Worldsteel forecasts broad-based steel demand growth of 3.5% per annum
The World Steel Association (worldsteel) has published its short-term steel demand forecast for 2024 and 2025, according to which global steel consumption will reach 1,815 million tons in 2025.
Commenting on the forecast, Dr. Martin Theuringer, chairman of worldsteel's economic committee, said: "After two years of negative growth and severe market volatility following the COVID crisis in 2020, we are seeing the first signs that global steel demand is stabilizing on a growth path" in 2024 and 2025.