Short-range forecast sees improvements in China and developed economies; strength in construction and machinery sectors.



The World Steel Association has issued a new short-range forecast of global steel demand, predicting the 2017 demand at 1.62 billion metric tons, and 2018 demand at 1.65 billion metric tons. For 2016, total output for raw steel production was 1.628 billion metric tons, and for the current year the World Steel Assn.’s latest (January-August) total has output running 4.8% ahead of the comparable year-ago total.

World Steel issues a semi-annual short-range outlook for steel demand, identifying trends in demand and market forces, globally and regionally. The studies are based on production of carbon raw steel (the product of basic oxygen and electric arc furnaces) in 67 countries. Stainless and specialty steel represent a separate market for output and demand.