The World Steel Association (worldsteel) today released its April 2012 short range outlook (SRO) for 2012 and 2013.
The Association forecasts that apparent steel use will increase by 3.6% to 1,422 mt in 2012, following 5.6% growth in 2011.
In 2013, it is forecast that world steel demand will grow further by ~4.5% to reach a new record of 1,486 mt.
Within these estimates, China's apparent steel demand in 2012 is expected to increase by ~4% to 648.8 mt following 6.2% growth in 2011. In 2013, Chinese steel demand will again grow by ~4% as the economy enters a less steel intensive growth phase, with the government's efforts to rebalance the economy and contain the real estate bubble. This forecast brings China's apparent steel use in 2013 to 674.8 mt.
Moreover, India is expected to resume its high growth trend after sluggish growth in 2011. In 2012, India's steel use is expected to grow by ~6.9% to reach 72.5 mt. In 2013, the demand growth rate is forecast to accelerate to 9.4% on the back of urbanisation and surging infrastructure investment.
For full demand forecast, see attachment.Back to Knowledge Base Index