US Steel Prices Have Hit Bottom - Steel Dynamics CEO

Steel Dynamics CEO Mr Mark Millett says the steel market is at an inflection point and that the industry will see upward momentum in the next month. According to Bloomberg, Millett told the virtual SMU Steel Summit that he sees warehouse construction staying strong through 2020 and into 2021 as consumers move toward more online purchasing, underpinning metal demand.

US Steel CEO David Burritt told the same group earlier this week that the tubular market may be near a bottom, and he expects a slow recovery to begin in 2022. Even with a coronavirus vaccine a 2021, Burritt expects an uneven recovery and that US Steel must stay nimble through the year.