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SDI expects North American steel consumer demand to increase this year

25 Apr 2024 16:57 reported by Ranny Fang

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US steelmaker Steel Dynamics Inc (SDI) expects North American steel consumption to increase this year, with multiple end-user markets supporting demand growth and pricing.

After slow growth at the beginning of the year, market conditions improved towards the end of the first quarter. SDI steel mills and manufacturing operations will likely boom as government investment shifts toward steel-intensive construction projects.

North American steel consumption will increase in 2024, and demand for low-carbon, U.S.-produced steel products, as well as reduced imports, will support steel prices. The rapid deployment of the new production line enables SDI to provide more high-demand coating products.

The company has started commissioning and operating four new value-added sheet coating lines. SDI will fully benefit from the additional 1.1 million tons of value-added steel products in the second quarter of this year and 2025.

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