World Steel Association: Global Steel Demand to Rebound 2.3% in 2023

SHANGHAI, Apr 19 (SMM) - The World Steel Association released the latest version of its short-term (2023-2024) steel demand forecast report on April 18. The report shows that global steel demand will rebound by 2.3% to 1,822.3 million mt in 2023, and by 1.7% to 1,854 million mt in 2024. Manufacturing is expected to lead the recovery in steel demand, but high interest rates will still cause steel demand to come under pressure. Steel demand is expected to accelerate in most regions next year, but China will see a deceleration in steel demand.