Economy to cap ’08 demand as steel costs rise, WSD says

Dec 03, 2007 | 02:48 PM | Ben Garside

A slowdown in the global economy is likely to hit world steel demand in 2008, which may grow at a far slower rate than in recent years, according to World Steel Dynamics Inc. (WSD) managing partners Peter F. Marcus and Karlis M. Kirsis.

The International Iron and Steel Institute's October forecast of 6.8-percent growth in apparent steel demand in 2008 is "probably not achievable," the analysts said at the 5th Steel Success Strategies Europe Conference in Paris hosted by WSD and AMM sister publication Metal Bulletin. "For the first time since 2001 there could be global apparent steel demand of less than 4 percent compared to average growth of 7.8 percent in recent years."....

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