International Steel Association: Global steel consumption will increase by 5.9% this year
2024-10-27 23:00:14
On April 18, 2011, the World Steel Association said that global steel consumption will increase by about 6% this year and next. However, although China's steel demand will continue to grow, the growth rate will decline for the first time. The association expects global apparent steel consumption to increase by 5.9% this year to 1.36 billion tons, up from 1.28 billion tons in 2010. The agency also expects global apparent steel consumption to increase by 6% in 2012 to 1.44 billion tons. China's steel consumption is expected to increase by 5% this year, which is lower than the 5.1% in 2010. Edwin Baon, the director of the association, said this year will be the first year in which China’s steel consumption growth is expected to decline. China's steel consumption will continue to grow, but the increase will not be 10%, but around 5%. The above expectations were made before the Japanese earthquake last month. According to the association, it is estimated that the impact of the Japanese earthquake on annual steel production capacity may be between 7 million and 10 million tons.
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