Steel Dynamics Expects North American Steel Consumption Will Increase — Commodity Comment

1 min read

By Stephen Nakrosis

Mark Millett, chairman and chief executive of Steel Dynamics, said the company expects North American steel consumption will increase in coming years. Millett also said the company expects “demand for lower-carbon emission, U.S. produced steel products coupled with lower imports will support steel pricing.”

On outlook:

“Based on domestic steel fundamentals, we are constructive regarding North American steel market dynamics,” Millett said.

He also said continued onshoring of manufacturing businesses, along with “expectations of significant fixed asset investment to be derived from public funding related to the U.S. Infrastructure, Inflation Reduction Act, and Department of Energy programs,” will competitively position the U.S. industry.

“We believe this will benefit all of our operating platforms, especially our steel and steel fabrication businesses,” he said.

Write to Stephen Nakrosis at [email protected]

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