Our Insights blog goes deeper into hot topics and critical world issues. Looking for more? Learn about how we integrate data and expert visualization services with our intelligent tools, custom situation rooms, and enterprise data portals.
The World Steel Association (worldsteel) publishes a “Short Range Outlook (SRO)” twice annually. The SRO shows current year steel demand and forecasts demand for the next two years, covering the world, major regions, and the largest steel consuming countries.
Note on China:
China closed most of its outdated induction furnaces in 2017, a category which was generally not captured in official statistics. With closure of the induction furnaces, the demand from this sector of the market is now satisfied by mainstream steel makers and therefore captured in the official statistics in 2017. Consequently, the nominal growth rate for steel demand in China increased to 8.3% or 736.8 Mt. Disregarding this statistical base effect worldsteel expects that the underlying growth rate of China’s steel demand for 2017 will be 3.0%, which will make the corresponding global growth rate 2.4%.