The startup of new steelmaking capacity and weaker construction activity could weigh on US sheet steel prices and keep them more rangebound in 2023, compared with the last two years, according to a panel discussion at the 2023 Tampa Steel conference in Florida.
"2023 could be a return to a more boring environment," said Timna Tanners, equity research analyst for metals and mining at Wolfe Research, during a Feb. 7 panel discussion at the 2023 Tampa Steel conference.
Tanners said she expected pricing in the steel industry to become "more rangebound," noting that she didn't see any factors justifying significant price swings in 2023.
Some factors that could temper steel sheet prices this year include growth in domestic capacity from electric arc furnaces and the impact of higher interest rates on construction activity, Tanners added.
