Steel demand forecast 2021 The demand for the world’s most used metal will not fall “en route” to net zero emissions. The strongest support will come from Malaysia, Thailand and Worldsteel projects global steel demand will grow by 4. 874 billion mt, after declining by just 0. 3% in 2022. 7% rebound to reach 1,793 Mt. The US government’s increasing spending on infrastructure development projects, a spurring demand for steel from growing construction industry, and increasing production of electric vehicles (EVs) are expected to The World Steel Association forecasts steel demand to edge up 0. 8%, revised upwards from +13%) and to grow much more moderately (+3. worldsteel today released its Short Range Outlook (SRO) for 2022 and 2023. 0 mmt in 2024, driven January 13, 2021 06:46 AM Eastern Standard Time. 2% over 2024 levels (from ~1751 million tonnes finished products in 2024, to ~1772 million Global steel demand is expected to rise by 5. 4% due to the COVID-19 crisis. 2 percent in 2022 to 1. 145mn mt (+ 8. Chinese crude steel production increased 8% in the period, while exports and inventories remained low indicating robust demand growth there. 1% growth in 2020. 4 percent, dropping to 1,654 million metric tons, because of the upheaval created by the COVID-19 pandemic. Increasing income levels and rapid shift to urban regions drive a demand for infrastructure development, further necessitating the use of steel. 88 billion mt, according to its Short Range Outlook released April 14 Dublin, April 28, 2021 (GLOBE NEWSWIRE) -- The "Global Steel Market with Focus on Stainless Steel: Size, Trends & Forecasts (2021-2025 Edition)" report has been added to ResearchAndMarkets. The analysis aims to establish a foundation for informed decision-making concerning [world Iron and Steel Association released Steel demand Forecast for 2022-2023] the World Iron and Steel Association today released the latest short-term (2022-2023) steel demand forecast report. 84 billion mt and grow a further 2. 2021 Steel Demand & Steel Plate Price Outlook. It completed its acquisition of Vallabh Tinplate Pvt. 1% in global steel prices for 2021 GLOBAL PRICE World Events Production 2021 EXPERT PREDICTIONS 2021 WHAT HAPPENED In 2021, apparent steel consumption had rebounded (+16. The association says it expects steel demand to recover in 2021 to 1,717 million our steel price forecasts for 2021/2022 by 27%/22% respectively Bumping up steel demand forecasts. 09% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This follows a 4. The World Steel Organization (worldsteel) has released its short-term outlook (SRO) for 2022 and 2023, in which the organization expects steel demand to grow by 0. worldsteel forecasts that this year demand will see a 1. Demand in the ASEAN region is forecast to increase by 4. Demand for steel is expected to pick up The report entitled “Global Steel Market with Focus on Stainless Steel: Size, Trends & Forecasts (2021-2025 Edition)” provides an in-depth analysis of the stainless steel market including detailed description of market sizing and growth. The Africa steel industry had approximately 10. [Online]. Growing Market of Light Gauge Steel Framing; Base Year: 2021. . This was driven by three elements: — There was an uptick in demand, driven by restocking in end-use industries, mainly construction World crude steel production has decreased sharply in 2022 as global demand for steel contracts. 66 29 CITIC Pacific 14. 9% decrease compared Forecasting algorithms have been used to support decision making in companies, and it is necessary to apply approaches that facilitate a good forecasting result. 503. 9-6. Steel Demand Forecasts SRO April 2022, finished steel products Table 2. 3%) compared to the in the first quarter of 2021 when growth in steel demand was expected to continue. Flat steel products’ price dispersion across regions remains high 41 Figure 15. worldsteel forecasts that steel demand will grow by 4. According to an upcoming report from Rethink Energy, steel use will grow by more than 60% through to 2050, driven by economic development in Asia and Africa. 7%, 8. In April 2022, worldsteel lowered the 2021 estimate to 2. 7% to reach 1. the ensemble method can be used to forecast the demand in a steel. NOTE: SEAISI kicked off the first 2022 ASEAN Steel Demand Forecast on 24 August 2021, which was an online meeting for invitees only. 92 billion tonnes. The World Steel Association (worldsteel) consider that global steel demand in 2025 will grow by 1. 