Global steel use is expected to grow 3.1 percent this year, up from two percent last year and to expand 3.3 percent in 2014, industry experts said here Monday.

A report released by The World Steel Association, which groups 170 steel producers, said global use should rise to 1.475 billion tons, up up 3.1 percent following growth of two percent last year.

It forecast a 3.3. percent expansion to 1.52 billion tons in 2014.

"Major emerging economies, particularly India and Brazil, have not performed as hoped mainly due to key structural issues. These factors have led to a lower steel demand performance than predicted across the world, with China being the one exception," said Jurgen Kerkhoff, chairman of the Worldsteel Economics Committee.

"In 2014, we expect to see continued recovery in global steel demand with the developed economies overall returning to positive growth. At the same time we expect slower growth in China," he added.

"The industry is going through a very difficult phase," Association director general Edwin Basson told AFP.

"Demand in many parts of the world has grown much slower than anticipated and at the same time we see that output conditions, in terms of productivity, are also difficult in many parts of the world," he added.

According to industry data, steel demand in China will grow six percent this year, but only three percent in 2014. In the United States, demand will rise only 0.7 percent this year after a 7.8 percent growth last year.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel