The World Steel Association’s projection for 2018 is for moderate growth mainly due to the slowdown in China. Steel demand in the rest of the world should maintain its current momentum. Commenting on the outlook, Mr T.V. Narendran, Chairman of the worldsteel Economics Committee said,
“Progress in the global steel market this year to date has been encouraging. We have seen the cyclical upturn broadening and firming throughout the year, leading to better than expected performances for both developed and developing economies, although the MENA region and Turkey have been an exception… So, world steel demand is recovering well, driven largely by cyclical factors rather than structural. The lack of a strong growth engine to replace China and a long term decline in steel intensity due to technological and environmental factors will continue to weigh on steel demand in the future.”
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