World Steel Association Revises Demand Forecast Upwards
04/21/2017 - Global steel demand is expected to rise 1.3% this year to an estimated 1.54 billion metric tons, according the latest short-range outlook from the World Steel Association.
The association’s latest estimates are an improvement over its previous six-month forecast, which had pegged global demand growth at 0.5%.
“In 2016, steel demand recovery was stronger than expected with the upside mostly coming from China. We believe in 2017 and 2018 we will see a cyclical upturn in steel demand with a continuing recovery in the developed economies and an accelerating growth momentum in the emerging and developing economies,” T.V. Narendran, chairman of the association’s economics committee, said in a statement.
“We expect that Russia and Brazil will finally move out of their recessions,” he said.
You can find the association’s full forecast here.
