The World Steel Association (worldsteel) today released its April 2019 Short Range Outlook (SRO). worldsteel forecasts global steel demand will reach 1735 million tonnes (mt) in 2019, an increase of 1.3% over 2018. In 2020, demand is projected to grow by 1.0% to reach 1752 mt.
Commenting on the outlook, Al Remeithi, Chairman of the worldsteel Economics Committee said, “In 2019 and 2020, global steel demand is expected to continue to grow, but growth rates will moderate in tandem with a slowing global economy. Uncertainty over the trade environment and volatility in the financial markets have not yet subsided and could pose downside risks to this forecast.”