For all the talk of recession, steel demand in some key markets is showing signs of perking
up.
ArcelorMittal forecast consumption in Brazil to
double within a decade as the nation tries to fill a huge need for
infrastructure, and
Holdings Inc., the biggest Canadian
producer, said prices have bottomed following the biggest decline since at least
the Great Recession.
The comments from executives signal glimmers of
hope for an industry that depends on demand for building everything from
skyscrapers and automobiles to washing machines and tractors. It also offers
some optimism for the broader economy that’s been battered by a downturn in
China’s vast real estate sector, persistent semiconductor supply-chain issues that have slowed auto production, and
an energy crisis in Europe and China that threatens to hobble manufacturing.