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Taiwan CSC Expects 2% Growth in Global Steel Demand Next Year
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2021-12-01
World Steel Association (WSA) revised down China's steel demand this year by 1% and expected little room for growth next year. However, Taiwan CSC pointed out global steel demand next year could continue to trend up 2% on the basis of WSA's statistics.
According WSA's report, China's economic growth has slowed since this June. Steel consuming industries' demand shows an evident downtrend. The steel demand dropped 13.3% in July and 18.3% in August. The drastic drop was due to a slowdown in the construction industry and China's tightening on steel production; and therefore, the steel demand will show negative growth in Q4 this year.
Despite the fact that China's nominal steel consumption grew 2.7% in the first 8 months this year, WSA thinks China's full-year steel demand could decrease 1%. Following China's policies to rebalance the economy and protect the environment, the steel demand is less likely to grow next year.
According WSA's report, China's economic growth has slowed since this June. Steel consuming industries' demand shows an evident downtrend. The steel demand dropped 13.3% in July and 18.3% in August. The drastic drop was due to a slowdown in the construction industry and China's tightening on steel production; and therefore, the steel demand will show negative growth in Q4 this year.
Despite the fact that China's nominal steel consumption grew 2.7% in the first 8 months this year, WSA thinks China's full-year steel demand could decrease 1%. Following China's policies to rebalance the economy and protect the environment, the steel demand is less likely to grow next year.
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