“If it’s a good economy, if people are out buying washing machines, they’re buying cars, they’re buying houses and building commercial buildings,” said Mike Barnett, president of Grand Steel Products, a steel service centre based in Wixom, Michigan. “That’s really good for us.”
American steel executives say they’re optimistic that demand for the industrial material will rebound next year, recovering from the lackluster demand and low prices that have hobbled the industry in 2024.
Many industry leaders who gathered at the SMU Steel Summit in Atlanta earlier this week said they have high hopes in 2025. They see a turnaround fueled by an improving US economy, as large infrastructure projects get built and interest rate cuts encourage consumer spending.
