Economy
April 30, 2018
WSA: Global Steel Demand to Top 1.6 Billion Tons
Written by Peter Wright
Global steel demand will reach 1,616.1 million tons in 2018, an increase of 1.8 percent over 2017, estimates the World Steel Association in its spring Short Range Outlook. In 2019, WSA forecasts global demand will grow by 0.7 percent to 1,626.7 million tons.
“In the next couple of years, the global economic situation is expected to remain favorable with high confidence and strengthening recovery of investment levels in advanced economies” commented WSA Chairman T.V. Narendran. “Benefitting from this, steel demand in both developed and developing economies is expected to show sustained growth momentum with risks relatively limited. However, possible adverse impact from rising trade tensions and the probable U.S. and EU interest rate movements could erode this current momentum.”
