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Global demand to rise as much as 3%: Mittal

Keywords: Tags  ArcelorMittal, Lakshmi Mittal, WorldSteel, World Steel Association, steel, steel demand, Alexandra Chapman

LONDON — The coming year should see global steel consumption rise as much as 3 percent, ArcelorMittal SA chairman and chief executive officer Lakshmi Mittal said Jan. 11.

"Global steel demand will increase by approximately 2 to 3 percent in 2013," the Luxembourg-based company’s top executive said at the AGH University of Science and Technology in Krakow, Poland, where he was receiving an honorary doctorate.

The increase would primarily be due to "the expansion of markets in the (United States) and also in emerging markets," local media quoted Mittal as saying.

Such predictions aren’t unusual despite ongoing negative sentiment in the steel market, analysts told AMM sister publication Steel First.

"Mittal’s predictions fall in line with the World Steel Association (WorldSteel) forecast," a European analyst said.

"In October, WorldSteel predicted a growth in global steel demand of approximately 2 percent," he added. "As far as Europe is concerned, given the magnitude of the drop in steel demand in 2012 it is fair to assume that growth will happen in 2013."

Global crude steel production rose 5.1 percent year on year in November (, Dec. 20), putting total production for the 62 countries reporting to WorldSteel at 121.7 million tonnes vs. 115.8 million tonnes in November 2011.

A version of this article was first published by AMM sister publication Steel First.

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