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 ArcelorMittal SA Expects Steel Demand to Rebound This Year Due to an Economic Recovery and a Rebuilding of Inventories in the Firm's Key Markets, ArcelorMittal SA sees steel demand rising as the cycle turns.

The business said in a statement on Thursday that after declining in several important places last year, apparent consumption of steel outside of China is expected to rise by 2% to 3% in 2023. Both the demand for steel in Europe and the US is expected to increase as consumers top off their inventories.

Aditya Mittal, the chief executive officer of ArcelorMittal, stated in a statement that "as we go forward, data shows that the customer destock we observed in the second half of 2022 has peaked, providing support to apparent steel consumption and steel spreads."

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