SHANGHAI Steel demand in China is expected to increase 3.1 percent in 2013, up from 2.5-percent growth in 2012, according to the China Iron and Steel Association (Cisa).
Chinas economy is recovering after the central government in Beijing introduced a series of policies to maintain stable growth, but steel prices will still be volatile as demand improves, Cisa said. "Steel demand this year will be better than last year, but overcapacity and oversupply problems have no obvious improvement and steel prices will find it hard to rise significantly."
The countrys crude steel output totaled a record 716.5 million tonnes last year.
Worldwide steel demand is forecast to rise 3.2 percent in 2013, according to the Brussels-based World Steel Association.
A version of this article was first published by AMM sister publication Steel First.