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| TITLE |
Steel Consumption To Rise By 28 Percent To 2011 |
| WRITER |
administrator |
DATE |
2008-01-17 13:25:16 |
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STEEL CONSUMPTION TO RISE BY 28 PERCENT TO 2011
08.01.2008
The appetite for steel continues unabated. World steel demand is forecast to reach over 1.45 billion tonnes in 2011. This represents a 320 million tonne hike on the outturn in 2006 and a massive 88 percent (680 million tonnes) leap in the ten years from 2001. We do, however, predict a slowdown in the rate of growth towards the end of the current decade.
Global finished steel consumption in 2007 is expected to expand by 7.1 percent, year on year. A further 21 percent increase is anticipated over the period to 2011.
Asia will lead the way - consuming two thirds of the extra world steel output in the five years from 2006. Significant gains are also anticipated in the other emerging nations. Consumption growth of almost 20 percent is expected in the former USSR. A massive 50 percent rise is forecast for Africa/Middle East. More than 40 percent is predicted for China. In Asia (excluding China and Japan) the figure is likely to be almost 30 percent.
In the mature economies of the industrialised nations the growth rate will be modest. In 2000 these consumed almost 50 percent of the global requirement. By 2006 the figure had dropped to around 33 percent. In 2011 we anticipate it falling to near 27 percent of the world total.
Source: Global Iron & Steel Production to 2011 - A new report from MEPS (International) Ltd.
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