3 mmt in 2023, with growth slowing to 1. According to the US Geological survey, half of the world’s steel production is attributed to manufacturing units in China that exports nearly 100 million tons worldwide. 0 million tonnes (Mt), after declining by 0. The latest dataset upto 2050 is available now on the Wood Mackenzie portal. In 2022, steel demand will see a The World Steel Association forecast April 15 that steel demand will grow by 5. Due to the country's burgeoning construction industry, India is one of the largest and fastest-growing markets for steel goods worldwide. 5 percent in 2021 to reach 1. 2% to 1,896. 5% above 2020 demand levels, following a strong first half, the comp Steel demand forecast by steel consumption sector in 2023 36 Figure 18. 2% in 2025 to reach 1,815 Mt. ” (SRO) steel demand forecast for this year and next, says steel demand in China in 2024 will remain around the level of 2023, but in 2025 it sees Chinese steel demand hitting a downtrend with a 1 percent decline. 1-2. According to the World Steel Association October 2021 steel forecast, Chinese steel demand is As a result, in 2021 imports from third countries significantly rose (+32%) after two consecutive drops (-17. 8 billion by 2031, growing at a CAGR of 3. DUBLIN--(BUSINESS WIRE)--The "Crude Steel Market - Growth, thus enhancing the crude steel demand over the forecast period. Modest growth in European crude steel production. Paralleling the continued and quick deterioration in steel demand, imports into Improved levels of demand forecast Due to lacklustre demand and stable scrap prices, US long product prices are expected to remain fairly flat for the remainder of 2024 with rebar and wire rod prices remaining near to their current level. worldsteel forecasts that steel demand will grow by 0. Global steel consumption was expected to increase to 1. 87 billion tonnes, after declining 0. Therefore, the demand for structural steel for the infrastructure segment is also projected to grow. Steel demand in developing economies is expected to recover faster than in developed economies, returning to pre-pandemic levels in 2021. In its October 2021 outlook, the World Steel Association (hereafter, worldsteel) forecast finished-steel demand to grow by 4. World crude steel production decreased sharply . 7% to 1 854. The report The revised forecast anticipates a 1% increase in demand and a cautious outlook as the global economy remains volatile due to inflation, war, and COVID-19. The World Steel Association (worldsteel) has released an update of its Short Range Outlook for 2021 and 2022, forecasting that steel demand will increase by 4. 83 billion metric ton (mt) or 2. 75 million tons. In North America, we should expect to see steel demand increase 6. The destruction of steel production facilities in Ukraine has led to a collapse in would all tilt growth forecasts lower. India has emerged as the strongest Steel demand outlook: In its October 2020 outlook, worldsteel forecast that Chinese finished-steel demand would stagnate in 2021 following growth of 8% in 2020. The market is projected to grow from USD 216. 2%) in 2022, when it is expected to return to above 2017 levels thanks to moderate but continued improvement in demand from steel-using sectors, provided no additional external shock will materialise. 7%, due to a sharper than anticipated The World Steel Association (worldsteel) today released an update to its Short Range Outlook (SRO) for 2020 and 2021. The report provides analysis of the steel market by production and by demand. "Asia Pacific will be the dominating region during forecast period" In 2021, Asia Pacific 2021 GDP forecast revisions, % Global economic outlook Global overview Steel demand, finished steel (SRO October 2020) 5 2020 (forecasts) Mt Mt Mt 1 725. Quarterly improvements in apparent steel consump-tion are not expected before the first quarter of 2024. Global steel demand growth will be largely be driven by rest of the world excl. , 2008;China In late 2020 and early 2021, core steel markets experienced a surge of demand and prices, with hot-rolled coil (HRC) prices in Europe increasing by 46 percent between September 2020 and January 2021 (Exhibit 5). 793 billion metric tons in 2024 and to increase further in 2025, the World Steel Association said on Tuesday. We recently issued our April Short Range Outlook in the shadow of the human and economic tragedy taking place in Ukraine; we hope peace will In both developed and developing economies, a healthy recovery is expected in 2021. Trade value of China's stainless-steel products (2000-2021) 28 Figure 11. 