08 Oct 2013 Last updated at 08:17:36 GMT
SAO PAULO (Scrap Monster) : The World Steel Association has released its Short Range Outlook (SRO) for 2013 and 2014. The international industry body expects the global apparent steel use to increase by 3.1% to 1,475 Mt in 2013. Also, the association estimates the world steel demand to grow by 3.3% to reach 1,523 Mt in 2014.
According to Worldsteel, the Chinese steel demand in 2013 is forecast to grow by 6% to 699.7 Mt. However, the steel demand by the country during 2014 is expected to slow to 3%.
In India, steel demand is expected to grow by 3.4% to 74.0 Mt in 2013. In 2014, steel demand is expected to grow by 5.6%.
The Japanese steel demand may see a marginal growth of 0.1% to 64.0 Mt in 2013. However, the outlook for 2014 is less positive with demand expected to contract by 1.6%.
In the US, apparent steel use in 2013 is expected to grow by 0.7% to 96.9 Mt in 2013. In 2014, steel demand is expected to rise by 3.0%. The apparent steel usage by the NAFTA region is likely to see an improvement of 3.2% in 2013 and a further growth of 3.8% in 2014.
The apparent steel use by the EU-27 countries is expected to decline for the second straight year in 2013 by 3.8% to 134.9 Mt. However, the decline is significantly lower when compared to 9.5% decline in 2012. The apparent steel use will witness major decline in Italy, Spain and Germany. However, the steel demand may increase by 2.1% in 2014 to 137.8 Mt.
Increased demand from Russia will lift the apparent steel use by the CIS region by 3.0% in 2013 to 58.9 Mt. In Russia, apparent steel use in 2013 is expected to grow by 3.8% to 43.6 Mt in 2013. In 2014, steel demand is expected to rise by 4.6%.
In the MENA region, steel demand is expected to grow by only 1.7% to 64.3 Mt in 2013. In 2014, steel demand in the region is expected to grow by 7.3% to reach 69.0 Mt.
Author: Paul Ploumis