9,347.17 TL BIST 100 BIST 100
4.34 CNY CNY CNY
31.06 $ USD USD
€33.62 EUR EUR
0.13 CNY CNY/EUR CNY/EUR
43.42 TL Interest Interest
83.25 $ Fossil Oil Fossil Oil
22.62 $ Silver Silver
3.88 $ Copper Copper
121.11 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,023.50 TL Gold (gr) Gold (gr)

Gerdau expects strong steel demand in the US and mild growth in Brazil through 2023

Brazilian steelmaker Gerdau hopes that demand for steel in the US will still remain high in 2023.

Gerdau expects strong steel demand in the US and mild growth in Brazil through 2023

Brazilian steelmaker Gerdau hopes that demand for steel in the US will still remain high in 2023, despite fears that financial markets may fall into recession due to US interest rate hikes.

Gustavo Werneck, president of Gerdau, said some fundamentals of the US economy remain very strong, for example the labor market is still very hot and his company is having trouble filling open positions.

Gerdau US Unit expected the slowdown in US activities to be alleviated by the investment packages announced by the Joe Biden government.

On the other hand, Gerdau Brazil unit expected a slight growth in steel demand in the country until 2023.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

South Korea increased its crude steel production in January

Saturday, February 24, 2024

Nippon Steel's bid to acquire US Steel has ignited national security debates in the US

Saturday, February 24, 2024

NLMK Europe announced the partnership with Askon Demir Çelik

Saturday, February 24, 2024

The US imposes sanctions on 93 entites, including Türkiye: Here are 16 targeted companies from Türkiye

Saturday, February 24, 2024

Iron ore prices in decline: Abundant supply and weak demand continue to pressure

Saturday, February 24, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now