World steel association revises global steel use forecast higher

Industry News 10:33:52AM Oct 08, 2013 Source:SMM

Mon, 7 Oct 13:38:00 GMT

By Silvia Antonioli and Freya Berry

LONDON, Oct 7 (Reuters) - Global steel consumption is expected to exceed previous forecasts this year and next, a report by industry body the World Steel Association said on Monday.

Global steel use is expected to grow by 3.1 percent to 1.475 billion tonnes in 2013, up from an April forecast of 1.454 billion tonnes, the report said.

In 2014, the figure is expected to increase 3.3 percent to 1.523 billion tonnes, slightly above April's forecast of 3.2 percent.

The association expects China steel consumption to grow by 6 percent in 2013 and 3 percent in 2014, to 700 million tonnes and 721 million tonnes respectively.

By contrast, developed economy demand is predicted to shrink by 1.6 percent this year to 384 million tonnes this year before picking up by 1.7 percent to 390 million tonnes in 2014.


(Reporting by Silvia Antonioli and Freya Berry, editing by William Hardy)

((silvia.antonioli@thomsonreuters.com)(+44)(0)(20 7542 1755)(Reuters Messaging: silvia.antonioli.reuters.com@reuters.net))

 

Key Words:  STEEL OUTPUT  

World steel association revises global steel use forecast higher

Industry News 10:33:52AM Oct 08, 2013 Source:SMM

Mon, 7 Oct 13:38:00 GMT

By Silvia Antonioli and Freya Berry

LONDON, Oct 7 (Reuters) - Global steel consumption is expected to exceed previous forecasts this year and next, a report by industry body the World Steel Association said on Monday.

Global steel use is expected to grow by 3.1 percent to 1.475 billion tonnes in 2013, up from an April forecast of 1.454 billion tonnes, the report said.

In 2014, the figure is expected to increase 3.3 percent to 1.523 billion tonnes, slightly above April's forecast of 3.2 percent.

The association expects China steel consumption to grow by 6 percent in 2013 and 3 percent in 2014, to 700 million tonnes and 721 million tonnes respectively.

By contrast, developed economy demand is predicted to shrink by 1.6 percent this year to 384 million tonnes this year before picking up by 1.7 percent to 390 million tonnes in 2014.


(Reporting by Silvia Antonioli and Freya Berry, editing by William Hardy)

((silvia.antonioli@thomsonreuters.com)(+44)(0)(20 7542 1755)(Reuters Messaging: silvia.antonioli.reuters.com@reuters.net))

 

Key Words:  STEEL OUTPUT