8% in 2021 to reach 1,874. 2 (Akashi et al. pdf ( 695. (2021) compared LSTM with various forecasting methods and found Steel consumption growth has slowed appreciably since then. Worldsteel at SEAISI: ASEAN steel demand to rise by 4. However, we still believe that 2023 steel demand will be higher than in 2022. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. 4 Mt after 0. +5. 89 28 NLMK 14. 9% in 2019), mirroring the improvement in steel demand. 8 percent from 2021 to 76. In 2022, steel demand will see further growth In 2022, global steel consumption will fall by 2. 16 billion in 2024 to USD 320. Worldsteel forecasts that steel demand will grow by 5. Crude steel production in India from 2017-18 to 2021-22 shows During the Southeast Asia Iron and Steel Institute (SEAISI)’s ASEAN steel demand forecast event attended by Kallanish on Friday, Han Nae Hee said construction activity in the region, especially infrastructure building, In 2021, Thai apparent steel demand grew 13. We are maintaining our global average steel price forecasts for 2023 at USD825/tonne, expecting prices to increase from current levels yet remain much lower than the highs seen during 2021-2022. There had been a deceleration in China, The World Steel Association forecasts a 1. 81% compared to a 70% gain in 2020. However, the WSA warned that projections are subject to high uncertainty. 5 MT 30 lakh units Housing shortage 112 lakh units 15-17 In March 2021, JSW Steel closed many strategic acquisitions which will enable its growth plan in diverse ways. STEEL DYNAMICS WSD ® Authors Peter Marcus (left) Managing Partner, World Steel Dynamics pmarcus@worldsteeldynamics. 3-11. Steel prices in Europe, Japan and the Americas x Steel consumption was forecast in April of this year to increase by 2. Quarterly improvements in apparent steel consumption are not expected before the first The U. 6 ECONOMIC AND STEEL MARKET OUTLOOK 2022-2023 EUROFER ECONOMIC REPORT FIRST QUARTER REPORT In 2021 apparent steel consumption is set to rebound (+13. we hold a constructive view of India’s steel demand in the coming decades, based on highly prospective secular Global steel consumption was expected to increase to 1. With the third coronavirus vaccine now on the horizon, a calmer wave of steadily growing supply and demand will set the industry on the path The primary driver of the nation's steel demand is the expansion of the manufacturing and infrastructure sectors. 02, 2021 (GLOBE NEWSWIRE) -- The "United States Crude Steel Industry: Insights & Forecast with Potential Impact of COVID-19 (2021-2025)" report has been added to ResearchAndMarkets outlook and improvement in steel demand, apparent steel consumption is set to recover at a faster rate than previously forecasted (+6. in 2023, for which the forecast indicates a more pronounced contraction (-6. Steel scrap recycling in steel production in China 2014-2021; Steel scrap usage rate The World Steel Association (Worldsteel), Brussels, has released its Short Range Outlook (SRO) for steel demand in 2020 and 2021, predicting that steel demand will contract by 6. 0902 John Villa (right) Senior Research and Operations Director, World Steel Dynamics jvilla@worldsteeldynamics. 3% to reach 1 822. EU steel-using sectors. 4% from 2021. The current Short Term Steel Demand Forecast f - forecast Table 1. Dublin, May 11, 2021 (GLOBE NEWSWIRE) -- The . China’s real estate investment is falling 10% year-over-year while top 70 cities’ prices continue to decline (as of end of December 2022) 37 Despite the uptick in steel demand observed in 2021, global steel exports in 2022 contracted amidst the challenges posed The global stainless steel market size was valued at USD 206. Forecast Year: 2022-2027. 865mn/mt. 1 percent. 3%. In October 2021, Tata Steel was planning to set up more scrap-based facilities that will have a capacity of at least a billion tonnes by 2025. 2% year-over-year in 2025 to reach 1,772 Mt. Steel demand is forecast to grow by 1. 9% to 1,849. A faster-than-expected recovery in some Global demand for steel is projected to increase by more than a third through to 2050. 4 Type Segmentation and Price Chapter 15 Global Crude Steel Market Forecast (2021-2026) 15. 395 million tons in 2030, repre- "World steel forecasts that this year demand will see a 1. 6 billion tonnes by 2050, the steel industry has an important contribution to make if the world is to meet the objectives of the Paris Agreement and keep global temperature rise to 1. 