The World Steel Association expects further growth in steel demand in 2022. WorldSteel CEO Edwin Basson said global steel demand will grow 2.2% this year to reach a record 1.9 billion tonnes.
“2021 saw a stronger than initially expected recovery in steel demand based on vaccination levels and government support measures. As a consequence, we recently predicted that demand could increase by 2.2% in 2022 to 1,896.4 million tonnes. Our largest steel sector, construction, has remained more resilient than most others and we expect this to continue, ”Basson said.
At the same time, WorldSteel warns that the recent new variant of the coronavirus is a reminder that COVID will remain a problem for some time, despite the fact that there are numerous signals that governments around the world are studying policies aimed to live with the virus while keeping the economy in good shape.