- In the US, as real demand growth is expected to remain lackluster due to the lagged impact of interest rate rises, apparent steel consumption in 2023 is now expected to decline by -2.0% to 0.0% (versus previous guidance of +1.5% to +3.5% growth).
- In Europe, whilst the Company continues to assume a marginal decline in real demand in 2023, apparent demand is expected to moderate to -0.5% to +1.5% in 2023 (versus previous guidance of +0.5% to +2.5%).
- In Brazil, due to the ongoing high interest rate environment, the Company has moderated its real steel consumption estimate in 2023 and now forecasts an ASC growth of 0.0% to +2.0% (revised down from the previous guidance of +3.0% to +5.0%);
- In the CIS region (which includes Commonwealth of Independent States and Ukraine), the Company forecasts some improvement in steel consumption in Ukraine, and now expects ASC to grow 0.0% to +2.0% (revised up from the previous guidance of -2.0% to 0.0%) for the region;
- In India, the Company continues expects another strong year with apparent steel consumption growth in the range of +6.0% to +8.0% (unchanged from the previous guidance of +6.0% to +8.0%)
Chewy Gains New Customers, Heads For A Positive Inflection, Says Bullish Analyst
Shares of Chewy Inc (NYSE: CHWY) rose in early trading on Wednesday, after being a heavily shorted stock last month.
