In 2019 global steel demand is forecast to grow 1.4% to reach 1,681.2Mt.
Chairman of the worldsteel economics committee and CEO Emirates Steel, speaking at the World Steel Association General Assembly in Tokyo and says that in 2018 global steel demand continued to show resilience supported by the recovery in investment activities in developed economies and the improved performance of emerging economies.
In 2019 the market will grow of 1.4% globally. In the developed world, steel demand remains healthy, but growth will be moderate: worldsteel estimates that demand will increase by 1% in 2018 and 1,2% in 2019.
In European Union, steel demand will continue its broad recovery at a reduced pace. While the economic fundamentals of the EU economy remain relatively healthy, according to worldsteel, steel demand in 2019 will show some deceleration over 2017-18 growth and this is due to global trade uncertainty.
In Japan, steel demand will remain stable thanks to supportive factors on investment and the India’s steel demand is expected to revert to a higher growth track, supported by improving investment and infrastructure programmes, but government finances and corporate debt weigh heavily on the outlook.
In Latin America steel demand is continuing its second year of recovery backed by positive developments in the domestic and globally economy. In Brazil, demand continues its stable recovery this year and this is expected to continue into 2019.
In the emerging economies, steel demand is expected to grow 3.2% and 3.9% in 2018 and 2019 respectively. Steel demand in developing Asia (excluding China) is expected to increase by 5,9% and 6,8% in 2018 and 2019 respectively.
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