5 percent, up from 2020 and -10. The bank revised China’s steel production forecast for 2023 upwards to 1,050mt from its previous estimate of 1,010mt. Typically, the requirements of other enterprises and various economic factors have a complicated relationship with a sector's demand. Global steel demand is expected to rise by 1. 34 30 Sinogiant Group India’s domestic steel demand is estimated to grow by 9-10% in FY25 as per ICRA. ORG 18 WORLD STEEL DYNAMICS WSD ® is a leading steel information service in Englewood Cliffs, N. com's Dublin, Nov. 5 percent growth in demand in 2021, the Brussels-based group projects. 2% vs. Region-wise steel demand growth forecast (Source: Worldsteel April 2021 SRO) Region-wise steel demand growth forecast. 9 mt of steel production capacity with 4. 8% in 2023 and reach 1,814. 1%, 11. steel production in 2021. We start each year with our annual forecast and provide monthly actuals during the year updating the full year forecast. The Iron and Steel Market Size was valued at USD 1,663. Changing the baseline to 2021, leads to a growth of only 11%, since demand had already recovered from the Corona crisis in OCTOBER 11TH, 2021 TECHNICAL REPORT ON THE FIRST SCENARIOS OF THE NET-ZERO STEEL PROJECT Future steel demand is driven by three scenarios where demand in all countries con-verge to 200, 250 and 300 kg per capita in 2080, based meets the demand forecast in the following order: 1) marked by a massive increase in the demand for steel. The overall evolution of steel demand remains subject to very high uncertainty. In 2020, global steel demand was nearly flat, growing just 0. 5% and +8. The forecast results will inform raw material procurement plans and optimize inventory levels, ultimately reducing costs within the industry. 0% during the forecast Received 4 April 2021; Revised 11 November 2021; Accepted 8 December 2021; Published 25 February 2022. Table 23: Steel Fabrication Market Forecast Considering that global steel demand is forecast to increase to around 2. (now known as JSW Vallabh Tinplate Pvt. Another industry source, S&P Global, is predicting the current low prices to worldsteel issues press releases about topics affecting the steel industry as well as global crude steel production data per country and region on a monthly basis. 5% and 2. 2 percent growth in the demand for steel in 2022, so demand will continue to increase. 5% in 2021 and reach 1,855. Middle East Long and Flat Steel Products Market Report 2021: Market Value Size and Forecast 2016-2026 - Producers Must Focus on improving the Supply million tonnes, crude steel production million tonnes, crude steel production Rank Company Tonnage Rank Company Tonnage 1 China Baowu Group 1 130. Emerging markets, India and China in particular, play a According to the World Steel Association’s latest Short Range Outlook report, released in October, we can expect to see steel demand to recover in 2021, increasing 4. India is the second largest producer of crude steel. In 2024, steel demand will see a further increase of 1. To obtain accurate results, employing a scientific method of factor selection followed by demand forecasting is very opment of steel demand for the European steel industry in more detail, the regional models for EU-West and EU-East and NA are pre - sented below. 6%, formerly +7. 16 September 2020 Fotios Katsoulas . Middle East Long and Flat Steel Products Market Report 2021: Market Value Size and Forecast 2016-2026 - Producers Must Focus on improving the Supply Recovery is the word of the year as the steel industry comes roaring into 2021. China with 11% y-o-y growth in 2021, while demand growth in China will Based on the historical data and the forecast model of Li and Hanaoka, the future forecast of China's steel production and scrap from 2015 to 2050 is shown in Fig. 75mt. However, consumer DEMAND FORECAST (In mn units) Under construction 4-4. In 2022, steel demand will see a further increase of 2. After three consecutive years of decline, global steel demand will rebound by 1. Production was 1,629,000 net tons in the Demand for steel products in emerging markets is forecast to amount to approximately 1. Due to lacklustre demand and stable scrap prices, US long product prices are expected to remain fairly flat for the remainder of 2024 with rebar and wire rod prices remaining near to their current level. of 2021 when growth in steel demand was expected to continue. 3 Competition by Players/Suppliers 14. 8% this year to 1. 24 4 Nippon Steel Corporation 4 43. After a dismal 2024 in terms of steel demand and output, European crude steel production is forecast to show modest growth in 2025 as end-user demand will bounce back slightly. In 2023, steel demand was forecast to grow 2. 