SUGAR LAND--December 30, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Steel producers across the U.S. are optimistic about their 2023 prospects, despite months of economic uncertainty, lower prices and lower consumption. Fitch Ratings (New York, New York) and other analysts expect to see an incremental growth in U.S. steel consumption over the coming year.
Industrial Info is tracking $4.5 billion worth of active steel-manufacturing projects that are set to kick off across the U.S. in first-quarter 2023, about 80% of which is attributed to Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina) and its subsidiaries. United States Steel Corporation (U.S. Steel) (NYSE:X) (Pittsburgh, Pennsylvania) also is preparing to begin construction on one of its most anticipated projects.
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