steel demand

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Analysts expect global GDP growth of 2.1-2.9% in 2024

Next year we can expect looser monetary policy, reduced inflation and high uncertainty

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China’s steel demand to fall by 1.7% in 2024

In the current year, this indicator will decrease by 3.3% on an annual basis

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Fitch forecasts an increase in demand for steel in most regions in 2024

A slight decrease in production is expected in China, and European steel industry will return to positive dynamics

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Demand for steel in China will grow by 3% y/y in 2024 – forecast

Demand will be stimulated by industrial production and investments

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Sentiment in the US steel industry improved amid rising prices

A reduction in supply and an increase in order fulfillment allowed prices to stabilize

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China’s steel industry should use capacity management – CISA

This can become the main means of balancing supply and demand

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Demand for steel in the US will remain stable in the coming years – forecast

It will be supported by infrastructure projects, according to Wood Mackenzie

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Demand for steel in the EU will decrease by 5.3% y/y in 2023 – EUROFER

In 2024, the indicator will grow by 7.6%, but will face geopolitical unpredictability and economic uncertainty

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A slight reduction in steel production in China is not able to support the market

The decline in the profitability of steel production in the country may continue until the end of 2023

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Asian steel market will come under pressure in the fourth quarter – forecast

Limited support for the market will be provided by increased demand in India after the monsoon season

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Global demand for steel in August decreased by 4.5% m/m – Kallanish

The countries of Europe and Southeast Asia were the main restraints of growth

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Worldsteel revised its forecast for global steel demand in 2023

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

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