Global steel demand growth to slow in 2018 after strong 2017 – worldsteel
Global steel demand growth is expected to slow to 1.6% next year following strong growth in 2017 that was driven by top consumer China, the World Steel Association (worldsteel) said on Monday.
"The risks to the global economy ... have to some extent abated. We see the best balance of risks since the 2008 economic crisis," worldsteel said in a statement.
It added, however: "In 2018 we expect growth to moderate, mainly due to slower growth in China."
Global steel demand will reach 1.65-billion tonnes next year, after hitting 1.62-billion tonnes this year, worldsteel said. The 2017 figure corresponds to nominal growth of 7% and underlying growth of 2.8%.
China this year closed most of its outdated and in many cases illegal induction furnaces, a category not previously captured in official demand statistics, hence the one off effect on nominal versus underlying demand.
Worldsteel expects steel use in China to reach 765.7-million tonnes this year and next. The 2017 China figure corresponds to nominal growth of 12.4% this year and underlying growth of 3%, worldsteel said.
Next year, however, China's steel demand growth will be flat.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation