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Worldsteel has published a new forecast

Worldsteel has published a new forecast

World Steel Association has published a new forecast on the global consumption of steel products in the current and next year. According to him, in 2017, the figure will increase by 7% relative to 2016. This is a record result reached 1,622 billion tons. But next year, the film promises to be not so rosy. In 2018 there will be a slowdown to 1.6%. What to consumption of metal, it will reach 1,648 billion tons. An opinion was expressed by experts of the Association. The main source, providing the increase in the global market is China. This year, the number of apparent consumption in China is expected to grow by 12.4%. The comparison is with a year 2016. Indicators of 2017 eventually reached 765,7 million tons.

However, the nature of this lift will be mostly artificial. It will not reflect realistic expansion of consumption. According to the Association, it will be only 3%. We are talking about the correction of statistical indicators. In the first half of 2017 in China, stopped over 700 small iron and steel industries. Their activity in the official statistics have not been recorded. The result was an increase in the market share of large and medium-sized companies. Accordingly, they were able to increase the production of the metal, and its implementation.

Analysts Association talking about a possible slowing Chinese economy in 2018. In this regard, the consumption of steel in the mill will remain at 2017. Respectively by 1.6% and decrease of real global growth, constituting 2.8 percent today. However, Western experts in the past repeatedly underestimated China. In October 2016, the WSA made a forecast regarding the decline of consumption. In accordance with the indicator of 2017 was supposed to be 2%.

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