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Demand for steel grows, led by developing economies

Demand for steel grows, led by developing economies


May 3, 2011

According to the World Steel Association's short range outlook for 2011 and 2012, steel use will increase by 5.9% to 1,359 mmt in 2011, following 13.2% growth in 2010. In 2012, it is forecast that world steel demand will grow further by 6.0% to reach a new record of 1,441 mmt.

This forecast suggests that by 2012, steel use in the developed world will still be 14% below 2007 levels, whereas in the emerging and developing economies, it will be 38% above. In 2012, the emerging and developing economies will account for 72% of world steel demand in contrast to 61% in 2007.

Full story

Source: World Steel Association

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