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The domestic demand forecast was cautiously optimistic, according to market sources, led by stronger increased spending for the infrastructure market.

In the week ending on December 31, 2022, US domestic raw steel production was 1,602,000 net tons while the capability utilization rate was 71.8 percent.

Finished Import Market Share YTD at 24%

In November alone, production of finished steel reached over 1.82 million tonnes.

Finished Import Market Share Estimated at 23 Percent in December.

US hot rolled coil (HRC) spot prices moved down as the market remained quiet due to the Christmas holiday.