Moody's: U.S. Steel Market is 'Stable'
09/08/2017 - Credit ratings agency Moody’s has given the U.S. steel industry a stable forecast over the next 12 to 18 months on improved capacity utilization, higher prices and better demand in some end markets.
"Prices have risen on increased demand across several end markets and increasing raw material costs, but further upward momentum is constrained with rising import levels," said Moody’s senior vice president Carol Cowan.
Moody’s said it believes rated U.S. steelmakers will post revenue growth of 15 to 20 percent this year, but it expects growth to slow in the second half.
“This reflects the slowdown in key markets and the likelihood that activity among oil and gas and automakers has peaked. Moreover, steelmakers’ operating performance improvement in 2017 will vary by end-market exposure and operating efficiency,” Moody’s said.
You can read Moody’s full statement here.
