Steel Industry Leaders in US Have High Hopes for Revival in 2025

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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.

Photographer: Sean Gallup/Getty Images --

The US steel industry has been dominated this year by Nippon Steel Corp.’s proposed takeover of United States Steel Corp., the country’s largest producer. The $14.1 billion deal, which has become a hot political issue following opposition from President Joe Biden and union workers, is driven by the Japanese company’s optimism of more growth within the US.

The Federal Reserve’s signaling of rate cuts as soon as September lifts the prospects of a turnaround for sectors that rely on steel.

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