WORLDSTEEL BRUSSELS: Global steel demand to rise 7% in 2017

Global finished steel demand is forecast to grow by 7% this year, the World Steel Assn (Worldsteel) said on Monday October 16 at its annual conference in Brussels, Belgium.

Global steel demand is forecast to be 1,622.10 million tonnes in 2017, followed by a 1.60% rise to 1,648.10 million tonnes in 2018, Worldsteel said in its short-range outlook.
The forecast for finished steel demand in China is 765.70 million tonnes in 2017, up sharply from 681 million tonnes in 2016.
“With the closure of the most of China’s outdated induction furnaces in 2017, the demand from this sector of the market is now satisfied by mainstream steelmakers,” Worldsteel said.

Finished steel demand is forecast to remain stable year-on-year in China at 765.70 million tonnes in 2018, “as the [Chinese] government resumes and strengthens its efforts on...

Published

Viral Shah

October 16, 2017

12:32 GMT

Brussels