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Wednesday, October 8, 2014

Minor growth expected in the global use of steel

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The use of steel on global scale is expected to rise up to 1,562mt this year, reports the World Steel Association.

The above rise is expected to go up to 2% as compared to the use of the previous year. The growth in steel was 3.8% in 2013. This growth as recorded for this year is 4% for developing countries. It may remain up to 1.7% in developing countries including China.

In India the demand of steel may rise up to 76.2mt with a growth rate of 3.4% in 2014 while this growth was 1.8 % in 2013. In 2015, the growth is expected 1% with demand of 748.3mt. It may go up to 754.3mt with 0.8% growth in 2015.

In America the demand for steel may rise up to 102.2mt with growth rate of 6.7%. It is expected to remain 1.9% in 2015. In European countries, the demand for steel is expected to go up to 145.9mt with a growth rate of 4% in 2014.

Key Words: steel, demand, growth

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