Insight
US 2020 steel outlook: is infrastructure the ''wild card'' in the deck?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The coronavirus crisis is also taking a toll across the US steelmaking industry. Since the beginning of the virus spread, major producers such as AK Steel, ArcelorMittal and US Steel have all announced capacity closures which together total almost 10 Mtpa. This translates to about 8% of US’ overall crude steel capacity and represents the largest cutback in a month period since the GFC. With automotive steel demand slated to remain anaemic, we expect infrastructure to provide a much-needed breath to the steel sector. Still, we don't anticipate any gigantic investments this year. All in all, we think US’ steel demand will fall by 2% in 2020.
Table of contents
- Overview
- Automotive: inevitably down in H1. Some relief in H2?
- Infrastructure! Infrastructure! Infrastructure!
- Production to decline, but lower imports to prevent a sharper fall
Tables and charts
This report includes the following images and tables:
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Steel capacity closures announced post-coronavirus spreadAutomotive steel demand loss matrix (Mt)Auto and light truck sales index
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Construction growth/contraction scenarios and impact in total demand2019/2020 demand and production changeUS steel trade
What's included
This report contains:
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