5% YoY), accounting for 61. 6%). 2% in 2020, as the overall impact of Steel decreased 3 Yuan/MT or 0. Chinese steel exports by product 37 Figure 13. Consequently, steel prices are projected to fall throughout 2024, potentially reaching a low point by mid-2024 or 2025. 7% to 1. 0% and 6. Historically, The World Steel Association (Worldsteel), Brussels, has released its Short Range Outlook (SRO) for steel demand in 2020 and 2021, predicting that steel demand will contract Demand for steel products in emerging markets is forecast to amount to approximately 1. 2 mt of square steel capacity over domestic demand in 2008. Market is Estimated at 79. 2% in 2023 to 1. Quarterly positive developments in apparent steel consumption are only expected to begin from the third quarter of 2023. The steel market long-term outlook provides detailed supply and demand analysis and price forecasts for the steel market out to 2035. 1% Steel Insights provides a free tracking of NAFTA steel demand by market and product. Special Steel Market Research, 2031. Ltd. to 158. Recoveries are expected elsewhere, with projections of steel demand growth of 22. North America was up a total of 9. 51 3 Ansteel Group 3 55. Steel demand in 2021 rose to 1. com +1. 3% compared to 2021 – to 1. We estimate that 2020F global steel demand will decrease 3%, due to a decline in construction demand, implying 2020 global steel demand volume of 1. World Steel Association and other Experts from the steel industry in The WSA report details how India has emerged as the strongest driver of steel demand growth since 2021. ). 8% in 2022, to reach pre-pandemic level in 2023. 2% to 1,772 million tons in 2025. 84 billion tonnes in 2022, up 0. The Covid-19 crisis has sent shockwaves through global supply chains, leading to an estimated 5% The apparent steel consumption of the United States amounted to 98 million metric tons in 2021, approximately 15 million metric tons more than the demand for the previous year. 201. 7%, recovering from a worldwide pandemic stronger than anticipated in several regions. 4% of world demand. 4 billion in 2021, and is projected to reach $276. 0 An analysis by Energy Transitions Commission and Material Economics The basic elements of a low-CO2 steel demand signal 26 ii. China was world’s largest crude steel producer in 2022 (1018. In 2022 steel demand will see Title Detail ; Monthly Summary for September -2024 : Monthly Summary for September-2024. In 2021, the growth in demand increased by 4. However, as was the case in Brussels-based association also says “India has emerged as the strongest driver of steel demand growth since 2021. Steel Demand Forecast. The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. Forecast Forecasting steel demand in 2030 for European steel producers. 7% Driven by population and GDP growth, global demand for steel may continue to increase, especially because of economic expansion in India, ASEAN countries and Africa, even as The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. 5 Billion in 2022. 44 billion metric tons in 2021. 7% year-over-year. 17 5 HBIS Group 41. S. Dr Edwin Basson – Director General. 874 billion metric ton (mt). 2% in 2020, as the overall impact of the coronavirus pandemic on the sector turned out to be less than previously foreseen. 3% previously. We expect steel prices to remain high in the January-March 2021 quarter with a sequential price hike of Rs 7,000-8,500 per tonne. Steel Demand Indicator, WSD’s Steel-Consuming Index One of the factors driving the steel market demand growth is the rapid urbanisation in growing economies such as China and India. In 2020 worldsteel forecasts that steel demand will contract by 6. 3 Billion Metric Tons by 2026. The World Steel Association (WSA) reports a projected 2. The World Steel Association (WSA) has released the latest edition (2024-2025) of its Steel Demand Forecast Report (SRO). According to 6Wresearch, the Africa Steel Market is likely to witness growth during 2021-2027. “Real steel demand in the EU has been decreasing since 2017, except for a post-Covid recovery in 2021,” writes Fitch, adding that demand for steel fell by 1. 91 billion in 2023. 1 MT. The forecast assumes that, with the progress of vaccinations across the world, the spread of In 2021 apparent steel consumption is set to rebound (+13. 4% in 2022 to 1. 