Strong demand for steel in the US may persist for another 2 years

According to the latest financial report of Steel Dynamics, Inc., one of the leading steel producers in the United States, it showed that domestic demand for hot rolled metal (HRC) in the United States has remained high lately, not only in 2021, but also in 2022.

However, with some of the US steel mills still underway, the market predicted HRC shipments over the next few months were still tight and could further push prices up.

The situation with significant demand for HRC occurred not only in the US, but also in China and the EU, which was the main reason why imports of HRC could not alleviate the domestic supply deficit in the US.

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