On October 14, the World Iron and Steel Association released the global short-term steel demand forecast for 2019-2020. According to the forecast, the global steel demand in 2019 is expected to reach 1775 million tons, a year-on-year increase of 3.9%; the global steel demand in 2020 is expected to reach 1805.7 million tons, a year-on-year increase of 1.7%.
"Global steel demand will continue to grow faster than expected in 2019, mainly from China; steel demand in other regions of the world has slowed down, mainly due to the impact of economic uncertainty, trade tensions, rising geopolitical risks on investment and trade." Al remeithi, chairman of the Market Research Committee of the World Iron and Steel Association, pointed out that "in 2019, China's steel demand is expected to grow by 7.8% to 901 million tons; the rest of the world's steel demand is expected to grow by 0.2% to 874.9 million tons. In 2020, China's steel demand is expected to grow by 1.0% and the rest of the world's steel demand is expected to grow by 2.5%. Although the future global economic outlook is still highly uncertain, it is expected that global steel demand will continue to grow in 2020 driven by the growth of steel demand in emerging and developing economies (except China). "
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