Steel industry leaders in US have high hopes for revival in 2025
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American steel executives express optimism for a demand rebound in 2025; driven by an improving US economy and large infrastructure projects; Mike Barnett, president of Grand Steel Products, highlights consumer spending as a key factor; Nippon Steel Corp's proposed US$14.10 billion takeover of US Steel Corp faces political opposition; steel demand in H1 2024 was 50.9 million tons, down 0.4% from last year; US steel futures down 37% since January; Federal Reserve signals potential rate cuts; Biden's Infrastructure and Investment Jobs Act of 2021 allocates US$550 billion for steel projects; CRU analyst Alexandra Anderson warns of challenges with new steel capacity; US raw steel production rose 1.1% in 2023 to 89.7 million net tons; ongoing trade issues with cheap foreign steel and global price slumps; US presidential election could impact investor sentiment.
#SteelIndustry #UsEconomy #Infrastructure #NipponSteel #UsSteel #BidenAdministration #MarketOutlook #TradeIssues #PresidentialElection #ConsumerSpending
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