, Columnist
As Harvey's Waters Recede, Commodities Will Still Float High
The raw materials most needed for the rebuild are iron ore and steel, but there will be increased demand for zinc and copper, too.
Now the cleanup.
Photographer: Scott Olson/Getty Images.This article is for subscribers only.
Ranked as one of the nation’s most costly natural disasters, Hurricane Harvey shattered records for rainfall and flooding. With the water receding comes the awareness that the recovery will take years and require substantial quantities of commodities. The sprawling affected area of Houston is close to the size of Massachusetts and current expected costs of rebuilding the Texas city alone are $100 billion and could increase.
In addition to the damage to the energy, chemicals, shipping and rail industries, there are about 100,000 flooded homes, damage to tens of thousands of businesses and municipal and cultural buildings, along with the remains of lost or demolished vehicles, electronics, white goods and furniture.