Auto demand boosts US Steel's 2023 outlook
Time:Wed, 02 Nov 2022 09:15:24 +0800
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According to the forecast by US Steel, steel demand will remain under pressure for the rest of 2022. However, some conditions showed that the situation will improve in 2023, especially in the automotive industry.
US Steel estimated that total shipments in the fourth quarter might be up slightly compared to the third quarter. For the house appliance industry, shipments slowed in the third quarter due to consumer sentiment. Service centers and industrial construction are buying cautiously. The demand for the construction industry remains elastic, the tube segment produced 173,000 tons of steel in the third quarter, up by 48% year on year, and utilization rate was 76%, up by 24%.
The company emphasizes its optimism about automotive industry demand, which will increase steel demand in 2023.
