|Central & South America||46|
|Middle East & Africa||93|
|Asia & Oceania||1304|
Determinations above are finished steel product demand estimates for 2023 in millions of metric tonnes. Source: worldsteel and MCI calculations.
|Steel shape||Demand, mt|
Calculations are indicative finished steel demand assessments for 2023. Tube data includes welded and seamless tube. For chart, see below. Source: MCI deliberations.
Demand estimates by shape indicate estimated global steel use analysed by flat products [including plate, hot rolled coil and sheet, cold rolled and coated sheet such as HDG and tin plat], long products [including rail, heavy and mediumsections, merchant bar, rebar and wire rod] and tube [welded pipe and seamless tube]. Figures are demand analyses prepared by Metals Consulting International for year 2023.
|Construction incl structural & building work||891|
|Other transport incl shipbuilding & rail||64|
|Oil & gas exploration & transport||115|
|Other industries / miscellaneous||34|
Further analytical information including more detail by product type is available for purchase. Please contact MCI. All 2023 product demand figures have been compiled by MCI.
Demand estimates by sector are indicative of global 2023 steel demand. Construction includes structural and building work. Mechanical engineering includes machinery & equipment and components; as well as heating, ventilating and air conditioning (HVAC) markets. Automotive sector includes passenger vehicles and light commercial vehicles. Other transport includes shipbuilding (covering container ships, dry cargo ships, LPG carriers, tankers, passenger ferries) as well as rail, buses and heavy vehicles. Metal products include furniture, fasteners, wire products, containers, drums and boxes. Defence estimates are based on MCI assumptions concerning steel use for submarines, frigates, destroyers, tanks, and other military market uses. Tubes include welded and seamless. Figures are MCI estimates of steel end-use by application for year 2023 total steel consumption.
For a more comprehensive analysis of steel demand applications, see 2022 research article on global iron and steel mass flow published by L.D. Danny Harvey.
|Steel quality||Demand, mt|
Data above are from MCI analysis of steel use by grade for 2023. Engineering steels are often also referred to as SBQ steels (special bar quality steel); these are steels that typically move or rotate whilst in use. Global melt shop production of stainless steel in 2023 is estimated at ~57 mt.
Annual figures to 2023 inclusive are consistent with various World Steel Association [worldsteel] assessments. 2024-2026 figures are conservative MCI forecasts. All figures are millions of metric tonnes of finished steel.
This page was last updated on 9th July 2023.
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