Worldwide steel demand expected to grow by 3.9 % in 2018

by David Fleschen

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Worldwide steel demand is expected to grow 3.9% this year on the underlying health of developed and emerging economies, according to the World Steel Association.

In its latest short-range demand forecast, issued on Tuesday, the association predicts finished steel demand will rise to nearly 1.66 billion metric tons, up from about 1.60 billion metric tons in 2017. It also is forecasting that demand will rise again in 2019, growing an additional 1.4% to 1.68 billion metric tons.

However, the association said that while economic momentum from 2017 carried forward into 2018, rising uncertainties could slow growth.  

“Rising trade tensions and volatile currency movements are increasing uncertainty. Normalization of monetary policies in the U.S. and EU could also influence the currencies of emerging economies,” it said.

Source: Steel News, photo: fotoalia

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