NEW DELHI, INDIA, January 01, 2009
/24-7PressRelease/ -- The US primarily depends on steel imports to fulfill its demand as domestic production remains insufficient to fulfill domestic demand. And according to Our new research report, "US Steel Industry Outlook", with inventories at low levels at the beginning of the year 2008 and sharp increase in price by domestic mills, the US will remain a hot export destination for low cost economies in near future.
According to the report, the impact of slowing economy is clearly visible on the US steel industry. Crude steel production in the country declined by 0.4% to 98.2 Million Metric Tons whereas crude steel consumption slipped radically by 4.6% reaching an estimated 123 Million Metric Tons in 2007. Though the consumption fall significantly, the production level is still not sufficient to match up the demand. This has further widened the demand-supply gap in the country, making it more reliant on imports to fulfill its domestic demand.
From future perspective, crude steel consumption in the US is forecasted to reach 125 Million Metric Tons in 2009. Steel consumption will be largely driven green & clean energy-related infrastructure because there is huge investment in pipeline in wind, solar and nuclear energy by the US government. In contrast to consumption, its production will only reach 101 Million Metric Tons in the same year. To fill the gap, the country will have to import more steel from other countries.
"US Steel Industry Outlook" contains unique market-based research and provides thorough and prudent analysis on the US steel Industry. It provides extensive statistical and analytical outline on the US Steel industry and gives past, present and future data on its structure, composition and working. The research study intensively discusses the new avenues and challenges that are anticipated to stem both within and from the US steel industry in future.
The research also provides forecast on major industry parameters and help clients in identifying critical opportunities to leverage from.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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