Commodities
U.S. Steel Optimism for 2023 Tempered by Lingering Recession Worry
- Company sees demand accelerating as tailwinds seem to grow
- CEO warns of a potential mild recession in back-half of year
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All signs point to an improvement for the American steel industry in 2023, but steelmakers can’t help but keep warning investors that a recession is possible in the second half of the year.
U.S. Steel Corp., one of the largest domestic producers, said it’s optimistic about demand and noted that sentiment turned positive to kick off the year. But Chief Executive Dave Burritt offered a soft warning to investors that there could be a mild recession later this year.