The US steel industry offers new opportunities for Basque companies in advanced production and decarbonization

Despite customs barriers and market consolidation, the report highlights two promising areas: the production of high value-added steels and the industrial decarbonization.

United States It is the fourth largest steel producer in the world, with 81,3 million tons per year, only behind China, India and Japan. Sectors such as construction (44%) and the automotive industry (28%) are the main consumers of this material in the country. However, global overproduction, led by China, has increased imports into the US market, which has motivated the implementation of tariff measures by both the administration and the US. Trump as for that of Biden. Despite these barriers, the study of BasqueTrade He stressed that “investment in advanced steels and decarbonisation offer great opportunities for Basque companies”.

The US private sector is investing in new facilities to manufacture electrical and high-strength steels, aligning with President Biden's policies, which favor the production of electric vehicles and the modernization of the electrical grid. These initiatives open the door to the export of technologies and high value-added products from the the Basque Country.

Furthermore, the growing demand for "green steel" is another area of interest. Large producers such as Nucor, Cleveland-Cliffs and US Steel are committed to reducing their greenhouse gas emissions, which represents a unique opportunity for Basque companies that offer innovative solutions in the field of industrial sustainability.

In conclusion, BasqueTrade sees a favorable horizon for Basque companies in the American steel market, especially in niches linked to innovation and sustainability.