Date of publication 24.08.23
Market announcement
Dear Valued Customer,
As you are aware, the Inflation Reduction Act and continued industrial growth in the US is driving demand for new steel mills, more electric vehicles, lithium mining, LNG export facilities and more. This industrial growth has generated a significant increase in demand for lime.
In anticipation of this new demand, Lhoist approved a significant capacity expansion of three new production units in Q1 of 2020. Construction was completed on all by mid-2022 and we have reached capacity on these units earlier than anticipated. We will continue to evaluate market demand to determine if additional capacity will be required.
With this push on capacity, a Lhoist Sales Representative will be meeting with you in the coming weeks to understand your demand estimates over the coming months and years to ensure proper allocation of our capacity to ensure your security of supply. Lhoist is forecasting an approximate 25% increase in pricing for 2024 for bulk products ex-works.
Thank you for your business and we look forward to continuing to deliver exceptional value to our customers.
Regards,