Recently, worldsteel issued this year’s short-term demand prognosis for global steel. According to the release, it is anticipated that global steel consumption would expand by 3.1 percent, reaching 1.475 billion tons, and that it will climb by 3.3 percent, reaching 1.523 billion tons, in 2014. According to hans jurgen kerkhoff, who is in charge of economic research at worldsteel, the most significant threat to the global economy is the euro zone debt crisis and china’s economic hard landing issues. However, the recovery from the crisis is now in excellent form. These factors have led to a gradual growth in the worldwide demand for steel, which may be attributed to the fact that the performance of key rising countries, particularly India and Brazil, is not satisfying owing to structural problems. This year, the demand for steel in China will expand by 6.0 percent, while the demand for steel in the rest of the globe will only increase by 0.7 percent. Overall, global steel demand will increase by 3.1 percent. Worldsteel anticipates that the worldwide demand for steel will continue to exhibit a recovery trend in 2014. Demand in developed nations is expected to increase, but the rate of economic momentum in China will slow down. Despite the fact that industrialized nations have moved away from the danger, emerging countries still face the unpredictability of structural difficulties, political instability, and volatile financial markets. In general, the worldwide economic situation in the steel sector is still precarious; despite this, we anticipate that demand for steel will increase even more in 2014. China’s steel consumption rose by 2.9% in 2012, and it is expected to rise by 6.0% this year, reaching 699.7 million tons. This growth is mostly due to the government’s infrastructure stimulus program. On the other hand, due to government restrictions on investment, analysts predict that increase in steel demand will be 3.0 percent in 2014. india: consumption of steel climbed last year by 2.6 percent, and it is anticipated that consumption would expand by 3.4 percent this year, reaching 74 million tons. However, india’s strong inflation pressures and structural challenges restrict the activities of the steel industry. As a result of the Indian government’s efforts to speed up the implementation of structural reforms, it is anticipated that steel demand would rise by 5.6% in 2014. Steel consumption in Japan is expected to expand by 0.1 percent this year, reaching 64 million tons, as a result of the country’s improving economic position and the government’s stimulus measures. However, the view for 2014 is not encouraging. Because of the introduction of new consumer taxes, the outer migration of industry, and the excessively rapid rise in energy costs, it is anticipated that demand for steel would decrease by 1.6 percent in the next year. The consumption of steel in the United States is projected to reach 96.9 million tons this year, a decrease of 0.7 percent from the previous year’s gain of 7.8 percent in consumption. as a result of the improvement in the state of the global economy, as well as increases in activity in the automotive, energy, and residential building sectors, it is anticipated that demand for steel will rise by 3.0 percent in 2014. It is anticipated that steel consumption would fall by 3.8 percent this year, bringing the total down to 135 million tons. The decline is particularly pronounced in the European Union, particularly during the first half of this year. Italy and Spain saw their unemployment rates drop by 8.1% and 4.3%, respectively, while Germany’s unemployment rate dropped by 1.6%. The estimate for 2014 is optimistic; yet, the total demand for steel in the EU will only rise by 2.1 percent to 138 million tons in 2015. This notwithstanding the optimistic expectation. This year, steel demand in the middle east and north africa increased by just 1.7 percent, bringing the total to 64.3 million tons. This decline might be attributed to the continuation of political upheaval. In 2014, it is anticipated that the demand for steel would grow by 7.3%, reaching 69 million tons, as a consequence of the re-start of investment projects and the efforts of the government to suppress social unrest. If you are looking for a provider of high-quality carbon steel pipe, erw steel pipe, or steel section in China, go no further than ontrend industrial limited. If you have any requirement, please do not hesitate to visit our website.
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