North American steel, aluminum executives expecting modest growth in coming years: survey

"This year's outlook survey draws some very interesting conclusions from senior sector executives, including an expectation for the return of inflation and higher taxes, a near-term correction in steel and aluminum prices, and the potential near-term elimination of the Section 232 import protections," Peter Scott, managing partner of Headwall Partners said in a statement.

According to the results, 55% of respondents expect a 9% or greater increase in revenue in 2021 over 2020, marking the highest one-year growth expectation in the history of the survey, likely resulting from the pandemic, Headwall noted.

Respondents are expecting to see no real change, or a modest increase in steel and aluminum imports in 2021, with 54% of respondents expecting the Biden administration to remove the Section 232 tariffs on steel and aluminum within the next year.