Amid Recession Worries, Steelmakers See Some Signs of Recovery

Still, within the gloom there are bright spots. Deere cited problems keeping up with orders, and Stelco said its books are again filling up across the Americas. Fellow steelmakers Cleveland-Cliffs Inc. and Steel Dynamics Inc. said that carmakers can’t get enough chips to produce enough vehicles to meet consumer needs. Construction, while currently weak, could be on the verge of getting a boost as soon as early 2023 from the US infrastructure bill, said Ken Simonson, chief economist for the Associated General Contractors of America.