SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on what lies ahead for steel companies in 2020 and beyond.
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The US steel market is likely to witness a slower growth rate in 2019. Prices for all products are trending downwards and all major companies are witnessing fluctuations in prices due to the escalation in the US-China trade war. Although the administration has announced to make significant investments in infrastructure to support steel consumption, it is less likely to materialize due to the US tax bill passed in December 2017.
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At SpendEdge, we understand that keeping a watch on the latest happenings in the market is crucial for companies to sustain their market share. Therefore, we have outlined recent developments in the US steel market.
US Steel Industry Outlook
Section 232 tariffs
Section 232 tariffs imposed by the US government are proving helpful for companies in the steel market. They are better able to try hands on different projects due to higher cash flows. However, falling steel prices will make it difficult for companies to sustain their market share as US steel buyers are likely to go light in steel buying.
Want to know how Section 232 tariffs help companies to sustain their market share? Reach out to our experts for detailed insights.
Demand-supply curve
The domestic demand-supply equation needs to be taken into consideration apart from analyzing price trends and tariffs. Sectors such as construction are automotive, that are the largest end consumers of steel are showing signs of moderation and US steel mills are recommended to lower output to maintain the demand-supply equation.
Analyzing the demand-supply curve is vital for companies to avoid revenue losses. Request a demo from our experts to access our web-based procurement platform for FREE.
US-China trade talks
The US-China trade talks can bring some momentum to steel prices. The infrastructure plans by the government can prove beneficial for the US steel market. Also, the investments into greenfield project by US steel companies may lift the shipment profile and bring significant cost advantages after 2020.
Still thinking how such developments will impact the US steel market. Not anymore! Request more information from our experts now!
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