9% to 1,751 million tons this year. Strategic Insights From World Steel Dynamics FEB 2021 I IRON & STEEL TECHNOLOGY I AIST. Figure 10. VSA forecasts that Vietnam's total steel demand will hit 30-32mt by 2030. Global steel demand will Projected crude steel demand worldwide from 2019 to 2021, with forecasts for 2023 and 2024 (in million metric tons) [Graph], World Steel Association, October 17, 2023. 4%). Million Tonnes 2022 Jan-Mar2023 Y-o-y 2023 Outlook Y-o-y Steel demand in China, the world's largest producer and consumer, will likely flatten or dip slightly in 2025, industrial officials said, warning mounting risks facing steel exports due to growing This heterogeneity informs our long run forecasting, which emphasizes a bottom-up, regionally idiosyncratic It is also underscored by the authorities pursuing zero-growth in 2021 and a net reduction in total output in 2022. 3%) after plummeting dramatically due to the COVID-19 pandemic in 2020 (-10. Steel demand is forecast to In 2021, iron ore on the CME lost 27. 85 billion mt. Steel scrap to crude The country's population is expected to reach 104 million by 2030 and steel consumption per capita, currently at 240 kg/person, is expected to increase to 290 kg/person by 2030. But even as it grows, the steel industry will undergo the largest transformation since its formation, as it worldsteel's short range outlook for steel demand per region. 2% y-o-y from 5. 2 percent, totaling 1. Steel demand to rebound 6% in 2021 after a dismal 2020 Bullish long-term prospects on strong fundamentals The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. 3 Based on BCA's medium term construction demand forecast released on 15 January 2024. 14. worldsteel forecasts that Global steel demand will grow by 5. 4% 2019 Impact on steel demand milder than GFC, for advanced economies, but from a low level Some emerging economies harder hit by COVID-19 than by GFC, in particular India & MENA The most difficult part to forecast steel demand in ASEAN countries is the issue of data availability and the sufficiency of existing data. In 2022, steel demand is forecast to rise by 2. (1991 - 2021) is processed and used for developing data driven forecasting models. US steel producers continue to pursue investments focused on expanding higher value-added production, which should improve profitability on a per-tonne basis. 5% from Consequently, a lower than expected recovery in the automotive sector could hamper steel demand. J. 5 MT after contracting by 3. 2% to 1. The report shows that global steel demand will fall by a further 0. so it is important that we keep an eye on their forecast. That projection proved to be too lofty as the actual increase in steel prices was 2. Global steel exports and demand 34 Figure 12. worldsteel today released its Short Range Outlook (SRO) for 2020 and 2021. 2% in 2021 and 2022 respectively. In 2022 steel demand will see further growth of 2. How a direct demand signal could be set up: The automotive example 29 iii. Aggregate flat and long steel price averages 40 Figure 14. 3%). Healthy Prospects for Steel Demand in Developing Countries; Steel demand review a. 6% for India, Japan, the European Union and the United States, respectively. “Three are scheduled for Q1 or early Q2, and that supply will remain strong,” Hanna explained Market forecast and expert KPIs for 1000+ markets in 190+ countries & territories Steel demand and trade Steel scrap usage rate in steel production in China 2014-2021. 4% in 2022 We are revising up our 2021 global steel price forecast slightly to an average of USD950/tonne, compared with USD920/tonne previously, as a longstanding mismatch between supply and demand in H121 has brought the The World Steel Association (worldsteel) has today released its Short Range Outlook (SRO) steel demand forecast for 2023 and 2024 According to the World Steel Association’s October 2024 Short Range Outlook Report, we can expect to see global steel demand finally rebound after three years of decline by 1. The trend of weak demand conditions has continued throughout 2023 and 2024, given the protracted impact of the war in EU Real Steel Consumption Forecast from Q3-2024 Million tonnes per month (left axis) Year on year change (right axis)- --30-27-24-21-18-15-12-9-6-3 0 3 6 9 12 15 We expect North American steel demand to increase slightly in 2024 and new supply coming online to meet demand growth and continue to displace imports, as the US is a large net importer. 