Global Steel Demand Will Increase Slightly To 1.814.7 Billion Tons In 2023
2023-08-12 17:43:30
World Steel Association releases short - term steel demand forecast report
In 2023, global "steel demand" will increase slightly to 1.814.7 billion tons
On October 19, the World Steel Association released its latest short-term (2022-2023) steel demand forecast report. According to the report, global steel demand will decline by 2.3% to 1,796.7 million tons in 2022 after growing by 2.8% in 2021. It will grow slightly by 1.0% to 1.814.7 billion tons in 2023.
The WSA said the revised forecast, which was made in April, reflected difficulties for the global economy in 2022 due to high inflation and monetary tightening. Still, infrastructure needs are likely to drive a small increase in steel demand in 2023.
