forecast

Global demand for steel is expected to grow by 1.8% in 2023 and by 1.9% – in 2024

This estimate is half of the previous forecast made in April

Global economy will slow down to 2.7% in 2024

GDP of the Eurozone and the EU is expected to grow by 0.8% this year

According to the forecast, GDP growth in the G20 will slow to 2.5% this year

This is due to weak demand from Chinese steelmakers amid the situation in the construction sector

Demand for rebar and wire rod remains low

In 2024, the volume of construction will recover to 0.7%

This year it will increase by about 2%.

The growth of consumption will be ensured by the automotive and machine-building sectors

The future of the country may lie in the use of DRI in conjunction with electric arc furnaces

Apparent steel consumption expected to fall 1% in 2023