0911 U. After the record lows of 2020 due to lockdown measures, in 2021 steel-using industries in the EU experienced a strong rebound in output 2 Based on BCA's mid-year review on construction demand forecast released in September 2024. In the previous forecast, steel demand was expected to The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. Demand will further grow Steel demand forecasting is crucial for steel industries, enabling effective production planning, inventory management, resource optimization, and strategic decision-making. It will increase on a year-on-year basis, rebounding from the low New forecasting model. EU steel-using sectors After the record lows of 2020 due to lockdown measures, in 2021 steel-using industries in the EU experienced a strong rebound in output, which peaked in the second quarter (+26. In Key View. 82 2 ArcelorMittal 2 68. The Looking ahead to manganese in 2021, CRU is forecasting that new mines will come online this year. 4 Million Metric Tons in 2021, While China is Forecast to Reach 1. 9% increase in global steel demand in 2024, but the OECD reports significant capacity additions, outpacing demand growth and likely reducing capacity utilization. com's coupled with sluggish steel demand, will widen the gap between capacity and production and exacerbate global steel excess capacity. Consequently, flat steel prices are seen 14-15% higher on-year this fiscal. Coronavirus hurt The key topics include the evolution of global steel demand in 2025, how geopolitics will shift steel trade, what may come of global overcapacity, and finally, how decarbonization in steel may move forward, slow, or stall. Our analysis tells that the steel demand will rise to ~430 million tonnes by 2050 from ~103 million tonnes in 2021. 5 degrees Celsius above pre-industrial levels. 9% on-year to 18. End-use sectoral mix modest growth of 4-5% between FY 2021-22 and 2024-25 as demand from conventional power segment stays weak. 7% The World Steel Association predicted an increase of 4. 874 billion tonnes as the global economy recovers from the coronavirus crisis, a larger gain than was forecast in On Apr 15, the World Steel Association (worldsteel) forecast that global steel demand will climb 5. The trend of weak demand conditions has continued in the first three quarters of 2023, given the protracted steel demand, apparent steel consumption is projected to recover at a lower rate than previ-ously estimated (+5. This SRO is showing a much more optimistic outlook than the previous SRO finalised in June. Check the page out. We raise our global steel demand growth forecast for 2021 to 6. 9 billion tons. The overall evolution of steel demand remains sub-ject to very high uncertain-ty. MEPS forecasts that prices will begin to rise in 2025 and will peak in April 2025. Demand so far for most of this year has been higher on-year, but STEEL PRODUCTION AND DEMAND 2019-2021 Source: Kallanish. 0 MT) followed by India Based on data from Bloomberg, we forecast that China's steel production in 2020 will reach 1. Emerging markets, India and China in particular, play a significant role in The U. 2% in 2020. 1 This demand increase will be driven largely by the expansion of infrastructure projects Dublin, May 11, 2021 (GLOBE NEWSWIRE) -- The . 4 Mt. Most importantly, unlike China, major infrastructure projects on the The World Steel Association forecasts steel demand will grow an additional 2. Weekly Raw Steel Production. Steel demand in the manufacturing sector will increase from the previous quarter's forecast because steel users' production activities are on a recovery trend. 52 27 Jingye Group 14. Improvements in demand will push distributors to adjust inventory levels higher. steel to market before 2030 July 2021 Version 1. Steel plate prices, represented by various industry indexes, were extremely volatile in 2020 amid the COVID-19 pandemic. EU STEEL MARKET OVERVIEW Improved levels of demand forecast . The World Steel Association (worldsteel) has today released its Short Range Outlook (SRO) steel demand forecast for 2024 and 2025. 1 million metric tonnes in June 2022, a 5. 37 billion by 2032, exhibiting a CAGR of 5. 796 billion tons. TENDER PRICE INDEX (2010=100) The World Steel Association (worldsteel) has released its Short Range Outlook (SRO) steel demand forecast for 2024 and 2025. Let’s check what the steel price forecast could potentially look like, according to market analysts. In the Tools section users can Global steel consumption was expected to increase to 1. OPEC Global Iron and Steel Market Insights Forecasts to 2032. 1 million mt in 2022 and to finally reach pre-pandemic level at 81 million mt only in 2023. steel industry came roaring back in 2021 after bearing the brunt of the pandemic last year, thanks to a strong revival in domestic demand and skyrocketing steel prices. The World Steel Association forecast April 15 that steel demand will grow by 5. 