DOHA, Qatar Spanish steelmaker Celsa Group expects the global long products market to improve in 2013, largely due to growth in developing countries, a company executive said March 4.
Emerging markets are expected to grow in the coming year, Kim Marti Subirana, international commercial director at Barcelona, Spain-based Celsa, told delegates at the International Rebar Exporters and Producers Association (Irepas) meeting and SteelOrbis conference in Doha.
"We need to be optimistic that 2013 will be better than 2012, with developing economies in the driving seat: the Middle East-North Africa (Mena) region, Asia, Central and South America," he said. "Following a slowdown in the second half of 2012, it now looks like (the long products market) will regain momentum in 2013."
Although the market grew 5.8 percent year on year in 2012, the Celsa executive said, the European market shrank by 9.6 percent compared with 2011.
"Rebar was the big winner in the (2012) long product consumption mix," Subirana said. "This was owing to good construction activity in emerging and developing countries, powering 9.8-percent growth (vs. 2011)."
However, a lack of demand in the construction sector weighed on the European rebar market, in which consumption fell 8.4 percent year on year.
"Rebar consumption continues to move from advanced to emerging markets," Subirana said.
European sections consumption dropped 12.1 percent year on year, largely due to falling investment in the region. European markets for merchant bar and wire rod also fell 9.4 percent and 6.6 percent, respectively.
A version of this article was first published by AMM sister publication Steel First.