The World Steel Association released the latest 2017-2018 short-term steel demand forecast for October 2017. It is predicted that global steel demand in 2017 will reach 1.6221 billion tons, 2018 global steel demand will reach 16.481 billion tons.
World Steel Association predicted that in 2017 the world’s steel demand except China will grow 2.6% to 854.4 million tons, growth of 3.0% to 8.882 billion tons in 2018. China’s steel demand is expected to grow by 3% in 2017 and global steel demand increase 2.8%.
“This year, the global steel market continued to improve, cyclical rebound continued to strengthen make the steel market in developed and developing economies to outperform expectations, while the Middle East and North Africa and Turkey’s steel market is still relatively weak.” said TV Narendran, chairman of the World Iron and Steel Institute’s Market Research Council. The World Steel Association pointed out that in 2018, China’s steel demand growth slowed down, the economic restructuring continued to deepen and introduce more stringent environmental protection measures will curb the demand for steel It is predicted that China’s steel demand in 2018 is unlikely to grow year on year.