World steel use to grow, US key driver

Apr 18, 2011 | 03:55 PM | Scott Robertson

Tags  Worldsteel, Novegil, Applebaum, Danjczek, apparent steel use, China, economy

PITTSBURGH — Apparent steel usage will continue to grow worldwide in 2011, but at less than half the rate of 2010, according to a short-range outlook on steel consumption from the World Steel Association (WorldSteel), Brussels.

The United States—along with developing countries and economies, notably India and China, and those continuing to a show a steady climb out of economic recession—will drive global steel usage toward an estimated record of more than 1.4 billion tonnes in 2012.

Apparent steel use will increase to about 1.36 billion tonnes in 2011, up 5.9 percent from 1.28 billion tonnes a year earlier but about half the 2010 rate of growth of 13.2 percent. For 2012, that figure is estimated to reach a record 1.44 billion tonnes, up 6 percent year on year.

The forecast suggests that by 2012, steel use in the developed world will be about 14 percent below peak levels of 2007, but in the emerging and developing economies it will be 38 percent higher. In 2012, emerging and developing countries will account for about 72 percent of world steel demand vs. about 61 percent in 2007.....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results