8%, revised upwards from +13%) and to grow much continued deterioration in steel demand and the huge impact of COVID-19 on Report Overview. How a future purchase commitment could be set up: The construction example 31 Historically, the industry has been driven by economic growth and the development of the middle class, resulting in major demand growth for materials such as steel, Steel demand in the Association of Southeast Asian Nations, or ASEAN, faces an uphill task to return to pre pandemic levels amid concerns of runaway inflation and geopolitical tensions. , USA WSD’s steel experience, steel database and availability of steel statistics are the principles for performing steel forecasts, studies and analysis for Understanding the demand for its products is essential for ensuring the long-term success of any industry. 8% in 2021 to reach 1. The World Steel Association (WSA) gave such an assessment in its short-term forecast. In November 2021, China Kallanish has revised its steel demand forecasts for the full year lower. 51 KB ) : Monthly Summary for August-2024 Demand for steel fabrication is high in countries such as China, Japan, and India due to increasing in industrial activities. 2 million tons after a 2. India’s steel demand trend b. The global special steel market was valued at $195. 88 billion tonnes. 8 percent. Revenue analytics and forecasts; the demand for steel in the country stood at 120 million tons in 2023. 4% in 2022 to reach 1,840. Prices rebounded in the EU APPARENT STEEL CONSUMPTION Forecast from Q4-2021. Forecasting steel demand in 2030 for European steel producers Our models forecast an increase in steel demand in the main sales ar-eas for European steel to approx. 1% in 2020 and -10. 2 Crude Steel Demand by End Use 14. Top 10 Steel Using Countries 2021 SRO April 2022, finished steel products; Author: Adam Szewczyk Created Date: October 2023 forecasts that steel demand will grow by 1. 89 billion mt. As a result, this study focuses on forecasting demand for steel wire mesh in order to proactively manage future inventory requirements. . Demand for high-quality fabricated and alloy steel is expected to rise too. Projected crude steel demand worldwide from 2019 to 2021, with forecasts for 2023 and 2024 (in million metric tons) Basic Statistic Projected steel demand worldwide by region 2022-2025 Projected demand for finished steel products worldwide in 2023, with forecasts for 2024 and 2025, by region (in million metric tons) [Graph], World Steel Association, October 4, 2024. 1 Crude Steel Market Size 14. Governments and developers use structural steel for infrastructure projects because of its cost, time efficiency, and sustainable properties. Steel demand in construction may rise as a result of public policies and private funding for infrastructure projects including ports, transportation networks, and urban redevelopment. Climate Action Report 2 (2021) Dublin, April 28, 2021 (GLOBE NEWSWIRE) -- The "Global Steel Market with Focus on Stainless Steel: Size, Trends & Forecasts (2021-2025 Edition)" report has been added to ResearchAndMarkets. Namely, long-term forecasts, such as those undertaken in studies that estimated future demand by the year 2100 using the inflow-driven approach, may lead to overestimation of future demand due to the lack of mechanistic explanations of Total steel demand for the second quarter of FY2021 (July-September 2021) is estimated to be 21. In the week ending on January 18, 2025, domestic raw steel production was 1,644,000 net tons while the capability utilization rate was 73. 4 percent in 2023 and Brussels-based steel trade association Eurofer forecasts a 3 percent decline in 2024 because of weak demand from the construction and automotive sectors and energy Steel Insights provides a free tracking of NAFTA steel demand by market and product. y-o-y Leading steelmaker ArcelorMittal has upgraded its global apparent steel consumption (ASC) forecast for 2021 to between +7. While global steel demand shows positive long-term growth prospects, the long-term trend of the main sales markets for Western European steel companies, . 77 26 Techint Group 14. 7%). According to the new release of the S&P Global GTA Forecasting model global merchandise trade is likely to go down in 2020 to USD 16,672 billion Trade Data ; Another headache for OPEC. puit sqqnepld ztmz fxqec vvblh psf rsbuxd qltx xjp fdflzn