LONDON Global growth in
apparent steel use has been revised downward to 2.9 percent for
this year, the World Steel Association (WorldSteel) said in an
April 11 report.
This would result in the use of
1.454 billion tonnes of steel this year, down slightly from
WorldSteels October forecast of 3.2-percent growth for
2013 to 1.455 billion tonnes.
Declining expectations in Europe
contributed to the slight fall. Apparent steel use in Europe is
now expected to contract by 0.5 percent over the course of 2013
to 139 million tonnes, in contrast to a prior forecast for 2013
growth of 2.4 percent to 148 million tonnes.
But this is almost entirely
offset by higher growth forecasts in such regions as the Middle
East-North Africa (Mena) and the so-called Bric nations
(Brazil, Russia, India, China).
Chinas apparent steel use
is now seen growing 3.5 percent to 669 million tonnes for 2013,
up slightly from the prior forecast of 3.1-percent growth to
640 million tonnes.
But Chinese growth is seen
slowing in the next few years, as the number of coastal Chinese
infrastructure projects "level off," WorldSteel director
general Edwin Basson said.
The coastal regions of China are
home to the majority of the countrys population.
Global steel use for 2014 is
forecast to grow 3.2 percent to 1.5 billion tonnes,
Brussels-based WorldSteel said.
"We now expect a recovery in
global steel demand to kick in by the second half (of 2013),
led by the emerging economies," Hans Jürgen Kerkhoff,
chairman of WorldSteels economics committee, said.
A version of this article was first
published by AMM sister publication Steel