U.S. Steel Corp and AK Steel Holding Corp expect better performance along with recovery of global economy and steady low cost of raw materials such as coal and iron ore.
The global steel demand is expected to rise 3.2% compared with the figure in 2012, World Steel Association said in October.
China is believed to consume the most. Meanwhile, steel buyers in North America remain cautious earlier this year but recent increases in daily orders indicates the quarter progresses, said U.S. Steel Chief Executive, John Surma on Tuesday.
Meanwhile, the construction markets are showing signs of improvement, while the automotive, energy and heavy equipment sectors remain the strongest end-market.
U.S. Steel reported a net loss of US$50 million, or 35% per share on revenue of US$4.49 billion. Excluding items, the loss was 41% per share. AK Steel also reported a net loss but count on better outlook at first quarter and full-year 2013.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62842&division=A6
