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Steel demand estimates highlight the state of global growth

Steel demand estimates highlight the state of global growth

These steel numbers are a reminder of how China is an utter Goliath of global metals consumption.

It's an uncertain time for China's economy but Worldsteel forecasts that steel demand in 2022 fell 4.0% y/y and is expected to be flat in 2023.

What's staggering is that a 4.0% decline in China output is 38 million tonnes (from 952 mT to 914 mT); while that is a drop in the bucket domestically, it's equivalent to 38% of US production or all of Germany steel production.

Aside fr... Read More

Posted: Jan 16 2023, 20:12
Author Name: forexlive
Views: 102548

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