steel demand - Latest news GMK Center

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

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

Overcapacity in the future could have a significant impact on the industry

The region's steel market is expected to grow by 6.2% annually during this period

Growth will primarily come as infrastructure spending accelerates

The market is counting on the revival of activity after the summer break

Optimistic forecasts, in particular, are related to the sectors of the green transition

The country focuses on the development of infrastructure and expansion of production

The main drivers of negative expectations are high energy prices, increased production costs and the war in Ukraine

Industrial and infrastructure projects in global economies cannot compensate for sector weakness

In the second half of the year, the government is likely to introduce a policy of moderate control

Government stimulus will increase domestic steel consumption by about 6-8 million short tons