The institute forecast apparent steel consumption at 21.78 million tonnes next year, a 5.2% increase from the 20.71 million tonnes expected in 2019. This year’s outlook was cut from 21.66 million tonnes previously and now anticipates a 2.4% decrease from 21.21 million tonnes in 2018.
Aço Brasil had initially announced on December 5 a 6.2% growth estimate in apparent steel use for 2019
. The outlook was then slashed to 4.6% on April 25
and again to 2.1% on July 25
“The construction sector is poised to lead the steel demand recovery...