In today's Times:

Demand Rises, but Will U.S. Manufacturing Rebound?. Prices of industrial commodities are rising swiftly, but U.S. manufacturing jobs are still on the decline. By Jonathan Fuerbringer. [New York Times: Business]

The answer to the question is: U.S. manufacturing may rebound, but there won't be many jobs created in the process. With even high-skill jobs being moved overseas, and major manufacturers outsourcing more and more of their labor-intensive processes. They're all about efficiency, and maximizing their margins in a low-margin business.

My prediction–we'll see prices go way up before manufacturers start to up production here; they'll let demand get red-hot before they add to the supply. And as much of that increase in production as possible will be pushed off on overseas outsourcers, while America becomes more and more a nation of Wal-Mart associates.