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worldsteel Short Range Outlook 2017-2018

Writer:Fanny KangDate:2017-4-24 16:29

Steel recovery strengthens, but geopolitical uncertainty clouds outlook

Source:Wordsteel

The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2017 and 2018. worldsteel forecasts that global steel demand will increase by 1.3% to 1,535.2 Mt in 2017, following growth of 1.0% in 2016. In 2018, it is forecast that global steel demand will grow by 0.9% and will reach 1,548.5 Mt.

worldsteel Short Range Outlook 2017-2018

 

Commenting on the outlook, Mr T.V. Narendran, Chairman of the worldsteel Economics Committee said, “In 2016, steel demand recovery was stronger than expected with the upside mostly coming from China. We believe in 2017 and 2018 we will see a cyclical upturn in steel demand with a continuing recovery in the developed economies and an accelerating growth momentum in the emerging and developing economies. We expect that Russia and Brazil will finally move out of their recessions. However, China, which accounts for 45% of global steel demand, is expected to return to a more subdued growth rate after its recent short uplift. For this reason, overall growth momentum will remain modest.

 

TypeInfo: Industry News

Keywords for the information:Steel  steel recovery  China steel