expert speakers provided at industry conferences, white papers, advocacy updates, an enhanced app, advocacy coalitions and efforts, new safety offerings, and expanded education. He also reported on the MSCI scholarship program, which last year awarded nearly $700,000 to member families.